TALISON LITHIUM REPORTS RECORD SALES AND PRODUCTIOTalison Lithium Ltd. has released its preliminary production and sales results for the three and nine months ended March 31, 2011, from its Greenbushes lithium operations in Western Australia. For the three months ended March 31, 2011, production increased 33 per cent, and sales increased 74 per cent over the three months ended March 31, 2010.
Greenbushes lithium operations production results
Record production was achieved from the Greenbushes Lithium Operations during the three months ended March 31, 2011 (the "Third Quarter")as a result of the completion of the Stage 1 expansion of the Greenbushes Lithium Operations in December 2010. Talison continues to produce at capacity and sell 100% of its production from the Greenbushes Lithium Operations.
Key Operating Statistics Per- Per- Three Months Three Months cent- Nine Months Nine Months cent- Ended March Ended March age Ended March Ended March age 31, 2011 31, 2010 Change 31, 2011 31, 2010 Change--------------------------------------------------------------------------Production(i) 88,315 66,180 33% 252,592 190,912 32%--------------------------------------------------------------------------Sales(i) 97,001 55,864 74% 247,085 168,559 47%--------------------------------------------------------------------------(i)Tonnes of lithium concentrate
Sales of lithium concentrate from the Greenbushes Lithium Operations in the Third Quarter increased 74% from the corresponding period in the prior year, with 97,001 tonnes of lithium concentrate (approximately 14,400 tonnes of lithium carbonate equivalent) sold. Sales for the nine months ended March 31, 2011 were 247,085 tonnes of lithium concentrate (approximately 36,600 tonnes of lithium carbonate equivalent), representing a 47% increase over the corresponding period in the prior year. The increase in sales resulted from strong demand from customers for lithium concentrate and the increased production capacity at the Greenbushes Lithium Operations following completion of the Stage 1 expansion in December 2010. Production during the Third Quarter increased 33% over the corresponding period in the prior year to 88,315 tonnes of lithium concentrate (approximately 13,100 tonnes of lithium carbonate equivalent). Production for the nine months ended March 31, 2011 was 252,592 tonnes of lithium concentrate (approximately 37,500 tonnes of lithium carbonate equivalent), representing a 32% increase over the corresponding period in the prior year.
Third Quarter 2011 Financial Results
Talison will release its financial results for the three and nine months ended March 31, 2011 prior to the opening of the market on Thursday, May 12, 2011.
Peter Oliver, Chief Executive Officer and Managing Director of Talison will host a conference call on Tuesday, May 17, 2011 at 9:00 a.m. EDT (6:00 a.m. PDT) to discuss the results.
Teleconference and replay call details will be distributed in conjunction with the financial results.