Sigma Lithium Corporation Common Shares - SGML STOCK NEWS

Sigma Lithium hosted its 2024 Investor Day, outlining plans to triple capacity to 125,000t LCE by end-2026. The company detailed a capital-efficient construction plan for two new industrial lines: a first expansion with 34,000t LCE capacity commissioning in 2025, and a phase 3 expansion with 54,000t LCE capacity commissioning in 2026.

Sigma expects to reach an adjusted cash EBITDA of $420mm by 2025 and nearly $700mm by 2027. The growth strategy leverages economies of scale, subsidized financing, and commitment to carbon neutrality. The Brazilian National Development Bank (BNDES) provided a subsidized financing commitment to support capital investments.

Sigma Lithium was recognized as a Climate Pioneer by Nasdaq during the United Nations Climate Week in New York. The company has achieved Net Zero targets 25 years ahead of the industry, demonstrating leadership in climate action for lithium and battery materials.

Sigma Lithium (NASDAQ: SGML) maintains operational consistency, shipping its 12th vessel of Quintuple Zero Green Lithium to Mitsubishi. This 22,000t shipment marks the company's second sale to the Japanese conglomerate. Sigma remains on track to meet its 3Q production target of 60,000 tonnes. The company has appointed Rogerio Marchini as Executive Vice President of Corporate Finance and CFO, strengthening its finance team. The price for this shipment is set at a provisional premium floating price equivalent to 8.25% of Lithium Hydroxide quoted at LME. Sigma plans to further diversify its commercial strategy in Q4 with additional partnerships in different geographies.

Sigma Lithium (NASDAQ: SGML) has received a binding commitment from BNDES for a BRL 487 million development loan to fund the construction of its Second Greentech Carbon Neutral Plant in Brazil. The loan features a 16-year repayment period at a 7.45% annual interest rate. With this expansion, Sigma expects to double its Quintuple Zero Green Lithium production capacity from 270,000 to 520,000 tonnes per year.

The company has already initiated construction activities and plans to complete the project by summer 2025. This loan is part of BNDES's strategy to support the development of a sustainable lithium supply chain in Brazil. Sigma will host an Investor Day on September 24, 2024, at Nasdaq to discuss its operations and growth initiatives.

Sigma Lithium (NASDAQ: SGML) reported strong Q2 2024 results, showcasing operational efficiency and cost reduction. Key highlights include:

- Revenue of $54.4 million from 52,572t of lithium concentrate sold
- 22% reduction in unit cash costs year-to-date, achieving 2024 guidance ahead of schedule
- CIF equivalent cash costs of $515/t, FOB cash costs of $424/t
- Robust adjusted cash EBITDA margins of 29%, up from 16% in Q1 2024
- Maintained average 10% price premium year-to-date
- Diversified commercial relationships with new South Korean and Japanese companies
- Expects Q3 2024 production of 60,000t of 5.0 Green Lithium
- Cash balance of $99 million as of August 14, 2024

The company achieved operational excellence, maintaining high cash margins of 54% (FOB Brazil) while focusing on cost discipline and increasing sales volume cadence.

Sigma Lithium (NASDAQ: SGML) has completed its first year of production, demonstrating consistent operational performance with its 11th shipment of 22,000t of Quintuple Zero Green Lithium. The company achieved the fastest ramp-up in the lithium industry among current producers. Notably, Sigma Lithium reached a significant milestone of 365 consecutive days with zero fatalities and zero accidents with lost workdays among its 618 employees. This safety record catapulted the company to the equivalent of second place in the ICMM combined safety rankings. The latest shipment is priced at a premium floating price of 8.75% of LME Lithium Hydroxide quoted at LME (CIF Shanghai basis).

Sigma Lithium (NASDAQ: SGML, BVMF: S2GM34, TSXV: SGML), a leading global lithium producer, has announced the release date for its second quarter 2024 financial results. The company will publish its results on August 15, 2024, after market close. This will be followed by an investor conference call on August 16, 2024, at 8:00am eastern time.

Investors can access the Q2 2024 press release, investor presentation, and quarterly filings through Sigma Lithium's investor relations website. A webcast replay will also be available after the event. Sigma Lithium is known for producing carbon neutral, socially and environmentally sustainable lithium concentrate for powering electric vehicles.

Sigma Lithium (NASDAQ: SGML) has signed a US$ 22.4 million deferred letter of credit with Banco do Brasil, marking a significant milestone in its growth as a lithium producer. This transaction enables Sigma to offer 90-day 'export vendor financing' to clients at low interest rates, enhancing its commercial flexibility and market access. The deal, based on 22,000t of July 5th production at 8.75% of LME Lithium Hydroxide price, allows Sigma to phase out existing trade finance lines and transition from receiving advance payments to providing vendor financing.

This move is expected to improve Sigma's competitive position, widen its client base, and potentially institutionalize a premium for its Quintuple Zero Green Lithium concentrate. The company's ability to access this type of export financing demonstrates its maturity as a producer within its first year of operations, positioning it among Brazil's largest industrial exporters.

The global lithium industry is experiencing significant growth, with reserves and resources surging 52.2% to 303.5 million metric tons in Q1 2024 compared to three years ago. Lithium South Development (TSXV:LIS) (OTC:LISMF) filed a new Preliminary Economic Assessment (PEA) for its Hombre Muerto North Lithium Project, revealing an after-tax NPV of US$938 million and an IRR of 31.6%. The company also updated its NI 43-101 technical report, showing a 175% increase in lithium resources to over 1.58 million tonnes of LCE.

Other industry developments include Sigma Lithium 's 40% upgrade in proven and probable reserves, Lithium Ionic Corp.'s $11 million financing for its Brazilian projects, Albemarle 's agreement to increase production quota in Chile, and Standard Lithium 's partnership with Equinor ASA for a potential $160 million investment.

Sigma Lithium appoints Eugenio de Zagottis as an independent director with 99% approval at its latest annual general and special meeting (AGSM). Zagottis is noted for transforming Raia Drogasil into the largest drug retailer in Latin America. The AGSM also elected directors for the coming year, including Alex Rodrigues, Ana Cabral, Bechara Azar, and Marcelo Paiva, diversifying the board's skillset to support business growth. The board now has a 40% representation from underrepresented groups and remains co-chaired by a woman. Shareholders approved Grant Thornton as the company's auditor and authorized a corporate charter transition to Ontario.