Sigma Lithium Corporation Common Shares - SGML STOCK NEWS

In Q1 2024, Sigma Lithium (SGML) reported a 25% price increase for its May shipment to $1,290/t. Revenues from Q1 sales of Quintuple Zero High Purity Lithium Concentrate reached $49.1 million, with sales volumes totaling 52,857/t and production volumes at 54,168/t. The company achieved a 16% reduction in cash costs from Q4 2023, with FOB cash costs at $462/t and plant gate costs averaging $397/t. Pro forma EBITDA margin stood at 35.3%, with a reported adjusted EBITDA of $5.9 million. Sigma's Board has approved the construction of a second Greentech Industrial Plant to boost production capacity to 520,000/t annually. The operational life at Grota do Cirilo has been extended to 25 years, and proven and probable reserves increased by 40% to 77 million tonnes.

Sigma Lithium (NASDAQ: SGML), a top global lithium producer, will release its Q1 2024 financial results on May 16, 2024, before market open. The company focuses on providing carbon-neutral, socially and environmentally sustainable lithium concentrate for electric vehicles. An investor conference call is scheduled for the same day at 12:00 p.m. ET. The results, investor presentation, and quarterly filings will be accessible through Sigma Lithium’s investor relations website. A webcast replay will be available after the event.

Sigma Lithium has increased its Proven and Probable Reserve balance by 40% to 77.0 million tonnes, extending its operations to 25 years. This increase allows for continued low-cost lithium production growth, supporting new processing facilities or a longer operating life. The increased mineral Reserves are feasible through open pit mining operations, maintaining a low operating cost model. Sigma Lithium continues to convert Resources into Reserves over time, demonstrating a commitment to invest in Brazil's lithium production. This significant update reflects the Company's dedication to sustainable and environmentally friendly lithium concentrate production.

Sigma Lithium, a global lithium producer, filed its full year 2023 financial statements and MD&A on April 30, 2024. The audited numbers confirmed the initial results filed on April 1, 2024. No significant changes were made from the initial results. The filings are available on SEDAR, EDGAR, and the Company's website.

Sigma Lithium announces loading 22,000t shipment with 85% prepayment at premium prices. The Company achieved a fixed price of US$ 1,333/t, equivalent to US$ 1,160/t (net of VAT), representing a significant increase over previous prices. 85% of the shipment's value has been prepaid, showcasing strong market demand and confidence in Sigma Lithium's high-purity lithium concentrate.

Sigma Lithium expands its Tropical Forest Conservation program by acquiring land 250km away to create a 'Conservation Belt Against Deforestation'. The company aims to preserve 690 hectares of tropical forest to combat climate change. However, Sigma Lithium faces non-compliance issues with Nasdaq due to delayed Form 40-F filing, impacting trading and management activities.

Sigma Lithium announces Final Investment Decision to double production of Quintuple Zero Green Lithium, reports strong financials for FY23, and delays filing annual disclosure documents. The company plans to build Phase 2 Industrial Plant with Capex of $100mm, expand capacity by 250,000t/y, and commence construction in 1Q24. Sigma Lithium became the world's 6th largest lithium producer in 2023, with revenue of $135.1m and EBITDA of $49.1m. Despite a delay in filing annual reports, the company remains financially robust and well-positioned for future growth.

Sigma Lithium achieves a premium fixed price of US$ 1,333/t for its 8th shipment, marking a 13% increase and reflecting the company's commitment to sustainable lithium production. The price is final and non-provisional, signaling a significant improvement in commercial terms and consolidating Sigma Lithium's position as a leading global lithium producer. The product's superior quality, including high-purity and coarse particles, has garnered strong market interest and favorable commercial terms. The company's focus on maximizing value capture through closed private bidding and strategic marketing strategies with Glencore highlights its dedication to building a sustainable lithium supply chain for electric vehicles.

Sigma Lithium announces the filing of its financial statements for the year ended December 31, 2023, and an update to its Mineral Resource Estimate section of the technical report. The earnings release and report will be available on April 1, 2024, followed by an investor conference call. The Company remains dedicated to sustainable lithium production for electric vehicles.