SIGMA LITHIUM REPORTS 1Q 2024 RESULTS: MAY SHIPMENT PRICED AT $1,290, INCREASED 25% FROM 1Q; PRODUCTION COSTS AT $397/t, 2ND LOWEST IN INDUSTRY

SIGMA LITHIUM REPORTS 1Q 2024 RESULTS: MAY SHIPMENT PRICED AT $1,290, INCREASED 25% FROM 1Q; PRODUCTION COSTS AT $397/t, 2ND LOWEST IN INDUSTRY

 
 

  FIRST QUARTER 2024 HIGHLIGHTS   ($ USD)  

 
  •   Strengthened commercial position in May, achieving a premium price of USD $1,290 /t, at a fixed formula of 9% of lithium hydroxide quoted at LME, delivering:  
    •   11% price increase from April  
    •  
    •   25% price increase from 1Q24 realized sales price (USD $930 /t or $1,035 /t on a 6% basis)
       
    •  
  •  
  •   Revenues from volumes of Quintuple Zero High Purity Lithium Concentrate sold in 1Q totaled $49.1 million .  
    •   Sales volumes totaled 52,857/t  
    •  
    •   Production volumes totaled 54,168/t
       
    •  
  •  
  •   Reduced reported cash cost by   16% from 4Q23   , approaching 3Q cost guidance:  
    •   FOB cash costs of $462 /t (guidance $420 /t)  
    •  
    •   Cash costs at industrial plant gate averaging $397 /t (guidance of $370 /t)
       
    •  
  •  
  •   Robust 1Q24 EBITDA margins:  
    •   35.3% margins on pro forma EBITDA (3) of $17.4 million , generated by business conducted in 1Q24.  
    •  
    •   15.8% margins on reported 1Q adjusted EBITDA of $5.9 million .
       
    •  
  •  
  •   Board of Directors made a Final Investment Decision to build a second Greentech Industrial Plant that will increase production capacity to 520,000/t of Quintuple Zero Green Lithium from the current 270,000 t/year.
     
  •  
  •   Extended operational life to 25 years at the Company's 100% owned Grota do Cirilo industrial-mineral complex at an industrial throughput of 520,000 t/year:  Increase of 40% in proven and probable mineral reserves to 77 million tonnes (from 54.8 million tonnes).  
  •  

  Conference Call Information  

 

The Company will conduct a conference call to discuss its financial results for the first quarter at 12:00 p.m. EST on Thursday , May 16, 2023. Participating on the call will be Co-Chairperson and Chief Executive Officer, Ana Cabral . To register for the call, please proceed through the following link Register here. For access to the webcast, please Click here .

 

Sigma Lithium Corporation (" Sigma Lithium " or the " Company ") (NASDAQ: SGML, TSXV: SGML, BVMF: S2GM34), a leading global lithium producer dedicated to powering the next generation of electric vehicles with carbon neutral, responsibly sourced chemical grade lithium concentrate, today announced its results for the first quarter ended March 31, 2024 . The Quarterly Filings and accompanying Management Discussion and Analysis ("MD&A") are available on SEDAR+ ( www.sedarplus.ca ), EDGAR ( www.sec.gov ) and the Company's corporate website.

 

 

  Sigma Lithium logo (PRNewsfoto/Sigma Lithium Corporation) 

 
 

  Ana Cabral , Co-Chairperson and CEO said: "During 2024, Sigma has delivered on several key milestones aimed at doubling industrial capacity by 2025. We made the final investment decision to initiate construction of a second Greentech plant, and we extended operational life to 25 years at Grota do Cirilo by increasing our audited proven and probable mineral reserve by 40%. Our entire team is focused on the execution of this industrial and mineral capacity expansion, repeating the success of Phase 1 by delivering this second stage of operational growth on time and on budget."  

 

She added : "Operationally, our team has been progressing consistently towards achieving robust cash flow generation for 2024. We continue to premiunize the price of our Quintuple Zero Green Lithium, increasing May prices by 11% from April, and a nearly 30% from the 1Q24 average realized prices. We reduced reported cash cost by 16% vs 4Q23, approaching guidance.  

 

  Key Performance Metrics for Quarter Ended 31 March 2024    ($ USD)  

 
 
                                                
 
 

   Unit   

 
 

   1Q24   

 
 

   4Q23   

 
 

  Concentrate Produced  

 
 

  tonnes  

 
 

  54,168  

 
 

  59,938  

 
 

  Concentrate Grade Produced  

 
 

  %  

 
 

  5.4 %  

 
 

  5.3 %  

 
 

  Concentrate Sold  

 
 

  tonnes  

 
 

  52,857  

 
 

  64,670  

 
 

  Reported Revenue  

 
 

  $ 000s  

 
 

  37,202  

 
 

  37,688  

 
 

  Average Reported Selling Price  

 
 

  $/t  

 
 

  704  

 
 

  583  

 
 

  Revenue for Business Conducted in 1Q  

 
 

  $ 000s  

 
 

  49,141  

 
 

  67,500  

 
 

  Average Realized Selling Price in 1Q  

 
 

  $/t  

 
 

  930  

 
 

  1,067  

 
 

  Unit Operating Cost (1)  

 
 

  $/t  

 
 

  397  

 
 

  478  

 
 

  Adjusted EBITDA (2)  

 
 

  $ 000s  

 
 

  5,878  

 
 

  1,295  

 
 

  Net Income  

 
 

  $ 000s  

 
 

  (6,962)  

 
 

  (9,500)  

 
 

  Cash and Cash Equivalents  

 
 

  $ 000s  

 
 

  108,191  

 
 

  48,584  

 
 
 

 

 

Sigma Lithium made two full shipments of its Quintuple Zero Green Lithium concentrate during the first quarter as the March shipment was concluded in the first week of April.

 
  • Sales were supplemented by an additional sale to Glencore AG of volumes at port totalling 8,700/t at the end of the quarter.
  •  
  • Revenues associated with volumes sold in the first quarter totaled $49 million , implying a realized FOB sales price of $930 /t.
  •  
  • Reported revenues for the first quarter totaled $37.2 million ( C$50.4 million ).
    • Provisional price adjustments reduced 1Q24 revenues by USD $12 million , an improvement from the $30 million price adjustment in 4Q23, as lithium concentrate prices turned upward after the Lunar New Year.
    •  
  •  

Cash unit operating costs (1) for lithium concentrate produced at the Company's Grota do Cirilo operations in the first quarter averaged USD $397 /t. The 4Q cash cost FOB Vitoria (which includes transportation and port charges) averaged USD $462 /t (or $483 /t with royalties).

 
  • This is a nearly 16% improvement from the reported FOB costs in 4Q23 and is an important step to meeting Company cost targets of $370 /t plant gate and $420 /t FOB.
  •  
  • Sigma Lithium has already seen an improvement in its cost structure given productivity actions taken, and notes that production at the processing plant was the primary hinderance to achieving guided costs during the first quarter. The Company reiterates its expectation to achieve guidance within 2Q24 for 3Q average realization.
  •  

The Company delivered first quarter adjusted EBITDA of $5.9 million ( C$8.1 million ), reflecting a margin of 15.8%. Reported EBITDA for the first quarter totaled $3.1 million ( C$4.3 million ).

 
  • This number includes $0.5 million ( C$0.7 million ) of non-recurring expenditures, including those associated with the strategic review, and $2.3 million ( C$3.1 million ) in non-cash stock-based compensation expenses.
  •  

1Q24 results had a $12 million provisional price adjustment to revenues resulting from shipments in the 4Q23.  Without this provisional price adjustment, the Company delivered a pro forma adjusted EBITDA for business conducted in 1Q24 of $17.4 million , implying a margin of more than 35%.

 

Net income in the quarter was a loss of $7.0 million ( C$9.3 million ), or ($0.06) per diluted share outstanding.

 

  Operational Update and Phase 2 Expansion  

 

Lithium concentrate production in the first quarter totaled 54,168 tonnes, compared to the 59,938 tonnes produced in 4Q23. No single factor weighed materially on production, but it was impacted, in part, by holiday seasonality and fewer work days. Sigma maintained a delivery schedule of approximately 35 days. The Company has successfully continued to improve Greentech plant efficiency in 2024, and notes that production improved sequentially through the course of the first quarter.

 

On April 1, 2024 , the Board of Directors announced a Final Investment Decision (" FID ") for the Company's Phase 2 Greentech Plant expansion. The project is expected to add 250,000 tonnes of production capacity to the current 270,000-tonne Phase 1 operation. Earthworks engineering is ongoing. Building and commissioning are expected to occur within 12 months of the FID announcement, with the first commercial production expected in 2Q25. The total expected capex for the Phase 2 construction is $100 million ( C$136 million ), and the Company has already secured all relevant environmental licenses to build and operate the second Greentech Plant.

 

  Ninth Shipment Scheduled for the week of May 20   

 

The Company is also announcing today that it has finalized pricing discussions for its ninth shipment of Quintuple Zero Green Lithium concentrate scheduled for the week of May 20th . The 22,000/t shipment will be priced at the formula of 9% of the LME/Fastmarkets lithium hydroxide benchmark, implying $1,290 /t at today's market ( $1,459 /tonne gross of VAT).

 

The current value of the May shipment reflects an 11% price increase over the Company's eighth shipment in April, where the $1,160 /tonne secured price was equivalent to 8.75% of the LME/Fastmarkets Lithium Hydroxide prices.

 

A similar price discovery process was followed through closed private bidding for the fixed portion of the price formula, though the final economics will depend on LME/ Fastmarkets lithium hydroxide benchmark at one month after the landing of the shipment. Sigma Lithium will continue to adapt its marketing strategy to maximize the commercial value of its premium Quintuple Zero Green Lithium

 

Sigma Lithium Commercial Director Catarina Noci , stated: " The economics for our May shipment represent a continuation in the market recovery that started in the days following the Lunar New Year. Indications from the market point to a firm outlook for lithium concentrate as we enter the price discovery process for our next shipment in June. Demand for our Quintuple Zero Green Lithium continues to be robust as a result of its superior chemical properties and coarse particles. We will evolve our pricing strategy to follow market dynamics in order to capture as much as possible of the 20-30% cost savings embedded in the "value-in-use" we deliver to our downstream clients."  

 

  Balance Sheet & Liquidity  

 

Sigma Lithium ended the first quarter with $108.2 million ( C$146.4 million ) in cash and cash equivalents. This represents a material increase from the $48.5 million in cash at the quarter ended Dec. 31, 2023 . At the end of the quarter, the Company had $201 million ( C$272 million ) in short and long-term loans and export prepayment liabilities. This included $89 million in drawn and available, but unutilized, liquidity through trade finance lines.

 

Capital expenditures during the first quarter totaled $5.6 million ( C$7.6 million ) directed towards maintenance, exploration as well as incremental investments in the Greentech Plant to boost production. In total, the Company's net debt position over the course of 1Q increased by $13 million , reflecting the annual interest payment made in connection with the outstanding debt.

 

Free cash flow was a modest drag as a result of lower market prices in the quarter, higher receivables, as well as the conclusion of the March shipment taking place in the first week of April (resulting in one less shipment made during the 1Q24 compared with 4Q23).

 

  ABOUT SIGMA LITHIUM  

 

Sigma Lithium (NASDAQ: SGML, TSXV: SGML, BVMF: S2GM34) is a leading global lithium producer dedicated to powering the next generation of electric vehicle batteries with carbon neutral, socially and environmentally sustainable chemical-grade lithium concentrate.

 

Sigma Lithium operates at the forefront of environmental and social sustainability in the EV battery materials supply chain and is currently producing Quintuple Zero Green Lithium concentrate from its Grota do Cirilo Project in Brazil. Phase 1 of the project entered commercial production in 2Q23 and has an annual capacity of 270,000 tonnes of concentrate (36,700 LCE annually). The Company is currently working to expand production via a Phase 2 concentrate line and associated mine which would add another 250,000 tonnes of Quintuple Zero Green Lithium capacity annually. The project produces lithium concentrate at its state-of-the-art Greentech lithium plant that uses 100% renewable energy, 100% recycled water and 100% dry-stacked tailings.

 

Please refer to the Company's National Instrument 43-101 technical report titled "Grota do Cirilo Lithium Project Araçuaí and Itinga Regions, Minas Gerais, Brazil , Amended and Restated Technical Report" issued March 19, 2024 , which was prepared for Sigma Lithium by Homero Delboni Jr. , MAusIMM, Promon Engenharia; Marc-Antoine Laporte , P.Geo, SGS Canada Inc; Jarrett Quinn , P.Eng., Primero Group Americas; Porfirio Cabaleiro Rodriguez , (MEng), FAIG, GE21 Consultoria Mineral; and William van Breugel , P.Eng (the "Updated Technical Report"). The Updated Technical Report is filed on SEDAR and is also available on the Company's website.

 

For more information about Sigma Lithium, visit https://www.sigmalithiumresources.com/  

 

  Sigma Lithium
LinkedIn: Sigma Lithium  
Instagram: @sigmalithium  
Twitter: @SigmaLithium  

 

  FORWARD-LOOKING STATEMENTS  

 

  This news release includes certain "forward-looking information" under applicable Canadian and U.S. securities legislation, including but not limited to statements relating to timing and costs related to the general business and operational outlook of the Company, the environmental footprint of tailings and positive ecosystem impact relating thereto, donation and upcycling of tailings, timing and quantities relating to tailings and Green Lithium, achievements and projections relating to the Zero Tailings strategy, achievement of ramp-up volumes, production estimates and the operational status of the Grota do Cirilo Project, and other forward-looking information. All statements that address future plans, activities, events, estimates, expectations or developments that the Company believes, expects or anticipates will or may occur is forward-looking information, including statements regarding the potential development of mineral resources and mineral reserves which may or may not occur. Forward-looking information contained herein is based on certain assumptions regarding, among other things: general economic and political conditions; the stable and supportive legislative, regulatory and community environment in Brazil; demand for lithium, including that such demand is supported by growth in the electric vehicle market; the Company's market position and future financial and operating performance; the Company's estimates of mineral resources and mineral reserves, including whether mineral resources will ever be developed into mineral reserves; and the Company's ability to operate its mineral projects including that the Company will not experience any materials or equipment shortages, any labour or service provider outages or delays or any technical issues. Although management believes that the assumptions and expectations reflected in the forward-looking information are reasonable, there can be no assurance that these assumptions and expectations will prove to be correct. Forward-looking information inherently involves and is subject to risks and uncertainties, including but not limited to that the market prices for lithium may not remain at current levels; and the market for electric vehicles and other large format batteries currently has limited market share and no assurances can be given for the rate at which this market will develop, if at all, which could affect the success of the Company and its ability to develop lithium operations. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether because of new information, future events or otherwise, except as required by law. For more information on the risks, uncertainties and assumptions that could cause our actual results to differ from current expectations, please refer to the current annual information form of the Company and other public filings available under the Company's profile at     www.sedarplus.com     .  

 

   Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.   

 

  Figure 1: Income Statement Summary

 
 
                                                                            
 
 

   Three Months Ended
Mar. 31, 2024
 
 

 
 
 

   Three Months Ended
Mar. 31, 2024
 
 

 
 

    ($000)    

 
 

   CAD   

 
 
 

   USD   

 
 
 
 
 
 

  Revenue  

 
 

  50,408  

 
 
 

  37,202  

 
 

  Operating costs  

 
 

  (38,722)  

 
 
 

  (28,642)  

 
 

   Gross profit   

 
 

   11,686   

 
 
 

   8,560   

 
 

  G&A expense  

 
 

  (5,882)  

 
 
 

  (4,363)  

 
 

  Sales expense  

 
 

  (1,166)  

 
 
 

  (861)  

 
 

  Stock-based compensation  

 
 

  (3,066)  

 
 
 

  (2,266)  

 
 

  ESG and other operating expenses  

 
 

  (1,887)  

 
 
 

  (1,400)  

 
 

   EBIT   

 
 

   (315)   

 
 
 

   (329)   

 
 

  Financial income and FX (expenses), net  

 
 

  (9,614)  

 
 
 

  (7,104)  

 
 

   Income (loss) before taxes   

 
 

   (9,929)   

 
 
 

   (7,433)   

 
 

  Income taxes and social contribution  

 
 

  585  

 
 
 

  471  

 
 

   Net Income (loss) for the period   

 
 

   (9,344)   

 
 
 

   (6,962)   

 
 
 
 
 
 

  Weighted avg diluted shares outstanding  

 
 

  110,460,681  

 
 
 

  110,460,681  

 
 
 
 
 
 

   Earnings per share   

 
 

   $                                (0.08)   

 
 
 

   $                                (0.06)   

 
 
 

 

 

  Figure 2: Balance Sheet Summary

 
 
                                                                                                                                                
 
 

   Three Months
Ended Mar. 31,
2024
 
 

 
 

   Twelve
Months Ended
Dec. 31 2023
 
 

 
 
 

   Three Months
Ended Mar. 31,
2024
 
 

 
 

   Twelve
Months Ended
Dec. 31 2023
 
 

 
 

    ($000)    

 
 

   CAD   

 
 

   CAD   

 
 
 

   USD   

 
 

   USD   

 
 
 
 
 
 
 
 

  Assets  

 
 
 
 
 
 
 

  Cash and cash equivalents  

 
 

  146,393  

 
 

  64,403  

 
 
 

  108,191  

 
 

  48,584  

 
 

  Trade accounts receivable  

 
 

  39,276  

 
 

  29,693  

 
 
 

  29,027  

 
 

  22,400  

 
 

  Other current assets  

 
 

  51,114  

 
 

  48,580  

 
 
 

  37,776  

 
 

  36,647  

 
 

   Total current assets   

 
 

   236,783   

 
 

   142,676   

 
 
 

   174,993   

 
 

   107,631   

 
 

  Property, plant and equipment  

 
 

  236,824  

 
 

  239,742  

 
 
 

  175,023  

 
 

  180,856  

 
 

  Other non-current assets  

 
 

  107,613  

 
 

  104,820  

 
 
 

  79,530  

 
 

  79,074  

 
 

   Total Assets   

 
 

   581,220   

 
 

   487,238   

 
 
 

   429,546   

 
 

   367,561   

 
 
 
 
 
 
 
 

  Liabilities & Shareholder Equity  

 
 
 
 
 
 
 

  Financing and export prepayment  

 
 

  127,149  

 
 

  28,907  

 
 
 

  93,968  

 
 

  21,807  

 
 

  Accounts payable  

 
 

  62,918  

 
 

  59,826  

 
 
 

  46,499  

 
 

  45,131  

 
 

  Other current liabilities  

 
 

  32,047  

 
 

  33,640  

 
 
 

  23,691  

 
 

  25,377  

 
 

   Total current liabilities   

 
 

   222,114   

 
 

   122,373   

 
 
 

   164,159   

 
 

   92,315   

 
 

  Financing and export prepayment  

 
 

  145,488  

 
 

  141,999  

 
 
 

  107,522  

 
 

  107,121  

 
 

  Other non-current liabilities  

 
 

  8,344  

 
 

  8,582  

 
 
 

  6,167  

 
 

  6,474  

 
 

   Total non-current liabilities   

 
 

   153,832   

 
 

   150,581   

 
 
 

   113,689   

 
 

   113,595   

 
 
 
 
 
 
 
 

   Total shareholders' equity   

 
 

   205,274   

 
 

   214,284   

 
 
 

   151,699   

 
 

   161,651   

 
 
 
 
 
 
 
 

   Total Liabilities & Shareholders' Equity   

 
 

   581,220   

 
 

   487,238   

 
 
 

   429,546   

 
 

   367,561   

 
 
 

 

 

  Figure 3: Cash Flow Statement Summary

 
 
                                                                                                        
 
 

   Three Months Ended
Mar. 31, 2024
 
 

 
 
 

   Three Months Ended
Mar. 31, 2024
 
 

 
 

    ($000)    

 
 

   CAD   

 
 
 

   USD   

 
 
 
 
 
 

  Operating Activities  

 
 
 
 
 

  Net income (loss) for the period  

 
 

  (9,344)  

 
 
 

  (6,962)  

 
 

  Adjustments  

 
 

  20,487  

 
 
 

  15,261  

 
 

  Interest payment on loans and leases  

 
 

  (15,194)  

 
 
 

  (11,266)  

 
 

   Adjustments to income (loss) for the period   

 
 

   (4,051)   

 
 
 

   (2,967)   

 
 

  Change in working capital  

 
 

  (11,341)  

 
 
 

  (8,449)  

 
 

   Net Cash from Operating Activities   

 
 

   (15,392)   

 
 
 

   (11,416)   

 
 
 
 
 
 

  Investing Activities  

 
 
 
 
 

  Purchase of PPE  

 
 

  (5,303)  

 
 
 

  (3,952)  

 
 

  Addition to exploration and evaluation assets  

 
 

  (2,248)  

 
 
 

  (1,667)  

 
 

  Other  

 
 

  (55)  

 
 
 

  (41)  

 
 

   Net Cash from Investing Activities   

 
 

   (7,606)   

 
 
 

   (5,660)   

 
 
 
 
 
 

  Financing Activities  

 
 
 
 
 

  Proceeds of loans, net  

 
 

  106,862  

 
 
 

  79,237  

 
 

  Other  

 
 

  (846)  

 
 
 

  (627)  

 
 

   Net Cash from Financing Activities   

 
 

   106,016   

 
 
 

   78,610   

 
 
 
 
 
 

  Effect of FX  

 
 

  (1,028)  

 
 
 

  (1,927)  

 
 

   Net (decrease) increase in cash   

 
 

   81,990   

 
 
 

   59,607   

 
 

  Cash & Equivalents, Beg of Period  

 
 

  64,403  

 
 
 

  48,584  

 
 

  Cash & Equivalents, End of Period  

 
 

  146,393  

 
 
 

  108,191  

 
 
 

 

 

  Endnotes:  

 
 
      
 

   (1)   

 
 

   Cash Operating Costs per tonne include mining, crushing, processing, and site administration expenses. When shown as Freight on Board (FOB), these expenses include transport and port charges. For clarity, non-site G&A, and royalty costs are excluded unless otherwise noted.   

 
 

   (2)   

 
 

   Adjusted EBITDA represents a cash operating profit metric that nets revenues against cost of goods sold, selling, general, administrative and other cash operating expenses. Adjusted EBITDA also excludes stock-based compensation and certain non-recurring expenses, such as those related to the Company's strategic review.   

 
 

   (3)   

 
 

   Pro forma Adjusted EBITDA utilizes the same formula as Adjusted EBITDA, though it backs out the implications of the provisional price adjustment to associated revenues and costs. The Company believes this is a more accurate reflection of business conducted within the quarter.   

 
 
 

 

 

  Reconciliation  

 

  To provide investors and others with additional information regarding the financial results of Sigma Lithium, we have disclosed in this release certain non-IFRS operating performance measures of EBITDA, EBITDA margin, Adjusted EBITDA, and Adjusted EBITDA margin. These non-IFRS financial measures are a supplement to and not a substitute for or superior to, the Company's results presented in accordance with IFRS.  The non-IFRS financial measures presented by the Company may be different from non-GAAP/IFRS financial measures presented by other companies. Specifically, the Company believes the non-IFRS information provides useful measures to investors regarding the Company's financial performance by excluding certain costs and expenses that the Company believes are not indicative of its core operating results.  The presentation of these non-U.S. GAAP/IFRS financial measures is not meant to be considered in isolation or as a substitute for results or guidance prepared and presented in accordance with U.S. GAAP/IFRS.  A reconciliation of these financial measures to IFRS results is included herein.  

 

 

 

  Figure 4: Adjusted EBITDA Bridge

 

 

 
 
                                                                                
 
 

   Three Months Ended
Mar. 31, 2024
 
 

 
 
 

   Three Months Ended
Mar. 31, 2024
 
 

 
 

    ($ 000)    

 
 

   CAD   

 
 
 

   USD   

 
 
 
 
 
 

  Revenues  

 
 

  50,408  

 
 
 

  37,202  

 
 

  Cost of goods sold  

 
 

  (38,722)  

 
 
 

  (28,642)  

 
 

   Gross Profit   

 
 

   11,686   

 
 
 

   8,560   

 
 

  G&A expense  

 
 

  (5,882)  

 
 
 

  (4,363)  

 
 

  Sales expenses  

 
 

  (1,166)  

 
 
 

  (861)  

 
 

  Stock-based compensation  

 
 

  (3,066)  

 
 
 

  (2,266)  

 
 

  ESG & other operating expenses, net  

 
 

  (1,887)  

 
 
 

  (1,400)  

 
 

   EBIT   

 
 

   (315)   

 
 
 

   (329)   

 
 

  Depreciation & Amortization  

 
 

  4,622  

 
 
 

  3,443  

 
 

   EBITDA   

 
 

   4,307   

 
 
 

   3,114   

 
 

    EBITDA (%)    

 
 

    8.5 %    

 
 
 

    8.4 %    

 
 

  Non-recurring expenses  

 
 

  678  

 
 
 

  499  

 
 

   Accounting Services   

 
 

   443   

 
 
 

   324   

 
 

   Other G&A   

 
 

   235   

 
 
 

   174   

 
 

  Stock-based compensation  

 
 

  3,066  

 
 
 

  2,266  

 
 

   Adjusted EBITDA   

 
 

   8,051   

 
 
 

   5,878   

 
 

    Adjusted EBITDA (%)    

 
 

    16.0 %    

 
 
 

    15.8 %    

 
 
 

 

 

 Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/sigma-lithium-reports-1q-2024-results-may-shipment-priced-at-1-290--increased-25-from-1q-production-costs-at-397t-2nd-lowest-in-industry-302147697.html  

 

SOURCE Sigma Lithium

 

 

 

 Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/May2024/16/c2577.html  

 
 

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SIGMA LITHIUM JOINS VICE PRESIDENTIAL TRADE MISSION TO CHINA IN BEIJING; PARTICIPATES IN ASPEN INSTITUTE-COLUMBIA UNIVERSITY GLOBAL ENERGY FORUM IN BRAZIL

SIGMA LITHIUM JOINS VICE PRESIDENTIAL TRADE MISSION TO CHINA IN BEIJING; PARTICIPATES IN ASPEN INSTITUTE-COLUMBIA UNIVERSITY GLOBAL ENERGY FORUM IN BRAZIL

 
 

  HIGHLIGHTS  

 
  •   Sigma Lithium has been honored with the participation in a trade mission to China invited by ApexBrasil, the export and investment trade agency of the Brazilian Government, from June 5 – 7 th , during COSBAN, to mark the 50 th anniversary of diplomatic relations between the countries  
    •   The Company's Co-Chairperson and CEO, Ana Cabral, will be moderating and participating in dialogues with the thematic "New Industry and the Role of Critical Minerals to the Energy Transition" and "Financing Sustainable Development, a Brazil-China Climate and Finance Dialogue."  
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    •   On the trip, Sigma Lithium will join some of the most successful Brazilian companies in each of their respective sectors: Vale, Embraer (Aircrafts), Suzano (Pulp and Paper), WEG (Industrials), Prumo (Logistics), Bradesco (Bank), BRF (Foods)   .  
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    •   The trade mission for private sector companies is comprised of participation in symposiums organized by ApexBrasil, CEBRI, CEBC, ICS, and Asian Infrastructure Investment Bank, with the objective to discuss joint opportunities to foster and increase trade and investments between China and Brazil   
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    •   Sigma Lithium's participation in the trade mission is an integral part of a series of initiatives by the Company to highlight the protagonism of the Brazilian lithium materials industry and its unique capability to enable the decarbonization of global electric vehicle supply chains by consistently delivering Quintuple Zero Green Lithium (zero carbon lithium) in large scale, throughout the pricing cycles.  
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  Sigma Lithium is also pleased to participate and to sponsor (through Instituto Litio Verde) two major global events discussing climate and energy transition convening in Rio de Janeiro in June, as a result of Brazil's protagonist role as G20 host in 2024. Sigma Lithium's Executive Vice President for Business Development, Matthew Deyoe , will represent the Company in the G20 events in Rio.  

 

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SIGMA LITHIUM ANNOUNCES LOADING 22,000t SHIPMENT TO LX INTERNATIONAL AT PREMIUM FIXED FORMULA: 9% OF LME LITHIUM HYDROXIDE

SIGMA LITHIUM ANNOUNCES LOADING 22,000t SHIPMENT TO LX INTERNATIONAL AT PREMIUM FIXED FORMULA: 9% OF LME LITHIUM HYDROXIDE

 
 

  HIGHLIGHTS  

 
  •   Sigma Lithium announces the loading of its ninth shipment, totaling 22,000 tonnes of its high purity Quintuple Zero Green lump lithium concentrate ("Quintuple Zero Green Lithium"), at the Port of Vitoria.   The shipment was sold to LX International, formerly known as LG International.  
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  •   Sigma Lithium achieved a premium price calculated using a fixed-floating formula of 9% of lithium hydroxide quoted at LME. The price formula is final and non-provisional.   Premium prices were achieved through a negotiated, "auction-price discovery" process.  
    •   The auction process maximizes transparency, leads to a more equitable and fair distribution of risk-reward across the supply chain, and ultimately increases value creation for the Company, an integrated industrial miner-processor of lithium concentrate.  
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    •   In this fixed-floating formula, the final price for the ninth shipment will depend solely on the fluctuations of LME lithium hydroxide benchmark prices one month after the landing of the shipment (M+1).  
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  •   Sigma Lithium will continue to drive its commercial strategy, maintaining control over allocation of the sales of its Quintuple Zero Green Lithium amongst the bidders.  
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Sigma Lithium Corporation (" Sigma Lithium " or the " Company ") (NASDAQ: SGML, BVMF: S2GM34, TSXV: SGML) , a leading global lithium producer dedicated to powering the next generation of electric vehicles with carbon neutral, socially and environmentally sustainable lithium concentrate, announces it has commenced loading its ninth shipment of Quintuple Zero Green Lithium, totaling 22,000 tonnes, at the Port of Vitoria. The Company sold its entire ninth shipment directly to LX International (" LXI "), formerly named LG International.

 

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SIGMA LITHIUM TO RELEASE FIRST QUARTER 2024 RESULTS MAY 16, 2024, BEFORE MARKET OPEN

SIGMA LITHIUM TO RELEASE FIRST QUARTER 2024 RESULTS MAY 16, 2024, BEFORE MARKET OPEN

 
 

Sigma Lithium Corporation (" Sigma Lithium " or the " Company ") (NASDAQ: SGML, BVMF: S2GM34, TSXV: SGML) a leading global lithium producer dedicated to powering the next generation of electric vehicles with carbon neutral, socially and environmentally sustainable lithium concentrate, announces it will release its financial results for the first quarter ended March 31, 2024 before market open on May 16, 2024 . The release will be followed by an investor conference call the same day at 12:00 p.m. ET.

 

To register for the call, please proceed through the following link Register here.  

 

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SIGMA LITHIUM INCREASES PROVEN & PROBABLE OPEN PIT MINERAL RESERVE BY 40% TO 77Mt EXTENDING OPERATIONS TO 25 YEARS

SIGMA LITHIUM INCREASES PROVEN & PROBABLE OPEN PIT MINERAL RESERVE BY 40% TO 77Mt EXTENDING OPERATIONS TO 25 YEARS

 
 

  HIGHLIGHTS  

 
  •   Sigma Lithium is increasing its Proven and Probable Reserve balance by 40% to 77.0 million tonnes from 54.8 million tonnes.  
    •   The entirety of this mineral Reserve balance is feasible through low-cost, open pit, mining operations, consolidating the Company   's position as a low-cost producer of Quintuple Zero High Purity Lithium materials.  
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  •   Increased Proven and Probable Reserves lengthens the duration of Sigma's integrated industrial-mining operations to an estimated 25 years at two phases of processing capacity at 520,000 tonnes/year.  
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Sigma Lithium Corporation (" Sigma Lithium " or the " Company ") (NASDAQ: SGML, BVMF: S2GM34, TSXV: SGML) , a leading global lithium producer dedicated to powering the next generation of electric vehicles with carbon neutral, socially and environmentally sustainable lithium concentrate, announces it is increasing its Proven and Probable Mineral Reserves at its 100% owned Grota do Cirilo operation at Vale do Jequitinhonha by 40%, equivalent to 22.2 million tonnes.

 

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SIGMA LITHIUM ANNOUNCES IT HAS FILED ITS FULL YEAR 2023 FINANCIALS

SIGMA LITHIUM ANNOUNCES IT HAS FILED ITS FULL YEAR 2023 FINANCIALS

 
 

  HIGHLIGHTS  

 
  •   On April 30 , Sigma Lithium filed its full year 2023 financial statements and MD&A.

     
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  •   The audited numbers confirm the initial results filed on the morning of April 1, 2024 .  
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Sigma Lithium Corporation (" Sigma Lithium " or the " Company ") (NASDAQ: SGML) (BVMF: S2GM34) (TSXV: SGML), a leading global lithium producer dedicated to powering the next generation of electric vehicles with carbon neutral, socially and environmentally sustainable lithium concentrate, announces that it filed its audited consolidated financial statements for the year ended December 31, 2023 and the related Management Discussion & Analysis (MD&A) on April 30, 2024 .

 

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Editor's Picks: Platinum Hits 11 Year High, Expert Touts Silver's Bullish Future

It was a week of downward momentum for the gold price.

The yellow metal neared the US$3,400 per ounce level on Monday (June 23) as investors reacted to the weekend's escalation in tensions in the Middle East, but sank to just above US$3,300 the next day.

The decline came as US President Donald Trump announced that Israel and Iran had agreed to a ceasefire. While the ceasefire has not gone entirely smoothly, with Trump expressing displeasure about violations, the news appeared to calm investors.

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Platinum Price Surges to 11 Year High, Breaks US$1,400

The platinum price surged above US$1,400 per ounce during Thursday (June 26) morning trading, reaching its highest level in 11 years amid a wave of speculative buying in the US and China.

In the US, industrial demand for the metal is rising as American carmakers scale back their electrification plans. At the same time, new policies are set to walk back consumer subsidies for electric vehicles.

These Trump administration mandates are expected to result in increased demand for traditional internal combustion engines or hybrid vehicles, which require higher platinum loadouts.

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Sprott: Platinum Price Potentially at "Tipping Point" as Fundamentals Stack Up

Platinum has experienced robust price activity in recent weeks, breaking out of a years-long range.

Despite a persistent supply deficit, platinum has mostly traded between US$900 and US$1,100 per ounce in the past few years. But on Monday (June 9) it broke US$1,200, reaching its highest level since May 2021.

What has changed for the precious metal? In a May 29 report, Shree Kargutkar, managing partner at Sprott Asset Management (TSX:SII), provides an in-depth examination of the factors driving platinum's recent rise, and analyzes whether market fundamentals can sustain these elevated prices.

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Edward Sterck platinum bars.

Edward Sterck: Platinum Price on the Move, Perfect Storm Coming?

Edward Sterck, director of research at the World Platinum Investment Council, reviews the organization's latest quarterly report, honing in on supply and demand dynamics.

He also touches on platinum's recent price move, highlighting its strong fundamentals.

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Closeup of shiny platinum bars stacked randomly against a dark background.

Platinum Price Breaks Out as Chinese Demand and Global Shortfalls Ignite Rally

The platinum price has surged over 20 percent year-to-date, propelled by a sharp rebound in Chinese demand and a tightening global supply picture that analysts say may signal a prolonged market deficit.

On May 23, platinum closed at US$1,098.40 per ounce, its highest level since May 2023, and a 22 percent increase from its year-to-date low of US$892 seen on April 8. The rally, which has accelerated in recent weeks, comes amid renewed investor interest in precious metals, stark supply-side constraints and a changing global demand profile.

China has emerged as a key force behind platinum's surge, with imports in April jumping 47 percent month-on-month to 10 metric tons, the highest in a year, according to Chinese Customs data.

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Silver cylindrical bars with a financial graph background.

Metals Focus: PGMs Deficits Deepen as Supply Tightens and Demand Realigns

Despite economic and geopolitical upheaval, 2024 was relatively calm for platinum-group metals (PGMs).

In its new PGMs report, research firm Metals Focus notes that all five PGMs — platinum, palladium, rhodium, iridium and ruthenium — ended 2024 in physical deficit, marking a pivotal year of stabilization and supply strain.

With tightening mine output, rising hybrid vehicle demand and industrial shifts driving ruthenium and iridium gains, 2025 is set to test the sector’s resilience amid constrained supply and cautious investor sentiment.

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