10:06 AM EST, 12/04/2017 (MT Newswires) -- Nemaska Lithium (NMX.TO) shares edged up more than 7.0% to $2.16 apiece Monday after saying it has produced 1.5 tonnes of battery grade lithium hydroxide, made from Whabouchi spodumene concentrate. Shares within the day have also hit all-time high $2.24 apiece.

The company said in a statement that independent laboratory analyses confirmed that the lithium hydroxide from its plant in Shawinigan 'meets the specifications of cathode manufacturers globally.' It added that the lithium hydroxide is ready for delivery today to a cathode manufacturer in Quebec. Production of lithium hydroxide from Whabouchi mine concentrate is ongoing at the Phase 1 Plant and additional deliveries of lithium hydroxide will occur on a regular basis over the next months, the company said.

"This is the first time a new entrant to the market has produced battery grade lithium hydroxide from ore to final product," said CEO Guy Bourassa.