HIGHLIGHTS
- Sigma Lithium achieved strong operational performance at its Greentech industrial plant.
- Produced 60,237t of Quintuple Zero Lithium Concentrate in 3Q24, higher than the 60,000t guidance
- Further increased shipping cadence to quasi monthly volumes sold of 22,000t
- Sales volumes totaled 57,483t in 3Q24, increasing 9% q-on-q
- Successfully executed Plant 1 efficiency capex revamp implementation
- Expects 4Q24 production and sales volumes of at least 60,000t
- Maintained one of the lowest cash unit operating costs in the industry, with CIF China averaging US$ 513/t, down from US$ 515/t in 2Q24.
- Commercial strategy adapted to capitalize on seasonal restocking trends, weather seasonality more effectively, and outperform market price benchmarks
- Average CIF sales price for the third quarter of US$ 820/t
- Robust operating cash flow generation of US$ 34 million in the third quarter enabled the Company to maintain a healthy cash position of US$ 66 million at quarter-end while reducing debt by $40 million
- Signed final development loan agreement with the BNDES, fully financing its plant 2 expansion, further de-risking construction
- Term: 16 years with 18 months amortization grace period
- Sub-Treasury Interest Rate: BRL 7.53%, or USD 2.5% at prevailing swap rates
- Continued to advance Plant 2 construction with earthworks and engineering
Sigma Lithium Corporation (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 its results for the third quarter ended September 30, 2024.
Ana Cabral, Co-Chairperson and CEO said: “This quarter we achieved our production and low industry cost targets, generating robust free cash flow and demonstrating our operational resilience to lithium cycles. We also benefited from our shifted commercial strategy to navigate industry seasonality, enabling us to secure higher average realized prices compared to benchmarks.
“Over the last year we are proud to have transformed Sigma from an emerging producer into an industry leader, demonstrating the operational and financial resilience of a mature producer, with dependability and consistency. Meanwhile we have delivered on all of our climate goals, reaching Net Zero one year in advance of our target and 27 years ahead of the industry, with our Quintuple Zero Green Lithium. We are confident that over the lithium cycles, our capabilities to execute to strategy will deliver long-term value for Sigma and all of its stakeholders“, Ms. Cabral concluded.
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