Concludes and Files 2022 Audited Annual
Filings
- Sigma Lithium files its annual filings for the year ended
December 31, 2022,
including:
-
- Audited consolidated financial statements and the related
management discussion and analysis.
- Annual Information Form and annual report on Form
40-F.
- Sigma Lithium ended the fourth-quarter 2022 with C$96.4
million in cash and cash equivalents as of December 31, 2022. The current cash position as
of June 9, 2023, is C$67.1 million.
Filed an Amended and Restated Technical Report
- Amended and restated the report titled "Grota do Cirilo
Lithium Project Araçuaí and Itinga Regions, Minas Gerais,
Brazil, Updated Technical Report"
dated January 16, 2023.
- The information contained in this report, including resource
and reserve estimates and financial analysis and projections, is
the same as the updated report currently on file dated January 16, 2023.
- The report reflects amendments pertaining to the
2022 Murial latest drilling program and the "filed status" of
the Barreiro environmental permitting process.
Production Advancement Highlights and 2023 Production
Guidance
Sigma Lithium made significant
strategic and operational progress, enabling it to
successfully transition from developer to producer by
achieving key milestones safely, sustainably and on
schedule:
- In April 2023, the Company
started the production of its high purity 5.5% battery grade
sustainable lithium ("Green Lithium").
-
- Sigma Lithium is rapidly scaling production, with future
shipments of Green Lithium to supply a globally diversified
customer base.
- Issued production guidance for 2023: Expects to produce
approximately 130,000 tonnes of Green Lithium in calendar year 2023
as the Company ramps up to full-scale Phase 1 production.
- Delivered on "Zero Tailings" strategy: As a result of the
successful implementation of the environmental dry stacking circuit
it developed, the Company has successfully sold its high-purity,
zero chemicals, approximately 1.3% lithium oxide
("Li2O"), hypofine tailings ("Green By-Products" or "Green
Tailings"), becoming the first lithium operation in the world to
not require tailings dams.
-
- Achieved a major milestone for the battery materials
industry, demonstrating that lithium battery materials can be
produced in harmony with the environment and without hazardous
tailings dams.
- Preliminary feasibility study in January 2023 confirmed the positive economic
results of its December 2022
production expansion study tripling project NPV to US$15.3 billion and production capacity to
766,000 tonnes per annum.
Reinforces Commitment to Socially and Environmentally
Sustainable Green Lithium
As it transitioned to a
producer, Sigma Lithium has been scaling up its existing
sustainability and social initiatives to lift and support its
communities:
- Fostered the Lithium Valley Brazil, anchoring the most
environmentally and socially sustainable lithium producer region of
the world and ringing the opening bell at the Nasdaq Stock Market
on May 10th alongside
Governor of the State of Minas Gerais, Romeu Zema Neto, and Deputy Minister of Mines
and Energy, Vitor Saback.
- Received unanimous vote of approval for its operating
environmental license, including from all the voting NGOs.
- Delivering on United Nations Sustainable Development Goals
("UN SDGs") including:
-
- UN SDG #5, gender equality, and UN SDG #10, reduced
inequalities:
-
- Increased microcredit program to 10,000 credit lines
for female entrepreneurs.
- Announced a partnership with the State Attorney General of
Minas Gerais to jointly combat domestic violence in the
region
- UN SDG #6, clean water and sanitation, and UN SDG #13
climate action:
-
- Expanded the climate mitigation program for smallholder
farmers and family agriculture by completing 800 water capture
basins to protect farmers against the prolonged effects of drought
and committing to build a total of 2,000.
- Donated and maintained 3,000 water tanks to rural residents
in the Itinga and Araçuaí regions without access to piped
water.
Upcoming Milestones
- On track to achieve full Phase 1 run-rate production
capacity of 270,000 tonnes per annum in Q3 2023 and expects to
reach Phase 2 & 3 full production capacity in 2024, assuming
the detailed engineering workstream and FEL3 CAPEX assessment
currently being conducted by DRA Global Limited ("DRA") supports an
investment decision, which would position Sigma Lithium to be one
of the world's largest lithium producers.
-
- Revenue from Phase 1 expected in Q2 2023.
- Continuing to explore exploration targets with the goal of
further increasing the project's estimated mineral
resources.
- Initiate earthworks for Phase 2 & 3 expansion of
the Greentech Production Plant (the "Greentech Plant") in Q3
2023, which is expected to triple production capacity to 766,000
tonnes per annum of Green Lithium).
- Continuing commitment to social initiatives in Brazil and ongoing leadership in environmental
and social sustainability.
- Sigma Lithium will be featured again at COP 28 in Dubai as a case study in achieving Net
Zero in the critical minerals supply chain.
INVESTOR VIDEO CONFERENCE
CALL
June 15, 2023, at
11:00 AM (ET)
Registration Link for Zoom video call below:
https://us06web.zoom.us/j/84470454556
Zoom Meeting ID: 844 7045 4556
VANCOUVER, BC, June 12,
2023 /CNW/ -- SIGMA Lithium Corporation
("Sigma Lithium" or the "Company") (NASDAQ: SGML,
TSXV: SGML), dedicated to powering the next generation of
electric vehicles with environmentally sustainable and high-purity
lithium, announces the filing of its audited consolidated
financial statements for the year ended December 31, 2022, the related management
discussion and analysis ("MD&A"), and its annual information
form and annual report on Form 40-F for the year ended December 31, 2022 (collectively, the "Annual
Filings"). Sigma Lithium continues to work diligently and
expeditiously to complete the work necessary to finalize its
unaudited consolidated financial statements for the quarter ended
March 31, 2023, and the related
MD&A.
The Annual Filings are available on SEDAR (www.sedar.ca), EDGAR
(www.sec.gov) and the Company's corporate website.
PRODUCTION UPDATE
In April
2023, the Company started the production of its
environmentally sustainable battery-grade lithium concentrate
("Green Lithium"). Moreover, the Company has delivered on its "Zero
Tailings" strategy by developing and implementing its environmental
dry stacking circuit. Sigma Lithium has successfully sold its dry
stacked tailings, becoming the first lithium operation in the world
to not require tailings dams.
The Company recently received the first payment on its first
shipment under a three-year environmental offtake agreement to sell
100% of its high-purity, zero chemicals, approximately 1.3% Li2O,
hypofine by-products ("Green By-Products" or "Green Tailings"),
together with one spot shipment of 15,000 tonnes of high purity
5.5% battery grade sustainable lithium, both produced by the
Greentech Plant.
"This is an exciting time for Sigma Lithium as we ramp up
production to full capacity and prepare our very first shipment of
Green Lithium to be delivered this month, becoming the first new
producer to successfully enter the battery grade lithium market in
five years," said Ana
Cabral-Gardner, Sigma Lithium CEO and Co-Chairperson. "Sigma
Lithium is leading the charge in establishing a sustainable global
value chain for electric vehicles to meet the accelerating global
demand for Green Lithium. Our unique operating model enables
cost-efficient production of high-grade, high-purity lithium
and proves that lithium extraction can be done in a way that is
both environmentally and socially responsible and
sustainable."
"We have a significant growth opportunity well beyond
Phase 1 production, and we plan to complete the detailed
engineering for the construction of the expansion of the production
capacity of the Greentech Plant (Phase 2 & 3) in the third
quarter of 2023," she added.
Phase 2 & 3 of the project are expected to increase
production to 766,000 tonnes annually (or 104,200 LCE annually),
assuming the detailed engineering workstream and FEL3 CAPEX
assessment currently being conducted by DRA supports an investment
decision.
2023 PRODUCTION GUIDANCE
Upon successfully
transitioning from development to production phase, Sigma Lithium
has issued initial production guidance for the calendar year 2023
of approximately 130,000 tonnes of Green Lithium.
FILED AN AMENDED AND RESTATED TECHNICAL
REPORT
Sigma Lithium requested SGS Geological Services
("SGS") to prepare an amended and restated NI 43-101 Technical
Report ("the Report") on Sigma Lithium's Grota do Cirilo project
located in Minas Gerais State, Brazil ("the Project").
This report amended and restated the report titled "Grota do
Cirilo Lithium Project Araçuaí and Itinga Regions, Minas Gerais,
Brazil, Updated Technical Report"
dated January 16, 2023. The report
reflects amendments pertaining to the Murial latest drilling
program and the "filed status" of the Barreiro environmental
permitting process.
Except as otherwise indicated, the effective date of this report
is the same as the Updated Technical Report, except for the
amendments described above. The information in this report,
including resource and reserve estimates and financial analysis and
projections, are the same as the updated report.
The Restated Technical Report 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 Noel
O'Brien, B.E., MBA, F AusIMM.
ESG UPDATE
Sigma Lithium's mission statement and key
focus have been guided by making business decisions in a manner
consistent with furthering the United Nations Sustainable
Development Goals ("UN SDGs") and adhering to the highest level of
ESG practices.
Specifically, Sigma Lithium is focused on the following three
pillars: (i) sustainable development; (ii) minimizing the
environmental impact of our operations; and (iii) improving the
lives of those in and around the region where we operate. Further,
the Company remains focused on global leadership to increase
awareness of our "green battery metals" approach.
Sigma Lithium is proud to report the progress made during the
fourth quarter of 2022 to advance its social and environmental
programs, which have been developed to ensure the sustainable
construction of the Project and development of the Jequitinhonha
Valley region, including social advancement of its population,
where we operate. In addition, we scaled up our social commitments
as we transitioned from developer to producer, with the following
updates in 2023:
- Increased microcredit program to 10,000 credit lines for female
entrepreneurs.
- Signed donation agreement to become the second-largest anchor
donor to the Columbia University
Climate Hub in Brazil.
- Announced a partnership with the State Attorney General of
Minas Gerais to jointly combat domestic violence in the
region.
- Increased the climate mitigation program for smallholder
farmers and family agriculture by committing to build 2,000 water
capture basins to protect farmers against the prolonged effects of
drought during the nine-month dry season.
- Committed to donating and maintaining 3,000 water tanks to
rural residents of the regions of Itinga and Araçuaí that do not
have access to piped water.
For more information on our ESG commitments, progress and
updates, check the Company's website and MD&A filing.
QUALIFIED PERSONS
The technical and scientific
information related to geology and mineral resource estimates in
this news release has been reviewed and approved by
Marc-Antoine Laporte P.Geo., M.Sc.,
of SGS. Mr. Laporte is a Qualified Person as defined by
National Instrument 43-101 and is independent of Sigma Lithium.
ABOUT SIGMA LITHIUM
Sigma Lithium (NASDAQ: SGML, TSXV:
SGML) is a company dedicated to powering the next generation of
electric vehicle batteries with environmentally sustainable and
high-purity lithium.
Sigma Lithium has been at the forefront of environmental and
social sustainability in the EV battery materials supply chain for
six years and it is currently producing Green Lithium from its
Grota do Cirilo Project in Brazil.
Phase 1 of the project is expected to produce 270,000 tonnes of
Green Lithium annually (36,700 LCE annually). Phase 2 & 3 of
the project are expected to increase production to 766,000 tonnes
annually (or 104,200 LCE annually), assuming the detailed
engineering workstream and FEL3 CAPEX assessment currently
being conducted by DRA supports an investment decision. The
project produces Green Lithium in a state-of-the-art Greentech
lithium plant that uses 100% renewable energy, 100% recycled water
and 100% dry-stacked tailings. Please refer to the Amended and
Restated Technical Report, which is filed on SEDAR and is also
available on the Company's website.
For more information about Sigma Lithium, visit
https://www.sigmalithiumresources.com/
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
production guidance for 2023; future shipments of Green Lithium;
Phase 1, 2, and 3 production capacities and the timing thereof;
revenue and free cash flow and the timing thereof; potential Phase
2 and 3 expansion; future exploration to potentially increase
mineral resource estimates; future ESG commitments and plans; and
timing and costs related to the general business and operational
outlook of the Company, 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.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/sigma-lithium-files-fy2022-audited-financial-statements-continuous-disclosure-report-and-ni-43-101-technical-report-301848722.html
SOURCE Sigma Lithium