Sigma Lithium Corporation Common Shares - SGML STOCK NEWS

Sigma Lithium has initiated commissioning of its Dense Medium Separation module at the Greentech Plant one month ahead of schedule and within budget. The crushing module is also ahead of schedule, with first ore expected to be crushed by mid-February. Sigma anticipates starting commercial production of battery-grade lithium concentrate in April 2023, generating cash flow in Q2 2023. Leadership changes include Rodrigo Menck as Chief Financial Officer, with Ana Cabral-Gardner continuing as CEO. Brian Talbot remains COO, and Gary Litwack has been appointed Non-Executive Co-Chair.

Sigma Lithium has filed a Production Expansion Technical Report validating the preliminary feasibility study announced on December 4, 2022. The report indicates a substantial increase in integrated production of Battery Grade Sustainable Lithium Concentrate from 270,000 tpa to 768,000 tpa within two years at the Grota do Cirilo Project. The after-tax NPV is assessed at US$ 15.3 billion with a total capex of US$ 155 million. Mineral reserves have increased approximately 60% to 54.8 Mt at a grade of 1.44% Li2O. The economic analysis projects gross revenue averaging US$ 2.5 billion during the project life.

Sigma Lithium has successfully commissioned the first module of its Phase 1 Greentech Plant, meeting its scheduled timeline and budget constraints. The commissioning of the crushing circuit began last week and is anticipated to conclude by February 2023. The dense media separation circuit is set to start commissioning in February and finish by April 2023, with commercial production expected shortly thereafter. Moreover, Sigma Lithium anticipates generating free cash flow by Q2 2023. The company is aiming to increase its mineral resources significantly and solidify its position as a leading supplier in the lithium market.

Sigma Lithium announced a potential production expansion at its Grota do Cirilo Project, aiming to triple production from 270,000 tpa to 768,000 tpa within two years. The project shows strong economics, with an after-tax NPV of US$15.3 billion and a total capex of US$155 million. Funding will be secured through a US$100 million debt agreement with Synergy Capital. Proven and probable mineral reserves increased by 63% to 54.8 Mt at a grade of 1.44% lithium oxide, supporting a potential 20-year project life.

Sigma Lithium Corporation (NASDAQ: SGML) announced participation in two major industry conferences in New York City, scheduled for December 7-9, 2022. Led by Co-CEO Ana Cabral-Gardner, the senior finance team will engage in investor meetings at the Deutsche Bank Battery Supply Chain Conference and the Bank of America 2022 Lithium and Battery Storage Conference. Ana expressed enthusiasm about the upcoming commissioning of Sigma's Greentech Plant and advancements in construction for the Grota do Cirilo Project, aiming to become one of the world's largest lithium producers.

Sigma Lithium reported substantial advancements in the construction of its Greentech Plant during Q3 2022. The company is on track to initiate commissioning of the plant by year-end 2022, aiming for commercial production in April 2023, with expected significant free cash flows soon after. Current lithium prices remain strong, evidenced by an auction fetching US$8,575 per tonne. Construction milestones reached include 99% completion of concrete works for the crushing module, 750 workers on site, and plans to increase to over 1,000. Sigma maintains C$58 million in cash as of November 2022.

Sigma Lithium has appointed Dana Perlman as its third independent director, enhancing its board with over 20 years of expertise in strategy, finance, and corporate governance. This move aligns with Sigma's commitment to diversity, as 50% of its board members are independent, and 33% are female. The company's focus on environmentally sustainable lithium production supports the electric vehicle market. Perlman’s experience includes leadership roles in major corporations and a proven track record in strategic transactions.

Sigma Lithium Corporation (NASDAQ: SGML) reported significant advancements in its Grota do Cirilo Project during the second quarter of 2022. Key achievements include doubling planned lithium production to 531,000 tonnes per year and a 50% increase in mineral resource estimate to 86 Mt with a grade of 1.43% Li2O. The environmental license was extended to allow simultaneous mining from both pits. Construction progress is at 32%, with commissioning anticipated in December 2022. The company appointed Brian Talbot as COO to enhance operational readiness.

On August 9, 2022, Sigma Lithium Corporation (NASDAQ: SGML) announced the filing of a technical report detailing a 50% increase in the mineral resource estimate for its Grota do Cirilo Project in Brazil. The total estimate rose to 85.7 million tonnes, comprised of 73.6 million tonnes of measured and indicated resources at a grade of 1.43% Li2O and 12.1 million tonnes inferred at 1.45% Li2O. This significant increase supports the company’s commitment to sustainable lithium production for electric vehicles.