SGML NewsThey released some news which is very positive. Expect a nice pop in the stock and hoping will boost the entire sector..PMET included.
HIGHLIGHTS OF PLANNED PRODUCTION EXPANSION
- Sigma Lithium announces positive economic results of its study to potentially triple integrated production (the "Production Expansion Study") of Battery Grade Sustainable Lithium Concentrate from 270,000 tpa (36,700 tpa LCE) commencing in 2023 to 768,000 tpa (104,200 tpa LCE) in the second year at the Company's 100% owned Grota do Cirilo Project (the "Project").
- The Project expansion may potentially position Sigma Lithium as one of the world's largest fully integrated lithium producers (from mine to lithium materials).
- The Production Expansion Study demonstrated robust Project economics, highlighted by an after-tax NPV8% of US$ 15.3 billion, incorporating production from Phase 1 (nearing commissioning initiation) combined with Phase 2 and Phase 3.
- Total Capex for the Project expansion is estimated at US$ 155 million and could be fully funded as follows:
- A portion of the US$ 100 million Debt Financing
- After-tax free cash flow once production is initiated in early 2023.
- The Construction of the Project expansion could potentially be initiated with earthworks and ordering of long lead items in the first quarter of 2023, once a final decision is made by the Company.