SIGMA LITHIUM ANNOUNCES IT HAS FILED ITS FULL YEAR 2023 FINANCIALS

Rhea-AI Summary

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.

Insights

Financial Analyst

A close examination of Sigma Lithium's full-year financials reveals a company on steady footing. The confirmation of the preliminary figures, which shows no significant discrepancies, points to a robust internal financial control system. One must analyze key metrics such as revenue growth, cost control and EBITDA to gauge the company's operational efficiency. Investors should consider the company's positioning in the lithium market, as the demand for this commodity is tied to the burgeoning electric vehicle sector. The carbon-neutral aspect of Sigma Lithium's operations could be a competitive advantage as the global economy moves towards sustainability.

Market Research Analyst

The lithium market is poised for growth, driven by the electric vehicle revolution. Sigma Lithium's emphasis on carbon-neutral and sustainable practices aligns with increasing regulatory requirements and consumer demand for green products. The absence of significant changes from their preliminary results to the audited financials instills confidence in their reporting. However, potential investors should keep an eye on market dynamics, including lithium supply constraints and fluctuations in demand, which could impact the company's performance.

HIGHLIGHTS

• On April 30, Sigma Lithium filed its full year 2023 financial statements and MD&A.
  
  
• The audited numbers confirm the initial results filed on the morning of April 1, 2024.

SÃO PAULO, May 1, 2024 /PRNewswire/ -- 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.

The filing follows a review by the Company's auditors, KPMG International. Sigma Lithium notes that no significant changes have been made from the initial results published on April 1, 2024. The filings are available on SEDAR+ (www.sedarplus.ca), EDGAR (www.sec.gov) and the Company's corporate website.  

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 has issued a Final Investment Decision formally approving plans to nearly double capacity to 520,000 tonnes of concentrate through the addition of a Phase 2 concentrate mine and associated mine. 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 Groto 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.sedar.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.

 

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SOURCE Sigma Lithium

FAQ

When did Sigma Lithium file its full year 2023 financials?

Sigma Lithium filed its full year 2023 financial statements on April 30, 2024.

Which auditors reviewed Sigma Lithium's financial statements?

The Company's auditors, KPMG International, reviewed Sigma Lithium's financial statements.

Are there any significant changes from the initial results published on April 1, 2024?

No significant changes have been made from the initial results.

Where can the filings be accessed?

The filings are available on SEDAR, EDGAR, and the Company's corporate website.