Files Q1 23' Financial Statements and plans
to file Q2 23' by end of August
PRODUCTION
- Sigma Lithium achieved planned production targets at
its Greentech Industrial Plant in Brazil.
-
- On track to produce 130,000 tonnes of Chemical Grade Triple
Zero Green Lithium by December
2023.
- Expects to consistently reach an annualized production of
270,000 tonnes of Triple Zero Green Lithium by the end of Q3 2023
("designed nameplate capacity").
-
- Upcoming shipments:
-
- 15,000 tonnes of Triple Zero Green Lithium planned for end
of August.
- 30,000 tonnes of Green Byproducts (tailings) planned for
mid-September.
- 18,000 tonnes of Triple Zero Green Lithium planned for end
of September.
- Achieved record DAILY production of 846 tonnes of Chemical
Grade Triple Zero Green Lithium in August.
-
- 95% of production capacity reached in August
(month-to-date).
- Plant utilization has reached 85% ("designed utilization
capacity").
- Successfully calibrated the pioneering dry stack tailings
circuit in July, allowing rapid increase of production capacity of
the Greentech Plant.
- Innovative adjustment of filtration systems and membranes,
and plans for additional filtration equipment.
- Greentech Plant significantly progressed towards reaching
"designed recovery rates":
-
-
-
- Achieved nameplate 65% recovery rates of lithium
Li2O from spodumene ore during several consecutive days
in August.
- Greentech Industrial Plant is able to successfully produce
6.3% Li2O Chemical Grade Triple Zero Green Lithium
utilizing feedstock from mine.
SUSTAINABILITY
- Sigma Lithium continues to be a leader in social and
environmental responsibility, setting new paradigms of
sustainability in the battery materials industry:
-
- Initiated construction of two flagship social
initiatives:
-
- Full renovation of the rural community school in Poco
Dantas, implementing full time educational and after school
programs and increasing number of classrooms to mitigate
"multi-grade" learning.
- Construction of a new bridge over Piaui creek to ensure
shorter rural community access to urban centers through federal
highway.
- Outstanding success of the homecoming program relocating
professionals to the Vale do Jequitinhonha lithium valley
("Brazil Green Lithium Valley") who were "born and bred" in the
region:
-
- Reached the outstanding level of 85% of total employees from
Araçuaí and Itinga at Brazil Green Lithium Valley
- At Mine reached the outstanding level of 95% from the towns
of Aracuai and Itinga.
- Significantly advanced "Zero Drought", "Water for
All" and "Dona de Mim Microcredit" programs:
-
- 1,000 rainwater capture basins already constructed and
delivered (out of 2,000 planned), supporting over 12,000
subsistence farmers.
- 120 water storage tanks installed so far (out of 3,000 water
tanks planned) supporting over 15,000 people.
- 1,600 women enrolled in the entrepreneurship training
program, 950 awarded the microcredit loan. Program on track to
reach 10,000 women.
- Zero tailings continues to advance: paving rural communities
dirt roads with coarse gravel by-products.
MANAGEMENT
- Sigma Lithium significantly upgraded senior leadership
at CFO office, advancing its transformation into a producer
and operating company by strengthening its financial department and
internal controls:
-
- Caio Araujo has been named
Chief Financial Officer. He has 33 years of experience in finance
and controlling, having started his career at PwC.
-
- Mr. Araujo joined Sigma Lithium in June 2023 and has significant experience in
companies listed in the United
States with operations in Brazil. Previously he was CFO at a portfolio
company of BTG. During several years Mr. Araujo headed the finance
department at CSN, one of the first Brazilian metals and mining
companies to register an ADR level III in the NYSE, where he
implemented the SEC reporting/ SOX compliance.
- Raphael Dias has been named Chief Control
Officer. He has over 22 years of experience in finance and
internal controls.
-
- Mr. Dias joined Sigma in July
2023. Previously, he served as Controller, Vice
President of Cargill Agrícola S.A., and prior to that, as
Controlling Director of Nike do Brasil S.A. Mr. Dias
FILED QUARTERLY FINANCIAL STATEMENTS
- Sigma Lithium filed its quarterly filings for the
three-month period ended March 31,
2023, ending the first quarter with C$92.9 million in cash and cash
equivalents.
INVESTOR VIDEO CONFERENCE
CALL
August 14, 2023, at
10:00 AM (ET)
Registration Link for Zoom video call below:
https://us06web.zoom.us/j/81291379068?pwd=RXhLYlN0bFRnVUdSby9reW5XVlYrZz09
Zoom Meeting ID: 81291379068
VANCOUVER, BC, Aug. 11,
2023 /CNW/ -- SIGMA Lithium Corporation
("Sigma Lithium" or the "Company") (NASDAQ: SGML,
TSXV: SGML), a leading global lithium producer dedicated
to powering the next generation of electric vehicles with
environmentally sustainable and carbon neutral battery-grade
lithium, provides an operational and ESG update following the first
shipment of its Triple Zero Green Lithium in July.
The Company also announces the filing of its unaudited
consolidated financial statements and management discussion and
analysis ("MD&A") for the three-month period ended March 31, 2023 (collectively, the "Quarterly
Filings"). Sigma Lithium expects to file its unaudited consolidated
financial statements for the quarter ended June 30, 2023, and the related MD&A, by the
end of August 2023.
The Quarterly Filings are available on SEDAR (www.sedar.ca),
EDGAR (www.sec.gov) and the Company's corporate website.
Operational Update
Ramp-up of Phase 1 production continues to advance on schedule
and the Company remains on track to achieve 2023 production
guidance of 130,000 tonnes of Triple Zero Green Lithium with
consistent annualized production of 270,000 tonnes of Triple Zero
Green Lithium expected to be achieved by the end of Q3-2023.
Recent positive operational achievements include operating the
Greentech Plant at approximately 85% utilization rates, which is
commensurate with the designed ramp-up schedule. Additionally, the
Company successfully calibrated the dry stacking circuit belt
filter of the Greentech Plant in July
2023, which continues to provide positive results and
enabled the Company to achieve 95% of nameplate throughput capacity
in August month-to-date and to achieve several consecutive days of
design nameplate recovery rates of 65%. As a result of this
operational success, Sigma Lithium recently achieved record daily
production of 846 tonnes of Triple Zero Green Lithium, which met
expected specifications.
As the Greentech Plant continues to maintain a steady pace of
acceleration and is on pace to reach consistent nameplate
production in Q3 2023, Sigma Lithium expects to have its second
shipment of 15,000 tonnes of Triple Zero Green Lithium by the end
of August, 30,000 tonnes of Triple Zero Green Byproducts by
mid-September and 18,000 tonnes of Triple Zero Green Lithium by the
end of September.
In addition to the the successful ramp-up activities with the
current plant equipment, as a contingency plan the Company expects
to install a Metso LAROX filter in order to mitigate any
potential future bottlenecks.
ESG Update
Sigma Lithium is also proud to provide an update on its
significant ESG programs as it continues to be a trailblazer for
sustainable Triple Zero Green Lithium production in the Lithium
Valley Region of Brazil.
The Company is thrilled to announce the new "Being a Child"
program, where it has committed to help fund a number of
infrastructure improvements at the local Poco Dantes community,
including renovations to its school.
(serving approximately 30 children), the construction of a
bridge to improve connection to the larger Araçuaí and Itinga
towns and renovations to outdoors sports facilities.
Sigma Lithium also continues to execute on its "Homecoming
Employment Program," with 85% of total employees at the project
being comprised of local residents from the towns of Araçuaí and
Itinga.
Sigma Lithium also continued to deliver on its programs focused
on water access for local communities, including the "Zero Drought"
and "Water for All" programs, and is proud to report that it has
now constructed 1,000 rainwater capture basins (of the 2,000
target) and donated 120 water storage tanks (of the 3,000
target).
Sigma Lithium's landmark microcredit program continues to take
shape and build, with 1,600 women now enrolled and 950 having
completed the training. The program remains on track and the
Company continues to work towards reaching its goal of enrolling
10,000 women.
The Company is also maintaining its commitment to its "Zero
Tailings" program as it continues stockpile Triple Zero Green
By-Products to be shipped to Yahua International Investment and
Development Co., Ltd. and pave local roads with coarse gravel
tailings.
Financials Update
Sigma Lithium evolves financial reporting responsibilities
through its transition from developer to producer, Caio Araujo
has been named Chief Financial Officer and Raphael Dias has been named Chief Controls and
Human Resources Officer.
Mr. Araujo joined Sigma Lithium in June
2023 and has 33 years of experience in finance and
controlling, having started his career at PwC. He has
significant experience in companies listed in the United States with operations
in Brazil. Previously he was CFO at a portfolio company of
BTG. During several years Mr. Araujo headed the
finance department at CSN, one of the first Brazilian metals
and mining companies to register an ADR level III in the
NYSE, where he implemented the SEC reporting/ SOX
compliance.
Mr. Dias joined Sigma in July
2023. He has over 22 years of experience in finance and
internal controls. Previously, he served as Controller, Vice
President of Cargill Agrícola S.A., and prior to that, as
Controlling Director of Nike do Brasil S.A. Mr. Dias.
Additionally, Sigma Mineração S.A. ("SMSA"), an indirectly owned
subsidiary of the Company, has entered into a Credit Facility
Agreement with Tatooine Investimentos S.A. ("Tatooine"), for an
amount of up to US$12 million. The
purpose of the Agreement is to fund Tatooine to purchase certain
additional surface rights located in areas of interest for SMSA.
Tatooine will acquire such rights and shall grant the possession of
the area to SMSA, who in turn shall use the properties to continue
with the Grota do Cirilo Project. This agreement is qualified as a
related party transaction under the policies of the TSXV given that
Marina Bernardini, the Company's
Chief Marketing Officer, has an economic interest in Tatooine."
ABOUT SIGMA LITHIUM
Sigma Lithium (NASDAQ: SGML, TSXV: SGML, BVMF: S2GM34) is a
leading global lithium producer 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 Triple Zero Green Lithium
from its Grota do Cirilo Project in Brazil. Phase 1 of the project is expected to
produce 270,000 tonnes of Triple Zero Green Lithium annually
(36,700 LCE annually). If it is determined to proceed after
completion of an ongoing feasibility study, Phase 2 & 3 of the
project are expected to increase production to 766,000 tonnes
annually (or 104,200 LCE annually). The project produces Triple
Zero Green Lithium in its state-of-the-art Greentech lithium plant
that uses 100% renewable energy, 100% recycled water and 100%
dry-stacked tailings.
Please refer to the Company's National Instrument 43-101
technical report titled "Grota do Cirilo Lithium Project Araçuaí
and Itinga Regions, Minas Gerais, Brazil, Amended and Restated Technical Report"
issued June 12, 2023, which 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
(the "Updated Technical Report"). The Updated Technical Report 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
timing and costs related to the general business and operational
outlook of the Company, the environmental footprint of tailings and
positive ecosystem impact relating thereto, donation and upcycling
of tailings, timing and quantities relating to tailings and Green
Lithium, achievements and projections relating to the Zero Tailings
strategy, achievement of ramp-up volumes, production estimates and
the operational status of the Groto do Cirilo Project, 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.
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SOURCE Sigma Lithium