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Critical Elements Lithium Corp V.CRE

Alternate Symbol(s):  CRECF

Critical Elements Lithium Corp is a Canada-based mining exploration company. The Company is engaged in the acquisition, exploration, development and processing of critical minerals mining properties in Canada. Its projects include Rose Lithium-Tantalum, Rose North, Rose South, Arques, Bourier, Dumulon, Duval, Nisk, Lemare, Caumont, and Valiquette. The Rose Lithium-Tantalum property consists of over 473 claims covering a total area of over 246.55 square kilometers (km2). It lies in the northeastern part of Superior Province, within the Eastmain greenstone belt. The Rose North property consists of about 31 claims covering a total area of over 16.14 km2. The Arques Property is composed of one block totaling around 136 claims covering an area of 6,840.93 hectares (ha) over 18 kilometers (kms) in length in a Southwest-Northeast direction. The Bourier Property is comprised of over 304 claims with an area of 15,616.47 ha for over 30 kms. The Rose South property consists of over 280 claims.


TSXV:CRE - Post by User

Post by Goodtoreadthis1on Apr 20, 2023 7:47pm
173 Views
Post# 35406364

Allkem reports LI pricing for qtr.

Allkem reports LI pricing for qtr.

Lithium producer Allkem reports revenue of $315M in March quarter as production up

Kitco News

 

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(Kitco News) - Lithium producer Allkem (TSX: AKE) announced today that the Olaroz lithium facility achieved production of 4,102 tonnes of lithium carbonate in March quarter 2023, up 38% on the previous corresponding period and a new record for a March quarter.

In a press release, the company said that lithium carbonate sales were 2,904 tonnes, generating record Olaroz quarterly revenue of ~US$159 million with a record gross cash margin of 91% or US$47,814/tonne.

"Excluding shipments to Naraha, third party lithium carbonate sales for the quarter averaged US$53,175/tonne FOB, meeting guidance and up slightly from the December quarter," Allkem said. "The weighted average price for third party sales of lithium carbonate products in June quarter 2023 is expected to be approximately US$42,000/tonne subject to final sales allocation."

The company also reported that Mt Cattlin produced 38,915 dmt of spodumene concentrate at 5.3% Li2O grade during the quarter, a ~2.3x increase quarter on quarter.

Spodumene sales of 21,553 dmt generated revenue of ~US$123 million with a gross cash margin of 81% based on an average sales price of US$5,702 /dmt CIF for SC 5.2%, which corresponds to approximately US$6,500 /dmt on a SC6 CIF basis, up 8% QoQ and above prior guidance.

"Pricing in the June quarter is expected to be approximately US$5,000/dmt CIF SC6," the company said.

Allkem pointed out that an additional US$33 million of revenue was generated from sales of 54,064 dmt of low grade spodumene concentrate.

The company noted that group revenue for the quarter was US$315 million and group gross operating cash margin was approximately US$269 million (85%), adding that at 31 March, group net cash was US$577.9 million, up US$25.9 million from 31 December 2022.

Allkem is a speciality lithium chemicals company with lithium brine operations in Argentina, a hard-rock lithium operation in Australia and a lithium hydroxide conversion facility in Japan. The company also develops the James Bay spodumene project in Quebec, Canada.


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