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   Gold/Mining/EnergyRare Earth Elements and Exotic Metals


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To: LoneClone who wrote (22520)5/10/2024 4:04:02 PM
From: LoneClone
   of 22791
 
SIGMA LITHIUM INCREASES PROVEN & PROBABLE OPEN PIT MINERAL RESERVE BY 40% TO 77Mt EXTENDING OPERATIONS TO 25 YEARS

newswire.ca

Sigma Lithium May 08, 2024, 07:41 ET

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.
  • 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.
SÃO PAULO, May 8, 2024 /CNW/ -- 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.

The Company is increasing its consolidated Proven and Probable Reserve balance to 77.0 million tonnes at 1.40% lithium oxide (Li2O) from 54.8 million tonnes at 1.44% prior. The increase occurs within the combined phases 3 and 4 mines, resulting in a lengthening of the duration of its integrated mining and beneficiation operations to an estimated 25 years at two lines of processing capacity totaling 520,000 tonne per annum (includes the second industrial line of 250,000 tonnes currently under construction).

The increased mineral Reserve balance enables meaningful opportunities for continued low-cost lithium production growth at Sigma Lithium's Grota do Cirilo operations by supporting a third and potentially fourth processing facility, or a longer operating life at the Company's currently planned lithium throughput. As the available balances show consistent minerology and are available through open pit mining operations, the Company expects to maintain its current, Phase 1, low operating cost model as it expands into additional phases.

This increase in mineral Reserves does not represent the full extent of the conversion of mineral Resources as announced by the Company on January 31, 2024. Sigma Lithium continues to execute the mineral and geological development work in order to further convert its Resources into Reserves over time.

"The mineral Reserve update comes as a result of months of detailed specialized geo statistical technical modeling work from the mining team to process and optimize our mine plans around the increased resource data" says, Reinaldo Brandão, Co-General Manager and head of Mining Operations. He continued, "The entirety of this Reserve balance is available near surface, allowing to the Company to efficiently mine through low cost, open pit, mining practices, avoiding the operational risks and higher levels of water use associated with underground activity."

Iran Zan, Co-General Manager and head of Geology notes, "An increase of 22.2 million tonnes to our Reserve balance corresponds to the recent 23.3 million tonne audited increase of its mineral resource estimates the Company announced on January 31. Sigma's 2023 and 2024 drill campaigns have focused on building resource density along known and preexisting strikes, which will continue to deliver tonnage to our models with limited exploration risk."

Ana Cabral Co-Chairperson and CEO stated, "This significant increase in mineral Reserves demonstrates our commitment to continuously invest in Brazil to unlock the full economic potential of our mineral concessions. This includes our commitment to build in the country, in the same region where the lithium is mined, a second state-of the-art large scale lithium processing green Industrial plant. We believe Brazil is poised to become one of the global leaders in Lithium production as a result of its optimum conditions for integrated lithium industrial processing and mining: legal certainty in a consolidated mining code, rule of law, straightforward permitting processes, tropical climate, green and affordable renewable energy and power lines infrastructure."

Figure 1: Consolidated Reserve Balance




Consolidated

Category

Ore (Mt)

Li2O Grade (%)

Li2O (Kt)

LCE (Kt)

Proven

38.5

1.4 %

533

1,317

Probable

38.5

1.4 %

537

1,328

Proven and Probable

77.0

1.4 %

1,069

2,645




  • Mineral Reserves were estimated using Micromine 2023 software and following the economic parameters listed below.
  • Sale price for Lithium concentrate at 5.3% Li2O = 1,150 US$/t concentrate FOB Mine.
  • Mining costs: US$2.43 /t mined
  • Processing costs: US$10.7/t ore milled
  • G&A: US$4.0/t ROM (run of mine)
  • Exchange rate US$5.2 = R$1
  • Mineral Reserves are the economic portion of the Measured and Indicated Mineral Resources
  • 97% Mine Recovery and 3% Mine Dilution
  • Final slope angle are 35 and 52 degrees for overburden and fresh rock based on the Geotechnical Document
  • Strip Ratio = 21.04 :1 t/t (waste)/(mineral reserves)
  • The Qualified Person for the estimate is Iran Zan, Geologist
QUALIFIED PERSONS

The qualified person (QP) for the Grota do Cirilo reserve estimate is Iran Zan AusimM (Membership number FAusIMM (329132)), who is considered, by virtue of his education, experience and professional association, a Qualified Person under the terms of NI 43-101. Mr. Zan is not considered independent under NI 43-101 as he is Sigma Lithium co-Head of Geology and co-General Manager of Sigma Lithium.

Mr. Zan has also verified the technical data disclosed in this news release not related to the current Mineral Resource estimate disclosed herein.

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 c212.net

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.

SOURCE Sigma Lithium

For further information: Matthew DeYoe, EVP Corporate Affairs & Strategic Development, +1 (201) 819-0303, matthew.deyoe@sigmalithium.com.br; Daniel Abdo, Director, Investor Relations, +55 11 2985-0089, daniel.abdo@sigmalithium.com.br



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To: LoneClone who wrote (22521)5/10/2024 4:06:04 PM
From: LoneClone
   of 22791
 
Standard Lithium and Equinor Form Partnership to Develop South West Arkansas and East Texas Lithium Projects

ca.finance.yahoo.com

Standard Lithium
Wed, May 8, 2024 at 5:00 a.m. PDT·5 min read

EQNR.OL
+2.64%

SLI
+11.86%

EQNR
-0.16%

STOHF
+2.49%

Equinor Commits to Contribute up to a US$160 million Gross Investment for a 45% interest in two special purpose entities with SLI to develop a sustainable lithium business in the United States

VANCOUVER, British Columbia, May 08, 2024 (GLOBE NEWSWIRE) -- Standard Lithium Ltd. (“Standard Lithium” or the “Company”) (TSXV:SLI) (NYSE American:SLI) (FRA:S5L), a leading near-commercial lithium development company, today announced the closing of a landmark strategic partnership (the “Transaction”) with Equinor ASA (NYSE: EQNR), a multinational energy company and recognized leader in renewables and low-carbon solutions, to accelerate the development of Standard Lithium’s large-scale, sustainable lithium projects in the Smackover Formation.

The Transaction includes Equinor's contribution of up to US$160 million, representing its total gross project-level investment and reflecting its 45% ownership stake in the two entities. This investment includes a US$30 million cash payment to Standard Lithium at closing, a work program solely funded by Equinor of US$60 million, representing a US$33 million carry by Equinor for Standard Lithium’s portion, and US$27 million for Equinor’s portion, at the South West Arkansas Project (SWA) and East Texas (ETX) properties (ETX and together with SWA, the “Projects”), and up to US$70 million in payments to Standard Lithium subject to both parties taking positive Final Investment Decisions. Standard Lithium and Equinor will each own 55% and 45% of the Projects respectively, with Standard Lithium retaining operatorship.

Dr. Andy Robinson, Director, President and COO said: “We are delighted to have concluded this transaction and begun an exciting new partnership with Equinor. We believe this partnership with a global energy major validates the quality of our team, our DLE flowsheet and experience, and our world-class lithium-brine resources in Arkansas and Texas. We’re at a crucial stage in our Company’s growth and this partnership with Equinor will be fundamental to the continued de-risking and execution of these important projects. One thing that we have observed in the lithium world over the past decade is that strong, mutually-aligned partnerships are the key to successful project execution and operation, and we believe we have aligned with the right partner to take SLI and the lithium industry in Arkansas and Texas to the next level.

Transaction Highlights

  • Partnership between Standard Lithium and Equinor is strategic and complementary; it combines SLI’s unparalleled DLE and Smackover brine processing expertise, plus world-class assets, with a global energy major with deep experience in sub-surface assessment and production, project development, financing, construction and operations;

  • Significantly de-risks project execution at Standard Lithium’s Projects, including the development and project execution at SWA;

  • The Transaction immediately strengthens Standard Lithium’s financial position; additionally, the cost carry component on agreed project development expenditures at the Projects provides further benefits and results in no dilution to existing shareholders;

  • Equinor as a partner has a track record of project excellence;

  • Strong alignment between Standard Lithium and Equinor to develop a sustainable lithium business, adhering to high levels of environmental and social responsibility.

This partnership with Equinor is a major accomplishment for Standard Lithium. It has long been our belief that success in this sector hinges on strategic partnerships with companies who share our vision and bring complementary strengths. Equinor’s culture and values align with ours in using innovation, integrity and responsible development to enable the global energy transition. With this partnership, we have the opportunity to accelerate our progress and carve out a significant role in shaping the future of sustainably produced lithium,” stated Standard Lithium CEO, Robert Mintak.

We are looking forward to developing these opportunities in the Smackover Formation together with Standard Lithium. With Standard Lithium as operator and by building on Equinor's core competencies such as sub-surface and project execution capabilities, we believe that more sustainably produced lithium has growth potential and will be an enabler for the energy transition,” says Morten Halleraker, senior vice president for New Business and Investments in Technology, Digital and Innovation at Equinor.

Transaction Details
The Transaction was completed effective May 7, 2024 with Equinor, an arms-length party, acquiring interests in two Standard Lithium subsidiaries, one of which holds Standard Lithium’s South West Arkansas Project and the other the East Texas properties. Pursuant to the terms of the Transaction, Equinor acquired a 45% interest in each of the subsidiaries for an initial cash payment of US$30 million to Standard Lithium and the commitment to invest up to an additional US$130 million subject to both parties taking positive Final Investment Decisions as follows:

  • Equinor to solely fund the first US$40 million of development costs at SWA upon completing the Transaction, after which all additional capital expenditures would be funded on a pro-rata basis;

  • Equinor to solely fund the first US$20 million in exploration and development costs at the ETX properties, after which all additional capital expenditures would be funded on a pro-rata basis;

  • Standard Lithium will receive up to US$70 million in milestone payments associated with SWA and ETX subject to the parties taking Final Investment Decisions by certain dates, respectively;

  • Standard Lithium will maintain majority ownership and operatorships pursuant to Development Services Agreements at each of SWA and the East Texas Properties;

  • Each special purpose entity will be governed by a Limited Liability Company Agreement with a management structure that integrates the expertise and resources from both companies; and

  • No parent-level common equity ownership dilution at Standard Lithium as a result of the Transaction.

Advisors
Citi acted as financial advisor to Standard Lithium and Skadden, Arps, Slate, Meagher & Flom LLP and Cassels Brock and Blackwell LLP acted as legal counsel to Standard Lithium.

About Equinor ASA
Equinor is an international energy company committed to long-term value creation in a low-carbon future. Equinor’s portfolio of projects encompasses oil and gas, renewables and low-carbon solutions, with an ambition of becoming a net-zero energy company by 2050. Headquartered in Stavanger (Norway), Equinor is the leading operator on the Norwegian continental shelf. We are present in around 30 countries worldwide.

About Standard Lithium Ltd.
Standard Lithium is a leading near-commercial lithium development company focused on the sustainable development of a portfolio of lithium-brine bearing properties in the United States. The Company prioritizes brine projects characterized by high-grade resources, robust infrastructure, skilled labor, and streamlined permitting. The Company aims to achieve sustainable, commercial-scale lithium production via the application of a scalable and fully-integrated Direct Lithium Extraction (“DLE”) and purification process. The Company’s signature projects, the Phase 1A Project and the South West Arkansas Project, are located on the Smackover Formation in southern Arkansas, a region with a longstanding and established brine processing industry. The Company has also identified a number of highly prospective lithium-brine project areas in the Smackover Formation in East Texas and began an extensive brine leasing program in the key project areas. In addition, the Company has an interest in certain mineral leases located in the Mojave Desert in San Bernardino County, California.

Standard Lithium trades on both the TSX Venture Exchange and the NYSE American under the symbol “SLI”; and on the Frankfurt Stock Exchange under the symbol “S5L”. Please visit the Company’s website at www.standardlithium.com.

Investor and Media Inquiries

Allysa Howell
Vice President, Corporate Communications
+1 720 484 1147
a.howell@standardlithium.com

Twitter: @standardlithium
LinkedIn: https://www.linkedin.com/company/standard-lithium/

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and other similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to intended development timelines, future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals, the reliability of third party information, continued access to mineral properties or infrastructure, fluctuations in the market for lithium and its derivatives, changes in exploration costs and government regulation in Canada and the United States, and other factors or information. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.


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To: LoneClone who wrote (22522)5/10/2024 4:07:30 PM
From: LoneClone
   of 22791
 
Standard Lithium Reports Fiscal Third Quarter 2024 Results, Schedules Investor Update Call

ca.finance.yahoo.com

Standard Lithium
Thu, May 9, 2024 at 4:04 a.m. PDT·5 min read

SLI
+12.18%

EQNR.OL
+2.64%

STRATEGIC EXECUTION SECURES LEADING GLOBAL ENERGY PARTNER, EQUINOR. INJECTS IMMEDIATE LIQUIDITY THROUGH DIRECT INVESTMENTS IN SOUTH WEST ARKANSAS AND EAST TEXAS PROJECTS

PARTNERSHIP BRINGS WORLD-CLASS PROJECT DEVELOPMENT CAPABILITIES, ACCELERATING SMACKOVER DEVELOPMENT PATH

VANCOUVER, British Columbia, May 09, 2024 (GLOBE NEWSWIRE) -- Standard Lithium Ltd. (“Standard Lithium” or the “Company”) (TSXV:SLI) (NYSE American:SLI) (FRA:S5L), a leading near-commercial lithium development company, today reported its financial and operating results for the fiscal third quarter ended March 31, 2024.

"In Q3, Standard Lithium continued to execute on our strategic plan, responsibly and efficiently advancing our projects,” stated Standard Lithium CEO Robert Mintak. “While the lithium sector has experienced challenges over the past year, we see positive indicators pointing toward stability, and the fundamentals of the lithium market remain strong. This presents a timely moment to showcase our strengths: a strong asset base, favorable jurisdictions, and an industry-leading Direct Lithium Extraction platform. This transformative partnership with Equinor, a global energy company and recognized leader in renewables and low carbon solutions, validates our strategic path to leverage our Smackover resources and become a globally significant contributor within the lithium market. It strengthens our finances, provides essential expertise, manages risk, and accelerates our progress towards this goal, unlocking long-term value for our shareholders."

Salah Gamoudi, CFO of Standard Lithium stated: “Since joining the Company, we’ve prioritized financial efficiency, by securing capital that was minimally dilutive to our shareholders, but allowed us to ensure project continuity throughout our pursuit of securing a strategic partnership. This approach perfectly aligns with the transformative partnership we’ve secured with Equinor. It enables us to advance our projects in the most value-accretive way for our shareholders while minimizing dilution, cost of capital, and meaningfully lowers future capital requirements. To further take advantage of this momentum, we recently established an office in Austin, Texas. This move enables us to attract top energy sector talent, and allows us to best serve our field and plant employees and communities. Building on our existing strong team with this expertise will empower us to accelerate our execution and advance our projects toward Final Investment Decisions all while collaborating with stakeholders to establish a global model for sustainable development in this uniquely suited region.”

Highlights of the Third Fiscal Quarter Ended March 31, 2024

  • Installed the first commercial-scale direct lithium extraction (“DLE”) column in partnership with Koch Technology Solutions (“KTS”). The Company installed a commercial-scale DLE column at its Demonstration Plant near El Dorado, Arkansas. The column is a Li-Pro™ Lithium Selective Sorption (“LSS”) unit supplied by KTS. The Company intends to test and derisk the LSS unit for commercial use at its Smackover projects.

  • Advanced the South West Arkansas Project (“SWA”) with engineering firm selection. The Company selected Ausenco Engineering Canada ULC to lead the front-end engineering design (“FEED”) and the Definitive Feasibility Study (“DFS”). The Company is now progressing SWA through FEED and DFS.

The Company continued an at-the-market offering program during the fiscal third quarter, issuing a total of 1,284,300 common shares on the TSX Venture Exchange and 6,609,000 common shares on the NYSE American LLC, providing gross proceeds of Ca$2.4 million and US$9.5 million, respectively. For the nine months ended March 31, 2024, the Company issued 1,384,400 common shares on the TSX Venture Exchange and 7,936,159 common shares on the NYSE American LLC, providing gross proceeds of Ca$2.7 million and US$12.3 million, respectively.

  • Cash and cash equivalents and working capital of Ca$15.7 million and Ca$7.7 million, respectively, as of March 31, 2024.

  • The Company has no term or revolving debt obligations as of March 31, 2024.

Highlights Subsequent to the Third Fiscal Quarter Ended March 31, 2024

  • Company announced outstanding results from successful commissioning of first commercial-scale DLE column at Demonstration Plant near El Dorado, Arkansas. The Company reported that during a representative period of continuous operation, the commercial-scale column exceeded design parameters, achieving an average lithium recovery of 97.3% and rejecting, on average, over 99% of key contaminants. To the best of the Company’s knowledge, the Li-ProTM LSS unit is the only commercial-scale DLE unit operating in North America.

  • Equinor acquired interest in South West Arkansas and East Texas projects for total project-level investment of $160 million. On May 7, 2024, Equinor ASA, an arms-length party, acquired an interest in two Standard Lithium subsidiaries, one of which holds Standard Lithium’s South West Arkansas Project and the other the East Texas properties. Pursuant to the terms of the transaction, Equinor acquired a 45% interest in each of the subsidiaries for an initial cash payment of US$30 million to Standard Lithium and the commitment to invest up to an additional US$130 million as follows:

    • Equinor to solely fund the first US$40 million of development costs at the South West Arkansas Project, after which all additional capital expenditures will be funded on a pro-rata basis;

    • Equinor to solely fund the first US$20 million in exploration and development costs at the East Texas properties, after which all additional capital expenditures will be funded on a pro-rata basis; and

    • Standard Lithium will receive up to US$70 million in milestone payments associated with the South West Arkansas Project and East Texas subject to final investment decisions being made by certain dates.

Consolidated Financial Statements

The Company’s interim financial statements and management's discussion and analysis for the third quarter 2024 ended March 31, 2024, are available on the Company's website at globenewswire.com and under the Company’s profiles on SEDAR+ at www.sedarplus.com and EDGAR at www.sec.gov.

Updated Company Presentation

Investors and interested parties can find an updated Company presentation as of May 2024 at globenewswire.com under “Company Presentation.”

Q3 FISCAL RESULTS CONFERENCE CALL AND WEBCAST

The Company will hold a conference call and webcast to discuss its third quarter fiscal results and the Equinor transaction on Monday, May 13 at 11:00 a.m. EST. Access to the call is available via webcast or direct dial. A link to the webcast and direct dial numbers are provided below:

Conference Call and Webcast Details:
Standard Lithium Fiscal Q3 Earnings Call and Webcast
May 13, 2024 11:00 AM (GMT-05:00) Eastern Time (US and Canada)

Participant Information:
USA / International Toll +1 (646) 307-1963
USA - Toll-Free (800) 715-9871
Canada - Toronto (647) 932-3411
Canada - Toll-Free (800) 715-9871

Attendee Webcast Link:
globenewswire.com

Qualified Person

Steve Ross, P.Geol., a qualified person as defined by National Instrument 43-101, and Vice President Resource Development for the Company, has reviewed and approved the relevant scientific and technical information in this news release.

About Standard Lithium Ltd.

Standard Lithium is a leading near-commercial lithium development company focused on the sustainable development of a portfolio of lithium-brine bearing properties in the United States. The Company prioritizes brine projects characterized by high-grade resources, robust infrastructure, skilled labor, and streamlined permitting. The Company aims to achieve sustainable, commercial-scale lithium production via the application of a scalable and fully-integrated Direct Lithium Extraction (“DLE”) and purification process. The Company’s signature projects, the Phase 1A Project and the South West Arkansas Project, are located on the Smackover Formation in southern Arkansas, a region with a longstanding and established brine processing industry. The Company has also identified a number of highly prospective lithium brine project areas in the Smackover Formation in East Texas and began an extensive brine leasing program in the key project areas. In addition, the Company has an interest in certain mineral leases located in the Mojave Desert in San Bernardino County, California.

Standard Lithium trades on both the TSX Venture Exchange and the NYSE American under the symbol “SLI”; and on the Frankfurt Stock Exchange under the symbol “S5L”. Please visit the Company’s website at www.standardlithium.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target”, “plan”, “forecast”, “may”, “schedule” and other similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to intended development timelines, future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals, the reliability of third party information, continued access to mineral properties or infrastructure, fluctuations in the market for lithium and its derivatives, changes in exploration costs and government regulation in Canada and the United States, and other factors or information. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.

CONTACT: Investor and Media Inquiries Allysa Howell Vice President, Corporate Communications +1 720 484 1147 a.howell@standardlithium.com Twitter: @standardlithium LinkedIn: linkedin.com



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To: LoneClone who wrote (22523)5/10/2024 4:20:40 PM
From: LoneClone
   of 22791
 
[Lithium]
Q2 Metals Announces Assay Results from Its 2024 Winter Drill Program at the Mia Lithium Property, James Bay Territory, Quebec, Canada

newsfilecorp.com

May 10, 2024 3:01 AM EDT | Source: Q2 Metals Corp.

Highlights:

  • Continued presence of wide spodumene-mineralized pegmatites containing high-grade intervals at the Mia Zone confirmed:
    • 13.7 m at 1.28% Li2O, including 9.1 m of 1.79% Li2O (MIA24-033)
    • 8.8 m at 1.33% Li2O, including 5.8 m of 1.71% Li2O (MIA24-039)
  • Continuity of mineralization at the Mia 1, 2 & 3 zones
Vancouver, British Columbia--(Newsfile Corp. - May 10, 2024) - Q2 Metals Corp. (TSXV: QTWO) (OTCQB: QUEXF) (FSE: 458) ("Q2" or the "Company") is pleased to announce core assay results for the drill program completed in the winter of 2024 (the "Winter Drill Program") at the Company's wholly owned, 8,668 hectare ("ha") Mia Lithium Property (the "Property") located in the Eeyou Istchee James Bay Territory of Quebec.

The 2024 Winter Drill Program targeted the western end of the more than 10-kilometre-long Mia Lithium Exploration Trend (the "Mia Trend"), located 22 kilometres ("km") from the Billy Diamond Highway, proximal to major hydro-powerline and all-season road infrastructure. The Mia Trend comprises an approximately 10-km-long series of sub-parallel pegmatite intrusions, of which there are 11 mineralized with spodumene at surface. The individual pegmatite bodies vary in thickness between a few metres ("m") and over 20 m in some cases. Combined with the 2023 fall drill program, a total of 8,685 m was completed over 50 drill holes along the Mia Trend. All assay results from both drill campaigns have now been reported.

Neil McCallum, VP Exploration, commented: "Our modest Winter Drill Program continued to successfully confirm the continuity of the mineralization encountered during our fall drill program at the Mia 1, 2 & 3 Zones. These results have provided us with information about what is happening across the broader Mia Trend and will be used to vector towards areas where we will test for thickening and higher-grade mineralization."

The primary objective of the Winter Drill Program was to follow up on the fall-2023 drilling along the Mia Trend, with a total of 20 drill holes completed for approximately 3,085 m. One drill rig was used to test the main Mia 1, 2 & 3 zones (the "Mia Zone") with 11 drill holes; while a second drill rig tested the greater Mia Trend with nine holes at the Mia 5,6, 7, 8 & Carte Zones.

Drill results at the Mia Zone confirmed the previously announced spodumene mineralization within a continuous pegmatite zone that dips gently to the north (see news release from April 25, 2024; Hole MIA23-004: 17.8 m at 1.51% Li2O, including 12.2 m of 2.16% Li2O).

Thickness of the mineralized zone varies from 8 to 20 m and extends roughly 600 m east-west and roughly 375 m north-south. The pegmatite body appears to be open to the west, east and north. The Winter Drill Program confirmed the continuity of the mineralization in some areas of the zone, while also showing some grade variability at the northern portions of the pegmatite at depth, with pegmatite intervals as expected but without significant lithium grades in holes 42, 44, 46, 48.



Figure 1. Mia Zone, winter 2024 drilling results

To view an enhanced version of this graphic, please visit:
images.newsfilecorp.com



Figure 2. Mia Zone 1, simplified cross-section with winter 2024 results

To view an enhanced version of this graphic, please visit:
images.newsfilecorp.com

The results of the greater Mia Trend have revealed significantly wide pegmatite intervals, with relevantly anomalous LCT-style geochemistry, but without significant lithium intervals. For instance, drill hole MIA24-035 at the Mia 8 Zone intersected 14.9 m of pegmatite, followed by 2.6 m of metasediments, followed by another 20.6 m of pegmatite. The geochemistry revealed elevated rubidium of 989 ppm and only 96 ppm lithium. Additionally, drill hole MIA24-049 at Mia 5 Zone intersected three near-surface pegmatites (1.4 m wide, 2.9m wide and 0.8 m wide) with anomalous lithium (723, 76 and 57 ppm Li, respectively), anomalous rubidium (1,795, 996 and 1276 ppm Rb, respectively) and anomalous tantalum (107, 59 and 116 ppm Ta2O5, respectively); with potassium-rubidium ratios (K/Rb) of 9, 22 and 7, respectively. The positive indicator-geochemistry in drill-holes, combined with anomalous surface geochemistry, indicates the potential for the discovery of additional mineralized zones along the Mia Trend. Drill holes 32, 34, 35, 37, 38 and 41 to 50 all returned elevated but not significant amounts of lithium.



Figure 3. Mia Zones 5, 6, 7, 8, 9 & Carte. Drill hole locations

To view an enhanced version of this graphic, please visit:
images.newsfilecorp.com



Table 1. Summary of winter 2024 drilling results

To view an enhanced version of this graphic, please visit:
images.newsfilecorp.com

2024 Exploration Plans

Due to an abnormal fire season in 2023, much of the Property remains completely untested as the field season was drastically shortened. Further exploration will be undertaken at the Mia Lithium Property during the summer of 2024 with a 2-week long property-wide ground mapping and sampling campaign. The focus of the campaign will be on the continuation of the Mia Trend as well as the prospective Bruce and Lady trends that were identified at the end of the 2023 field season. Several high-priority targets were identified with the high-resolution aerial imagery and LiDAR that was collected at the end of the 2023 season.

Analytical Methods and QA/QC Protocols

All drill core samples were shipped to SGS Canada's preparation facility in Val d'Or, Quebec, for standard sample preparation (code PRP89) which includes drying at 105°C, crush to 75% passing 2 mm, riffle split 250 g, and pulverize 85% passing 75 microns. The pulps were shipped by air to SGS Canada's laboratory in Burnaby, BC, where the samples were homogenized and subsequently analyzed for multi-element (including Li and Ta) using sodium peroxide fusion with ICP-AES/MS finish (code GE_ICM91A50).

A Quality Assurance / Quality Control protocol following industry best practices was incorporated into the sampling program.

Qualified Person

Neil McCallum, B.Sc., P.Geol, is a registered permit holder with the Ordre des Géologues du Québec and Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects, and has reviewed the technical information in this news release. Mr. McCallum is a director and VP Exploration of Q2.

About Q2 Metals Corp

Q2 Metals Corp. is a Canadian mineral exploration company focused on unlocking its portfolio of lithium projects in the Eeyou Istchee James Bay region of Quebec, Canada that includes its 100% owned Mia Lithium Property and its recently acquired Cisco Lithium Property.

The Company's exploration advancement at its 8,668-ha flagship Mia Lithium Property is focused on the more than 10-kilometre-long Mia Trend which is host to both the Mia 1 and Mia 2 lithium occurrences and 11 other mineralized zones along trend.

The Cisco Lithium Property is located approximately 150 km north of Matagami, Quebec and comprised of 222 mineral claims and is 11,374-ha in size. The property has district scale potential with an already identified mineralized zone and a discovery drill result of 115.4 m of 1.21% Li2O (hole CS-23-05), cumulatively in five separate pegmatites.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Alicia Milne
President & CEO
Alicia@Q2metals.com

Jason McBride
Corporate Communications
Jason@Q2metals.com

Telephone: 1 (800) 482-7560
E-mail: info@Q2metals.com

www.Q2Metals.com

Follow the Company: Twitter, LinkedIn, Facebook, and Instagram

Forward-Looking Statements

This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian legislation. Forward-looking statements are typically identified by words such as: "believes", "expects", "anticipates", "intends", "estimates", "plans", "may", "should", "would", "will", "potential", "scheduled" or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. Accordingly, all statements in this news release that are not purely historical are forward-looking statements and include statements regarding beliefs, plans, expectations and orientations regarding the future including, without limitation, any statements or plans regard the geological prospects of the Company's properties and the future exploration endeavors of the Company. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions.

Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in such forward-looking statements. The forward-looking statements in this news release speak only as of the date of this news release or as of the date specified in such statement. Forward-looking statements in this news release include, but are not limited to, exploration results on the Cisco Property and inferences made therefrom, the focus of the Company's current and future exploration and drill programs, the scale, scope and location of future exploration and drilling activities, the Company's expectations in connection with the projects and exploration programs being met, the Company's objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, variations in ore grade or recovery rates, changes in project parameters as plans continue to be refined, unsuccessful exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same. Readers are cautioned that mineral exploration and development of mines is an inherently risky business and accordingly, the actual events may differ materially from those projected in the forward-looking statements. Additional risk factors are discussed in the section entitled "Risk Factors" in the Company's Management Discussion and Analysis for its recently completed fiscal period, which is available under Company's SEDAR profile at www.sedarplus.ca.

Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.

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 release.

SOURCE: Q2 Metals Corp.

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To: LoneClone who wrote (22524)5/10/2024 4:21:57 PM
From: LoneClone
   of 22791
 
GMV Minerals Files Notice of Intent to Drill Daisy Lithium Creek Project in Lander County, Nevada

accesswire.com

Friday, 03 May 2024 05:05 PM

VANCOUVER, BC / ACCESSWIRE / May 3, 2024 / GMV Minerals Inc. (the "Company" or "GMV") (TSXV:GMV)(OTCQB:GMVMF) is pleased to announce that it has filed permitting documentation with the Bureau of Land Management (BLM) for GMV's Daisy Creek lithium/uranium project in Lander County, Nevada.

The Notice of Intent (NOI) covers a six hole drill program up to a total depth of 3000 feet and focuses on the most prospective lithium targets as defined by recent geophysical work. Upon approval and receipt of permits, GMV is targeting to drill its Daisy Creek project in June/July 2024 and will provide further updates as new information comes available.

In addition, the Company has applied to the TSX Venture Exchange to extend the expiry date for 4,500,000 of its outstanding unlisted common share purchase warrants (the "Warrants"). The Warrants, each of which is currently exercisable to purchase one common share of the Company at $0.16 per share, were originally issued by the Company as part of non-brokered unit private placement financing completed on June 8, 2022. The Company will extend the original warrant expiry date of June 24, 2024 to 4:30 pm PST on June 24, 2025 subject to TSX Venture Exchange approval.
The Company currently has an aggregate of 4,500,000 Warrants issued and outstanding pertaining to the above-noted Private Placement, all of which are eligible for amendment, pursuant to the policies of the Exchange.

Dr. D.R. Webb, Ph.D., P.Geo., P.Eng. is the Q.P. for this release within the meaning of NI 43-101 and has reviewed the technical content of this release and has approved its content.

About GMV Minerals Inc.

GMV Minerals Inc. is a publicly traded exploration company focused on developing precious metal assets in Arizona. GMV, through its 100% owned subsidiary, has a 100% interest in a Mining Property Lease commonly referred to as the Mexican Hat Property, located in Cochise County, Arizona, USA. The project was initially explored by Placer Dome (USA) in the late 1980's to early 1990's. GMV is focused on developing the asset and realizing the full mineral potential of the property through near term gold production. The Company's NI 43-101 resource estimate (Inferred) is 36,733,000 tonnes grading 0.58 g/t gold at a 0.2 g/t cut-off, containing 688,000 ounces of gold. In 2023, GMV acquired a total of 165 lode claims covering 3,408 acres in Lander County, Nevada where it is exploring highly prospective claims for lithium.

ON BEHALF OF THE BOARD OF DIRECTORS

Ian Klassen, President

For further information please contact:

GMV Minerals Inc.
Ian Klassen
Tel: (604) 899-0106
Email: Klassen@gmvminerals.com

Cautionary Statement Regarding Forward-Looking Information

This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties as described in the Company's filings with Canadian securities regulators. 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 statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Neither 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 release.

SOURCE: GMV Minerals, Inc.

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To: LoneClone who wrote (22525)5/10/2024 4:23:04 PM
From: LoneClone
   of 22791
 
Arcadium Lithium Releases First Quarter 2024 Results

prnewswire.com

Arcadium Lithium PLC May 07, 2024, 16:05 ET

PHILADELPHIA and PERTH, Australia, May 7, 2024 /PRNewswire/ --

  • Solid First Quarter Results Driven by Average Realized Pricing for Lithium Hydroxide and Carbonate of Over $20,000 / product metric ton
  • On Track to Achieve $60 to 80 million of Realized Synergies / Cost Savings in 2024
  • Multiple Expansions Provide Pathway to 170,000 LCEs1 of Capacity by 2026
Arcadium Lithium plc (NYSE: ALTM, ASX: LTM, "Arcadium Lithium") today reported results for the first quarter of 2024.

First Quarter Highlights

"Arcadium Lithium completed its first quarter as a combined company following merger close in early 2024 and we have taken initial steps that will allow us to deliver on the significant value of the combination," said Paul Graves, president and chief executive officer of Arcadium Lithium.

"The Company achieved average realized pricing of over $20,000 per product metric ton for its combined hydroxide and carbonate volumes in the first quarter. Our multi-year customer relationships and wide range of high-quality lithium products allow us to reduce the overall volatility of our earnings while maximizing the value per unit of lithium sold. We see encouraging signs in the lithium market and underlying demand fundamentals remain very strong. Prices have increased from the cycle bottom and appear to have stabilized at levels that are notably higher than what we saw in the last downturn."

First quarter revenue was $261 million and reported attributable GAAP net income was $15.6 million, or 1 cent per diluted share. Adjusted EBITDA was $108.8 million and adjusted earnings per diluted share2 were 6 cents.

Combined volumes in the first quarter were down versus the prior quarter, driven primarily by a decline in spodumene sales due to lower production at Mt. Cattlin. Prices were slightly higher across most lithium products versus the prior quarter due to an initial improvement in lithium market conditions, although were down compared to the beginning of 2023.

Arcadium Lithium remains on track to realize synergy and cost savings totaling $60 to 80 million in 2024, with most of these savings expected to be realized in the remaining three quarters of the year. The Company has already taken meaningful steps to lower costs, including reducing its global workforce by approximately 11% across regions and functions in the first quarter.




1

Lithium Carbonate Equivalent.

2

Corresponds to Diluted adjusted after-tax earnings per share in the accompanying financial tables.




Capacity Expansions

"The Company is bringing into production additional capacity in 2024 according to plan while also investing in the next series of expansions," continued Graves. "By the end of 2026, we expect to increase total capacity to 170,000 LCEs, or over four times production levels in 2023. This pathway to significant near-term volume growth puts our company in a unique position within our industry. There is no doubt that post-merger, we are stronger and more resilient, and we remain confident investing in our highly attractive assets throughout market cycles."

Arcadium Lithium continues to successfully commission its completed expansions. For lithium carbonate in Argentina, the first 10,000 metric ton expansion at Fénix is fully commissioned and producing lithium carbonate at close to full capacity rates. The 25,000 metric ton expansion at Olaroz is also producing lithium carbonate, although at lower rates recognizing the longer ramp-up period needed for conventional pond-based extraction.

For lithium hydroxide, the new 5,000 metric ton unit in Bessemer City (U.S.) and 15,000 metric ton unit in Zhejiang (China) are undergoing qualification with key customers. They are expected to produce commercial volumes in 2024 and to produce at close to nameplate capacities as lithium carbonate production in Argentina increases to feed them.

The Company remains on track to achieve a 40% increase in combined lithium hydroxide and lithium carbonate sales volumes for the full year, with volume growth weighted towards the second half of 2024.

Arcadium Lithium is also advancing multiple ongoing capacity expansions in Argentina and Canada. This next phase of growth will add a further 95,000 metric tons of additional nameplate production capacity by the end of 2026. In Argentina, it includes an additional 10,000 metric tons of lithium carbonate capacity at Fénix (1B) and 15,000 metric tons of carbonate capacity at Sal de Vida. In Canada, it includes 32,000 metric tons of fully integrated spodumene to lithium hydroxide production at Nemaska Lithium and up to 40,000 metric ton LCEs of spodumene from Galaxy (formerly "James Bay").

In order to fund these expansions, Arcadium Lithium expects to spend roughly $1.6 billion in growth capital in the three years from 2024 to 2026. The Company believes that it is in a strong position to complete these growth projects and will adapt its expansion plans as market conditions demand. The company has multiple available sources of funding, with the main sources coming from currently available cash plus free cash flow generation that will be strengthened by new production volumes coming online. Beyond this, the Company has a $500 million undrawn revolving credit facility that can be expanded up to $700 million and will pursue other potential financing options such as government loans and grants, customer prepayments, asset level financings, or strategic partnerships.

Arcadium Lithium Contacts

Investors:
Daniel Rosen +1 215 299 6208
daniel.rosen@livent.com

Phoebe Lee +61 413 557 780
phoebe.lee@allkem.co

Media:
Karen Vizental +54 9 114 414 4702
karen.vizental@allkem.co

Supplemental Information

In this press release, Arcadium Lithium uses the financial measures Adjusted EBITDA, Diluted adjusted after-tax earnings per share, and Adjusted cash provided by operations. These terms are not calculated in accordance with generally accepted accounting principles (GAAP). Definitions of these terms, as well as a reconciliation to the most directly comparable financial measure calculated and presented in accordance with GAAP, are provided on our website: ir.arcadiumlithium.com. Such reconciliations are also set forth in the financial tables that accompany this press release.

About Arcadium Lithium

Arcadium Lithium is a leading global lithium chemicals producer committed to safely and responsibly harnessing the power of lithium to improve people's lives and accelerate the transition to a clean energy future. We collaborate with our customers to drive innovation and power a more sustainable world in which lithium enables exciting possibilities for renewable energy, electric transportation and modern life. Arcadium Lithium is vertically integrated, with industry-leading capabilities across lithium extraction processes, including hard-rock mining, conventional brine extraction and direct lithium extraction (DLE), and in lithium chemicals manufacturing for high performance applications. We have operations around the world, with facilities and projects in Argentina, Australia, Canada, China, Japan, the United Kingdom and the United States. For more information, please visit us at www.ArcadiumLithium.com.

Important Information and Legal Disclaimer:

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Certain statements in this news release are forward-looking statements. In some cases, we have identified forward-looking statements by such words or phrases as "will likely result," "is confident that," "expect," "expects," "should," "could," "may," "will continue to," "believe," "believes," "anticipates," "predicts," "forecasts," "estimates," "projects," "potential," "intends" or similar expressions identifying "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including the negative of those words and phrases. Such forward-looking statements are based on our current views and assumptions regarding future events, future business conditions and the outlook for Arcadium Lithium based on currently available information. There are important factors that could cause Arcadium Lithium's actual results, level of activity, performance or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied by the forward-looking statements, including the factors described under the caption entitled "Risk Factors" in Arcadium Lithium's 2023 Form 10-K filed with the Securities and Exchange Commission ("SEC") on February 29, 2024, as well as Arcadium Lithium's other SEC filings and public communications. Although Arcadium Lithium believes the expectations reflected in the forward-looking statements are reasonable, Arcadium Lithium cannot guarantee future results, level of activity, performance or achievements. Moreover, neither Arcadium Lithium nor any other person assumes responsibility for the accuracy and completeness of any of these forward-looking statements. Arcadium Lithium is under no duty to update any of these forward-looking statements after the date of this news release to conform its prior statements to actual results or revised expectations.




ARCADIUM LITHIUM PLC

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited, in millions, except per share data)



Three Months Ended March 31,


2024


2023 (1)

Revenue

$ 261.2


$ 253.5

Costs of sales

116.8


87.5

Gross margin

144.4


166.0

Selling, general and administrative expenses

39.9


16.3

Research and development expenses

1.1


1.0

Restructuring and other charges

83.6


1.9

Total costs and expenses

241.4


106.7

Income from operations before equity in net loss of unconsolidated affiliate, interest income, net, loss on debt extinguishment and other gain

19.8


146.8

Equity in net loss of unconsolidated affiliate




8.1

Interest income, net

(11.0)




Loss on debt extinguishment

0.2




Other gain

(43.1)




Income from operations before income taxes

73.7


138.7

Income tax expense

53.8


23.9

Net income

$ 19.9


$ 114.8

Net income attributable to noncontrolling interests

4.3




Net income attributable to Arcadium Lithium plc

$ 15.6


$ 114.8

Basic earnings per ordinary share

$ 0.01


$ 0.27

Diluted earnings per ordinary share

$ 0.01


$ 0.23

Weighted average ordinary shares outstanding - basic

1,053.4


432.0

Weighted average ordinary shares outstanding - diluted

1,122.1


503.3






_______________________

1.

For the three months ended March 31, 2023, basic and diluted earnings per ordinary share and weighted average ordinary shares outstanding - basic and diluted amounts represent predecessor Livent and have been adjusted to reflect the 2.406 Exchange Ratio. Represents the results of predecessor Livent's operations for three months ended March 31, 2023 which do not include the operations of Allkem.






ARCADIUM LITHIUM PLC

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES



RECONCILIATION OF NET INCOME ATTRIBUTABLE TO ARCADIUM LITHIUM PLC (GAAP) TO ADJUSTED EBITDA (NON-GAAP)

(Unaudited)



Three Months Ended March 31,

(in Millions)

2024


2023 (1)

Net income attributable to Arcadium Lithium plc

$ 15.6


$ 114.8

Add back:




Net income attributable to noncontrolling interests

4.3




Interest income, net

(11.0)




Income tax expense

53.8


23.9

Depreciation and amortization

17.2


6.8

EBITDA (Non-GAAP) (2)

79.9


145.5

Add back:




Argentina remeasurement (gains)/losses (a)

(38.6)


4.1

Restructuring and other charges (b)

83.6


1.9

Loss on debt extinguishment (c)

0.2




Inventory step-up, Allkem Livent Merger (d)

15.8




Other (gain)/loss (e)

(12.4)


5.9

Subtract:




Blue Chip Swap gain (f)

(19.7)




Adjusted EBITDA (Non-GAAP) (2)

$ 108.8


$ 157.4






__________________

1.

Represents the results of predecessor Livent's operations for three months ended March 31, 2023 which do not include the operations of Allkem.

2.

We evaluate operating performance using certain Non-GAAP measures such as EBITDA, which we define as net income attributable to Arcadium Lithium plc plus noncontrolling interests, interest expense, net, income tax expense and depreciation and amortization; and Adjusted EBITDA, which we define as EBITDA adjusted for Argentina remeasurement losses, restructuring and other charges, Merger-related inventory step-up, certain Blue Chip Swap gains and other losses/(gains). Management believes the use of these Non-GAAP measures allows management and investors to compare more easily the financial performance of its underlying business from period to period. The Non-GAAP information provided may not be comparable to similar measures disclosed by other companies because of differing methods used by other companies in calculating EBITDA and Adjusted EBITDA. This measure should not be considered as a substitute for net income or other measures of performance or liquidity reported in accordance with U.S. GAAP. The above table reconciles EBITDA and Adjusted EBITDA from net income.

a.

Represents impact of currency fluctuations on tax assets and liabilities and long-term monetary assets associated with our capital expansion as well as foreign currency devaluations. The remeasurement losses are included within "Cost of sales" in our condensed consolidated statements of operations but are excluded from our calculation of Adjusted EBITDA because of: i.) their nature as income tax related; ii.) their association with long-term capital projects which will not be operational until future periods; or iii.) the severity of the devaluations and their immediate impact on our operations in the country.

b.

We continually perform strategic reviews and assess the return on our business. This sometimes results in management changes or in a plan to restructure the operations of our business. As part of these restructuring plans, demolition costs and write-downs of long-lived assets may occur. Severance-related and exit costs were $10.9 million and $1.7 million for the three months ended March 31, 2024 and 2023, respectively. The three months ended March 31, 2024 also includes integration costs related to the Allkem Livent Merger of $67.0 million.

c.

Represents the partial write-off of deferred financing costs for amendments to the Revolving Credit Facility excluded from our calculation of Adjusted EBITDA because the loss is nonrecurring.

d.

Relates to the step-up in inventory recorded for Allkem Livent Merger for the three months ended March 31, 2024 as a result of purchase accounting, excluded from Adjusted EBITDA as the step-up is considered a one-time, non-recurring cost.

e.

The three months ended March 31, 2024 primarily represents foreign currency remeasurement gains related to U.S. dollar denominated cash balances temporarily held at a foreign currency-functional subsidiary. The three months ended March 31, 2023, prior to consolidation of Nemaska Lithium Inc. ("NLI") on October 18, 2023, represents our 50% ownership interest in costs incurred for certain project-related costs to align NLI's reported results with Arcadium's capitalization policies and interest expense incurred by NLI, all included in Equity in net loss of unconsolidated affiliate in our condensed consolidated statements of operations. The Company consolidates NLI on a one-quarter lag basis and prior to October 18, 2023, accounted for its equity method investment in NLI on a one-quarter lag basis.

f.

Represents non-recurring gain from the sale in Argentina pesos of Argentina Sovereign U.S. dollar-denominated bonds.






RECONCILIATION OF NET INCOME ATTRIBUTABLE TO ARCADIUM LITHIUM PLC (GAAP) TO

ADJUSTED AFTER-TAX EARNINGS (NON-GAAP)

(Unaudited)


(in Millions, Except Per Share Data)

Three Months Ended March 31,

2024


2023 (1)

Net income attributable to Arcadium Lithium plc

$ 15.6


$ 114.8

Special charges:




Argentina remeasurement (gains)/losses (a)

(38.6)


4.1

Restructuring and other charges (b)

83.6


1.9

Loss on debt extinguishment (c)

0.2




Inventory step-up, Allkem Livent Merger (d)

15.8




Other (gain)/loss (e)

(12.4)


5.9

Blue Chip Swap gain (f)

(19.7)




Non-GAAP tax adjustments (g)

28.2


(0.7)

Adjusted after-tax earnings (Non-GAAP) (2)

$ 72.7


$ 126.0





Diluted earnings per ordinary share (GAAP)

$ 0.01


$ 0.23

Special charges per diluted share, before tax:




Argentina remeasurement losses, per diluted share

(0.03)


0.01

Restructuring and other charges, per diluted share

0.07




Inventory step-up, Allkem Livent Merger, per diluted share

0.01




Other loss, per diluted share

(0.01)


0.01

Blue Chip Swap gain, per diluted share

(0.02)




Non-GAAP tax adjustments, per diluted share

0.03




Diluted adjusted after-tax earnings per share (Non-GAAP) (2)

$ 0.06


$ 0.25

Weighted average ordinary shares outstanding - diluted (Non-GAAP) used in diluted adjusted after-tax earnings per share computations

1,122.1


503.3






___________________

1.

For the three months ended March 31, 2023, diluted earnings per ordinary share (GAAP), weighted average ordinary shares outstanding - diluted (Non-GAAP) and all per diluted share amounts represent predecessor Livent and have been adjusted to reflect the 2.406 Exchange Ratio. Represents the results of predecessor Livent's operations for three months ended March 31, 2023 which do not include the operations of Allkem.

2.

The Company believes that the Non-GAAP financial measures "Adjusted after-tax earnings" and "Diluted adjusted after-tax earnings per share" provide useful information about the Company's operating results to management, investors and securities analysts. Adjusted after-tax earnings excludes the effects of, nonrecurring charges/(income) and tax-related adjustments. The Company also believes that excluding the effects of these items from operating results allows management and investors to compare more easily the financial performance of its underlying business from period to period. Diluted adjusted after-tax earnings per share (Non-GAAP) is calculated using weighted average common shares outstanding - diluted.

a.

Represents impact of currency fluctuations on tax assets and liabilities and long-term monetary assets associated with our capital expansion as well as foreign currency devaluations. The remeasurement losses are included within "Cost of sales" in our condensed consolidated statements of operations but are excluded from our calculation of Adjusted EBITDA because of: i.) their nature as income tax related; ii.) their association with long-term capital projects which will not be operational until future periods; or iii.) the severity of the devaluations and their immediate impact on our operations in the country.

b.

We continually perform strategic reviews and assess the return on our business. This sometimes results in management changes or in a plan to restructure the operations of our business. As part of these restructuring plans, demolition costs and write-downs of long-lived assets may occur. Severance-related and exit costs were $10.9 million and $1.7 million for the three months ended March 31, 2024 and 2023, respectively. The three months ended March 31, 2024 also includes integration costs related to the Alkem Livent Merger of $67.0 million.

c.

Represents the partial write-off of deferred financing costs for amendments to the Revolving Credit Facility excluded from our calculation of Adjusted EBITDA because the loss is nonrecurring.

d.

Relates to the step-up in inventory recorded for Allkem Livent Merger for the three months ended March 31, 2024 as a result of purchase accounting, excluded from Adjusted EBITDA as the step-up is considered a one-time, non-recurring item.

e.

The three months ended March 31, 2024 primarily represents foreign currency remeasurement gains related to U.S. dollar-denominated cash balances temporarily held at a foreign currency-functional subsidiary. The three months ended March 31, 2023, prior to consolidation of Nemaska Lithium Inc. ("NLI") on October 18, 2023, represents our 50% ownership interest in costs incurred for certain project-related costs to align NLI's reported results with Arcadium's capitalization policies and interest expense incurred by NLI, all included in Equity in net loss of unconsolidated affiliate in our condensed consolidated statements of operations. The Company consolidates NLI on a one-quarter lag basis and prior to October 18, 2023, accounted for its equity method investment in NLI on a one-quarter lag basis.

f.

Represents the non-recurring gain from the sale in Argentina pesos of Argentina Sovereign U.S. dollar-denominated bonds.

g.

The company excludes the GAAP tax provision, including discrete items, from the Non-GAAP measure "Diluted adjusted after-tax earnings per share", and instead includes a Non-GAAP tax provision based upon the annual Non-GAAP effective tax rate. The GAAP tax provision includes certain discrete tax items including, but not limited to: income tax expenses or benefits that are not related to operating results in the current year; tax adjustments associated with fluctuations in foreign currency remeasurement of certain foreign operations; certain changes in estimates of tax matters related to prior fiscal years; certain changes in the realizability of deferred tax assets and related accounting impacts; and changes in tax law. Management believes excluding these discrete tax items assists investors and securities analysts in understanding the tax provision and the effective tax rate related to operating results thereby providing investors with useful supplemental information about the company's operational performance. The income tax expense/(benefit) on special charges/(income) is determined using the applicable rates in the taxing jurisdictions in which the special charge or income occurred and includes both current and deferred income tax expense/(benefit) based on the nature of the Non-GAAP performance measure.







Three Months Ended March 31,

(in Millions)

2024


2023

Non-GAAP tax adjustments:




Income tax benefit on restructuring and other charges and other corporate costs

$ (17.5)


$ (0.5)

Revisions to our tax liabilities due to finalization of prior year tax returns

1.0




Foreign currency remeasurement (net of valuation allowance) and other discrete items

38.3


1.2

Blue Chip Swap gain

4.6




Other discrete items

1.8


(1.4)

Total Non-GAAP tax adjustments

$ 28.2


$ (0.7)






RECONCILIATION OF CASH (USED IN)/PROVIDED BY OPERATING ACTIVITIES (GAAP) TO

ADJUSTED CASH PROVIDED BY OPERATIONS (NON-GAAP)

(Unaudited)



Three Months Ended March 31,

(in Millions)

2024


2023 (1)

Cash (used in)/provided by operating activities (GAAP)

$ (91.9)


$ 102.9

Restructuring and other charges

126.7


1.3

Adjusted cash provided by operations (Non-GAAP) (2)

$ 34.8


$ 104.2






___________________

1.

Represents the results of predecessor Livent's operations for three months ended March 31, 2023 which do not include the operations of Allkem.

2.

The Company believes that the Non-GAAP financial measure "Adjusted cash provided by operations" provides useful information about the Company's cash flows to investors and securities analysts. Adjusted cash provided by operations excludes the effects of transaction-related cash flows. The Company also believes that excluding the effects of these items from cash (used in)/provided by operating activities allows management and investors to compare more easily the cash flows from period to period.






RECONCILIATION OF LONG-TERM DEBT (GAAP) AND CASH AND CASH EQUIVALENTS (GAAP) TO

NET DEBT (NON-GAAP)

(Unaudited)




(in Millions)

March 31, 2024


December 31, 2023 (1)

Long-term debt (including current maturities) (GAAP) (a)

$ 583.3


$ 302.0

Less: Cash and cash equivalents (GAAP)

(472.7)


(237.6)

Net debt (Non-GAAP) (2)

$ 110.6


$ 64.4






___________________

1.

Represents the financial position of predecessor Livent as of December 31, 2023, which does not include the financial position of Allkem.

2.

The Company believes that the Non-GAAP financial measure "Net debt" provides useful information about the Company's cash flows and liquidity to investors and securities analysts.

a.

Presented net of unamortized discounts of $22.2 million as of March 31, 2024 and December 31, 2023.






ARCADIUM LITHIUM PLC

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited)


(in Millions)

March 31, 2024


December 31, 2023 (1)

Cash and cash equivalents

$ 472.7


$ 237.6

Trade receivables, net of allowance of approximately $0.1 in 2024 and $0.3 in 2023

93.5


106.7

Inventories

328.8


217.5

Other current assets

165.7


86.4

Total current assets

1,060.7


648.2

Investments

38.6


34.8

Property, plant and equipment, net of accumulated depreciation of $279.1 in 2024 and $269.1 in 2023

6,793.7


2,237.1

Right of use assets - operating leases, net

55.6


6.8

Goodwill

1,309.9


120.7

Other intangibles, net

56.8


53.4

Deferred income taxes

35.9


1.4

Other assets

442.1


127.7

Total assets

$ 9,793.3


$ 3,230.1





Total current liabilities

534.5


268.6

Long-term debt

502.7


299.6

Contract liabilities - long-term

218.3


217.8

Other long-term liabilities

1,575.5


160.3

Total Arcadium Lithium plc shareholders' equity

6,183.4


1,784.2

Noncontrolling interests

778.9


499.6

Total liabilities and equity

$ 9,793.3


$ 3,230.1






___________________

1.

Represents the financial position of predecessor Livent as of December 31, 2023, which does not include the financial position of Allkem.






ARCADIUM LITHIUM PLC

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)



Three Months Ended March 31,

(in Millions)

2024


2023 (1)

Cash (used in)/provided by operating activities

$ (91.9)


$ 102.9

Cash provided by/(used in) investing activities

365.3


(98.1)

Cash used in financing activities

(21.6)


(0.1)

Effect of exchange rate changes on cash

(16.7)


0.4

Increase in cash and cash equivalents

235.1


5.1

Cash and cash equivalents, beginning of period

237.6


189.0

Cash and cash equivalents, end of period

$ 472.7


$ 194.1






___________________

1.

Represents the results of predecessor Livent's operations for three months ended March 31, 2023 which do not include the operations of Allkem.




SOURCE Arcadium Lithium PLC



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To: LoneClone who wrote (22526)5/10/2024 4:32:19 PM
From: LoneClone
   of 22791
 
Plithium/Boron]
Canter Resources Receives Additional Permits and Expands Geoprobe Drill Program at Columbus

newsfilecorp.com

May 09, 2024 7:00 AM EDT | Source: Canter Resources Corp.

Vancouver, British Columbia--(Newsfile Corp. - May 9, 2024) - Canter Resources Corp. (CSE: CRC) (OTC Pink: CNRCF) (FSE: 6O1) ("Canter" or the "Company") is pleased to report that the Company has received additional permits and has expanded its Phase I Geoprobe drill program at the Company's Columbus Lithium-Boron Project ("Columbus" or the "Project"), located near Tonopah, Nevada. The Company is targeting lithium and boron enriched sediment and brine samples from this first phase of drilling within the upper 100 feet (30 metres) at Columbus.

"The Geoprobe drilling has proved to be an effective low-cost and low-impact approach for capturing sediment and brine samples and with additional permits now in hand we will be increasing the current campaign by 5-10 holes to test a series of additional lithium and boron target areas at Columbus," stated Canter CEO Joness Lang. "This program is delivering valuable subsurface data within the highly conductive upper layers across kilometres of strike length. We continue to apply for additional permits and are engaging with our drilling partner with a view towards expanding Geoprobe drilling even further in the coming weeks."

The Company's expanded drill plan (15+ drill holes) will include a series of Geoprobe holes to the west where the 3D modeled HSAMT resistivity shells remain open (see Figure 1) and previous surface sampling returned highly anomalous lithium values (see 2024 press releases March 20th and April 8th). A total of 22 locations have now been permitted for Geoprobe drilling and the Company continues to apply for additional permits in anticipation of completing a second phase of drilling with Cascade Drilling LP utilizing a different Geoprobe rig model that is expected to allow the Company to reach depths of up to 150 feet (45 metres).

The gravel transport and stockpiling work that was carried out by Merritt Construction for exploration well drill site preparation has now been completed (see press release May 1, 2024). The expanded Phase I Geoprobe drill campaign is expected to conclude by mid-May, with assay results expected two to four (2-4) weeks after program completion.

Boron Market & Potential at Columbus

The boron ("B") market is rapidly emerging as a critical mineral due to its use in numerous high-tech and clean energy applications, making the presence of boron mineralization at the Columbus Project potentially significant. The boron market is expected to grow to more than $3 billion by 20271 with Rio Tinto's US Borax and Turkey's state-owned Eti Maden collectively accounting for an estimated 85 percent of global supply.2 Significant boron deposits are recognized as being rare and the Company considers the potential for significant boron concentrations at Columbus to be excellent. Past borax production at Columbus (late 1800's), significant boron concentrations at Ioneer's ($300M USD market capitalization) feasibility-stage Rhyolite Ridge Project (sediment/clay-hosted) located 17 miles from Columbus (sharing the same volcanic source rocks) and significant historical boron values in sedimentary units from historical drilling at Columbus underpin the discovery potential.


Figure 1. Map showing Geoprobe drill hole locations and historical lithium and boron surface soil/brine sample results at the Columbus Lithium-Boron Project.

To view an enhanced version of this graphic, please visit:
images.newsfilecorp.com

The additional Geoprobe drill hole locations are spaced at approximately 1 kilometre ("km") and will fill current data gaps within the western portion of the Project and provide initial shallow testing for lithium and boron approximately 2 km to the west of the <0.5 ohm-metre HSAMT anomaly that is open in that direction. The Company is in the process of preparing an additional 10-20 permit applications for further planned Geoprobe drilling that will include additional locations to the south of the Company's completed north-south grid and locations to the north where one of two known geothermal inputs is located. Geothermal activity is an important mechanism for liberating lithium and boron from sediments into brines and the fact there are known geothermal inputs along structures at both ends of the basin provides additional support for enriched brine potential at Columbus.

Phase II Geoprobe drilling could commence as early as late May.

Disclaimer notes: Mineralization hosted on nearby or adjacent properties is not necessarily indicative of mineralization at the Columbus Project. Historical drill or sample results quoted herein are based on historical data and reports obtained and prepared by previous operators. The Company's qualified person has not undertaken adequate work to verify the historical surface sampling results and the Company is unable to confirm the reliability of the QA/QC procedures undertaken by previous operators. Accordingly, there is no assurance as to the accuracy or completeness of included historical information. The Company has no plans to use historical results for mineral resource estimation or any other purpose other than providing general context for geological modelling and targeting. The Company's current sampling, Geoprobe drilling and future exploration work is being completed under strict QA/QC protocols for both solid and wet samples under the supervision of the Company's own technical personnel and Qualified Person to ensure reliable data corresponding to the Company's primary target areas is generated and reported under best practices.

Qualified Person (QP)

The technical information contained in this news release was reviewed and approved by Eric Saderholm P.Geo, Director and Technical Advisor of Canter Resources, a Qualified Person (QP), as defined under National Instrument 43- 101 - Standards of Disclosure for Mineral Projects.

About Canter Resources Corp.

Canter Resources Corp. is a Canadian junior mineral exploration company advancing the Columbus Lithium-Boron Project in Nevada, USA and the Beaver Creek Lithium Property in Montana, USA. The Company is conducting a Phase I exploration campaign at Columbus to test a highly prospective lithium-boron brine target and plans to leverage the Company's critical metals targeting database to generate a portfolio of high-quality projects with the aim of defining mineral resources that support the domestic clean energy supply chain in North America.

For further information contact:

Joness Lang
Chief Executive Officer
Canter Resources Corp.
Tel: 778.382.1193
jlang@canterresources.com

For investor inquiries contact:

Kristina Pillon, High Tide Consulting Corp.
Tel: 604.908.1695
investors@canterresources.com

The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release. The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this news release.

1 Global Boron Market Report 2024
2 Boron: The Overlooked Critical Material - Seeking Alpha 2022

SOURCE: Canter Resources Corp.

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To: LoneClone who wrote (22527)5/13/2024 1:53:35 PM
From: LoneClone
   of 22791
 
[Antimony] Perpetua Resources Announces First Quarter 2024 and Recent Highlights

newswire.ca

Perpetua Resources Corp. May 13, 2024, 07:00 ET

BOISE, ID, May 13, 2024 /CNW/ - Perpetua Resources Corp. (Nasdaq: PPTA) (TSX: PPTA) ("Perpetua Resources" or "Perpetua" or the "Company") announced today that its unaudited condensed consolidated financial results for the period ended March 31, 2024 were filed. For details, please see the Company's filings available on EDGAR and SEDAR.

Perpetua Resources' vision is to provide the U.S. with a domestic source of the critical mineral antimony, develop one of the largest and highest-grade open pit gold mines in the country and restore an abandoned brownfield site. Perpetua Resources is focused on advancing the permitting for the Stibnite Gold Project ("Stibnite Gold Project" or "Project") through the National Environmental Policy Act ("NEPA") process and construction readiness for the Project.

First Quarter 2024 and other Recent Highlights:

  • Zero lost time incidents or reportable environmental spills.
  • Awarded additional funding of $34.4 million through modified Technology Investment Agreement ("TIA") under Title III of the Defense Production Act ("DPA").
  • Appointed mining veteran Jonathan Cherry as new President and CEO and as a Director.
  • Appointed Jessica Largent, Chief Financial Officer, as a Director.
  • Received $8.5 million in cash from Franco-Nevada Idaho Corporation through a new royalty agreement for net smelter return royalty on future payable silver production from the Project properties.
  • Received indication for up to $1.8 billion financing from Export-Import Bank of the United States for the Stibnite Gold Project.
  • Advanced constructability reviews, value engineering studies, and detailed engineering for the Burntlog Route, the Company's proposed access route.
  • Continued power line detailed scoping and engineering with Idaho Power.
  • Awarded Basic and Value Engineering Scope for the Stibnite Gold Project.
"Perpetua Resources' accomplishments in the first quarter of 2024 demonstrate continued momentum as we advance the Stibnite Gold Project," said Jon Cherry, President and CEO of Perpetua Resources. "We recently were awarded additional funding of $34.4 million under the Defense Production Act as Perpetua continues to progress permitting and construction readiness activities. We complimented the additional funding through the monetization of our non-core future payable silver, and we received an indication for up to $1.8 billion in financing from U.S. EXIM. Looking forward, we are excited about the forthcoming Final Environmental Impact Statement and Draft Record of Decision, while we continue to focus on unlocking value for our stakeholders."

About Perpetua Resources and the Stibnite Gold Project
Perpetua Resources Corp., through its wholly owned subsidiaries, is focused on the exploration, site restoration and redevelopment of gold-antimony-silver deposits in the Stibnite-Yellow Pine district of central Idaho that are encompassed by the Stibnite Gold Project. The Project is one of the highest-grade, open pit gold deposits in the United States and is designed to apply a modern, responsible mining approach to restore an abandoned mine site and produce both gold and the only mined source of antimony in the United States. Further advancing Perpetua Resources' ESG and sustainable mining goals, the Project will be powered by one of the lowest carbon emissions grid in the nation and a portion of the antimony produced from the Project will be supplied to Ambri, a U.S.-based company commercializing a low-cost liquid metal battery essential for the low-carbon energy transition. Perpetua Resources has been awarded a TIA of $59.2 million in DPA Title III funding to advance construction readiness and permitting of the Project. Antimony trisulfide from Stibnite is the only known domestic source of antimony that can meet U.S. defense needs for many small arms, munitions, and missile types. In addition to the company's commitments to transparency, accountability, environmental stewardship, safety and community engagement, Perpetua Resources adopted formal ESG commitments which can be found here.

Forward-Looking Information and Cautionary Note
Investors should be aware that the Letter of Interest is non-binding and conditional, and does not represent a financing commitment. A funding commitment is conditional upon completing the application, due diligence and underwriting process and receiving all required Project approvals. Additionally, funding under the DPA TIA is available only for the specified costs related to permitting, environmental baseline data monitoring, environmental and technical studies, and advancing construction readiness and is not available to fund the Company's costs under its Administrative Settlement and Order on Consent obligations and certain corporate expenses. Statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, disclosure regarding possible events, next steps and courses of action including our plans to submit a financing application to EXIM; the prospects of successfully securing financing from EXIM on acceptable terms, or at all; the expected timing of, and benefits to the Stibnite Gold Project of, securing such financing from EXIM; environmental clean up actions by us and our contractors; ongoing funding and anticipated liquidity; our ability to comply with and obtain permits related to the Stibnite Gold Project; actions to be taken by the Department of Defense, USFS, the State of Idaho and other government agencies and regulatory bodies; anticipated approval of reimbursement requests under the definitized agreement; our ability to successfully implement and fund the Project and the occurrence of the expected benefits from the Project; our and Ambri Inc.'s ability to perform under the supply agreement, which agreement is subject to certain conditions, including identification of one or more refiners to transform our antimony concentrate into antimony metal, and mutual agreement on certain material terms, including volume and pricing. In certain cases, Forward-Looking Information can be identified by the use of words and phrases or variations of such words and phrases or statements such as "anticipate", "expect" "plan", "likely", "believe", "intend", "forecast", "project", "estimate", "potential", "could", "may", "will", "would" or "should". In preparing the Forward-Looking Information in this news release, Perpetua Resources has applied several material assumptions, including, but not limited to, assumptions that we will successfully complete the EXIM application process and secure project financing on acceptable terms, or at all; as to production rates, operating cost, recovery and metal costs; that any additional financing needed will be available when needed on reasonable terms; that the current exploration, development, environmental and other objectives concerning the Stibnite Gold Project can be achieved and that its other corporate activities will proceed as expected; that the formal review process under the NEPA (including any joint review process involving the USFS, the State of Idaho and other agencies and regulatory bodies) as well as the environmental impact statements will proceed in a timely manner and as expected; that the Project will receive necessary permits and approvals; that we will be able to obtain sufficient funding to finance permitting, pre-construction and construction of the Project and that all requisite information will be available in a timely manner; that the current price and demand for gold and other metals will be sustained or will improve; that general business and economic conditions will not change in a materially adverse manner; that all necessary governmental approvals for the planned exploration, development and environmental protection activities on the Project will be obtained in a timely manner and on acceptable terms; and that the continuity of economic and political conditions and operations of the Company will be sustained. Forward-Looking Information are based on certain material assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Perpetua Resources to be materially different from any future results, performance or achievements expressed or implied by the Forward-Looking Information. Such risks and other factors include, among other things, changes in laws and regulations and changes in the application of standards pursuant to existing laws and regulations which may result in unforeseen results in the permitting process; uncertainty surrounding input to be received from regulators and community stakeholders; risks related to dependence on key personnel; risks related to unforeseen delays in the review process including availability of personnel from the USFS, State of Idaho and other state, federal and local agencies and regulatory bodies (including, but not limited to, potential future U.S. government shutdowns); risks related to opposition to the Project; risks related to increased or unexpected costs in operations or the permitting process; risks that necessary financing will be unavailable when needed on acceptable terms, or at all, and that we will be able to continue as a going concern; risks related to the outcome of litigation and potential for delay of the Project, as well as those factors discussed in Perpetua Resources' public filings with the U.S. Securities and Exchange Commission (the "SEC") and its Canadian disclosure record. Although Perpetua Resources has attempted to identify important factors that could affect Perpetua Resources and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that Forward-Looking Information 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. For further information on these and other risks and uncertainties that may affect the Company's business and liquidity, see the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of the Company's filings with the SEC, including Perpetua's Annual Report on Form 10-K filed with the SEC on March 26, 2024 and subsequent Quarterly Reports on Form 10-Q filed with the SEC, which are available at www.sec.gov and with the Canadian securities regulators, which are available at www.sedar.com. Except as required by law, Perpetua Resources does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

SOURCE Perpetua Resources Corp.

For further information: For further information about Perpetua Resources Corp., please contact: Chris Fogg, Investor Relations Manager, chris.fogg@perpetuacorp.us, Info@perpetuacorp.us; Mckinsey Lyon, Vice President External Affairs, media@perpetua.us; Website: www.perpetuaresources.com



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To: LoneClone who wrote (22528)5/13/2024 1:56:40 PM
From: LoneClone
   of 22791
 
Sayona Mining/Piedmont Lithium: New high-grade zones discovered at North American Lithium

ca.finance.yahoo.com

Sayona Mining
Sun, May 12, 2024 at 9:10 p.m. PDT·3 min read

SYAXF
+1.69%

BRISBANE, Australia, May 13, 2024 (GLOBE NEWSWIRE) --

  • New drilling at North American Lithium (NAL) operation with results from 91 drillholes and wedges totalling 26,605m has identified high-grade lithium mineralisation to the north-west, north-east, south-east and below the Mineral Resource Estimate (MRE) pit shell

  • North-West Extension – New Pegmatites

    • 32.88m @ 1.72% Li2O from 269.62m in drillhole LAN-23-094

    • 19.35m @ 1.63% Li2O from 346.72m in drillhole LAN-23-095

    • 20.05m @ 1.60% Li2O from 350.75m in drillhole LAN-23-139-W1

  • Resources Area – Potential Resources Upgrade or Conversion

    • 47.50m @ 1.29% Li2O from 402.85m in drillhole LAN-23-034

    • 25.65m @ 1.56% Li2O from 320.75m in drillhole LAN-23-044

    • 43.25m @ 1.48% Li2O from 377.75m in drillhole LAN-23-053A

    • 17.95m @ 1.81% Li2O from 168.80m in drillhole LAN-23-062

    • 21.40m @ 1.43% Li2O from 46.95m in drillhole LAN-23-075

    • 57.65m @ 1.54% Li2O from 334.85m in drillhole LAN-23-080

    • 21.90m @ 1.46% Li2O from 138.50m in drillhole LAN-23-085

    • 22.80m @ 1.36% Li2O from 106.30m in drillhole LAN-23-118

  • Additional, new pegmatites discovered to the south-east and north-east of the existing MRE

  • Assay results pending for additional 24 drillholes (4,592m) of the 2023 drilling campaign.

North American lithium producer Sayona Mining Limited (Sayona) (ASX:SYA; OTCQB:SYAXF), announces the discovery and expansion of new mineralised zones at the Company’s North American Lithium (NAL) operation (SYA 75%; Piedmont Lithium 25%) in Québec, Canada.

The newly discovered zones are poised to become a focal point for NAL’s assessment of future mining options. Initial assessments indicate the presence of high-grade lithium mineralisation outside the MRE pit shell which may represent a substantial addition to NAL’s resource portfolio and may contribute to extending NAL’s life of mine.

The 2023 drill program has successfully highlighted the potential of the NAL mine located in Québec’s highly prospective Abitibi-Temiscamingue region and confirm the possible conversion of Inferred resources to Measured and Indicated categories within the MRE pit shell. The program aimed to increase and secure the resource base of the operation while targeting a high reserve conversion rate. A selection of assays results are displayed in Table 1 and Figure 1.

Sayona’s Interim CEO, James Brown commented, “We are very excited by these new discoveries at North American Lithium which highlights the potential of this asset with high-grade mineralisation defined to the north-west, north-east, south-east and below the existing MRE. The team at NAL will now be working to update the Mineral Resource incorporating these significant results. We look forward to continue testing the mineralisation at NAL with further drilling underway."

For the full release please visit: https://www.globenewswire.com/Tracker?data=TQ2EoUKwWga1Rfkd_rwda7hTUCo7LOpBTfqDKZz9X6KICfpdE2MDP72ZhiDU5MEA7SGGLdJ2gbFKtBuWIfz88H7n0FYCF-LtpifXsXPkVacuaOx0bunE-RIhdpCgwTl8RA8U3nmJdZlTJwBPmsBOFlPKnX3_mcNcmdBth5zyOVA=

For investor information, please contact:

Andrew Barber
Investor Relations

Ph: +61 7 3369 7058
Email: ir@sayonamining.com.au

For community and local media enquiries, please contact:

Bianca Galimi
Communications and Community Relations

Ph: +1 819 856-3288
Email: bianca.galimi@sayona.ca


About Sayona Mining

Sayona Mining Limited is a North American lithium producer (ASX:SYA; OTCQB:SYAXF), with projects in Québec, Canada and Western Australia.

In Québec, Sayona’s assets comprise North American Lithium, together with the Authier Lithium Project, and Tansim Lithium Project, supported by a strategic partnership with American lithium developer Piedmont Lithium Inc. Sayona also holds a 60% stake in the significant Moblan Lithium Project in northern Québec.

In Western Australia, the Company holds a large tenement portfolio in the Pilbara region, prospective for gold and lithium. Sayona is exploring for Hemi-style gold targets in the world-class Pilbara region, while its lithium projects include Company-owned leases and those subject to a joint venture with Morella Corporation.

For more information, please visit us at: www.sayonamining.com.au

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To: LoneClone who wrote (22529)5/14/2024 2:38:23 PM
From: LoneClone
   of 22791
 
[Lithium]
Surge Battery Metals Contracts M3 Engineering for Preliminary Economic Assessment

newsfilecorp.com

May 14, 2024 8:00 AM EDT | Source: Surge Battery Metals Inc.

West Vancouver, British Columbia--(Newsfile Corp. - May 14, 2024) - Surge Battery Metals Inc. (TSXV: NILI) (OTCQX: NILIF) (FSE: DJ5) (the "Company" or "Surge") is pleased to announce that the company has contracted M3 Engineering and Technology Corporation (M3 Engineering) of Tucson, Arizona, a recognized leader in the lithium claystone space, as the lead engineering firm to produce a Preliminary Economic Assessment (PEA) and accompanying NI 43-101 technical report on its Nevada North Lithium Project (NNLP).

The results of the NNLP PEA are scheduled to be announced by the end of Q4 in 2024 and are expected to be based on an updated lithium resource estimate following the 2024 spring drill program. Dr. Bruce Davis has prepared an initial inferred resource estimate of 4.67 Mt LCE at an average grade of 2,839 ppm Li at a 1,250 ppm Li cutoff, ( See news release of April 30, 2024).

Supporting M3 Engineering on the NNLP PEA will be Independent Mining Consultants Inc. (IMC) of Tucson, Arizona for the mining engineering section. The mine design by IMC is anticipated to be based on open pit truck/shovel methods that will minimize the stripping ratio while maximizing grades being mined from the pit.

Metallurgical modelling will be built on the flowsheet being developed at Kemetco that uses a well-established process to obtain optimal lithium extraction and production of high purity lithium carbonate. Initial testing demonstrated that the flowsheet produced lithium carbonate purity exceeding 99% without any refinement ( See news release of April 9, 2024). Further test work is under way to optimize the process trials to date and to advance to the additional purification steps that we anticipate will yield 99.9% purity, designed to meet battery-quality specifications.

To guide Surge in the process, the Company has engaged Graham Ballachey, a professional engineer with significant Nevada lithium claystone experience, to serve as Project Owner's Engineer for the NNLP PEA.

Mr. Greg Reimer, Chief Executive Officer, and Director commented, "M3 Engineering is a world-class engineering firm with exactly the type of lithium claystone experience that Surge was looking for in a lead firm. The combination of M3 Engineering with IMC and Kemetco is a team that we believe will deliver a PEA that will not only estimate the potential economics of the NNLP but will bring with it the real-world understanding and confidence these firms and professionals provide. We look forward to commencing the work required to achieve this very important milestone and to announcing the results by the end of the year."

Qualified Person as Defined Under National Instrument 43-101

Alan J. Morris, MSc, CPG of Spring Creek, Nevada, a Qualified Person as defined under National Instrument 43-101, has reviewed and approved the technical aspects of this news release.

About Surge Battery Metals Inc.

Surge Battery Metals, a Canadian-based mineral exploration company, is at the forefront of securing the supply of domestic lithium through its active engagement in the Nevada North Lithium Project. The project focuses on exploring clean, high-grade lithium energy metals in Nevada, USA. Lithium is a crucial element for powering the electric vehicles of tomorrow. With a primary listing on the TSX Venture Exchange in Canada and the OTCQX Market in the US, Surge Battery Metals Inc. is strategically positioned as a key player in advancing lithium exploration, contributing significantly to the sustainable future of the electric vehicle industry.

About the Nevada North Lithium Project

The Company's Nevada North Lithium Project, located in the Granite Range southeast of Jackpot, Nevada 73 km north-northeast of Wells, Elko County, Nevada. The first two rounds of drilling, completed in 2022 and 2023, identified a strongly mineralized zone of lithium bearing clays occupying a strike length of more than 3,500 meters and a known width of up to 950 meters. Highly anomalous soil values and geophysical surveys suggest there is potential for the clay horizons to be much greater in extent. The Nevada North Lithium Project has a pit-constrained Inferred Resource containing an estimated 4.67Mt of Lithium Carbonate Equivalent (LCE) grading 2,839 ppm Li at a 1,250 ppm cutoff.

On behalf of the Board of Directors

"Greg Reimer"

Greg Reimer,
President & CEO

Contact Information

Email: info@surgebatterymetals.com
Phone: 604-662-8184
Website: surgebatterymetals.com

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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 release.

This document may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan" or "planned", "possible", "potential", "forecast", "intend", "may", "schedule" and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities including lithium and nickel, the accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals including approvals of title and mining rights or licenses and environmental, local community or indigenous community approvals, the reliability of third party information, continued access to mineral properties or infrastructure or water, changes in laws, rules and regulations including in the United States, Nevada or California or any other jurisdiction which may impact upon the Company or its properties or the commercial exploitation of those properties, currency risks including the exchange rate of USD$ for Cdn$ or other currencies, fluctuations in the market for lithium related products, changes in exploration costs and government royalties, export policies or taxes in the United States or any other jurisdiction and other factors or information. The Company's current plans, expectations, and intentions with respect to development of its business and of its Nevada properties may be impacted by economic uncertainties arising out of any pandemic or by the impact of current financial and other market conditions (including US government subsidies or incentives) on its ability to secure further financing or funding of its Nevada properties. Such statements represent the Company's current views with respect to future events and are necessarily based upon several assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political, environmental (including endangered species, habitat preservation and water related risks) and social risks, contingencies, and uncertainties. Many factors, both known and unknown, could cause results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules, and regulations.

SOURCE: Surge Battery Metals Inc.

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