Standard Lithium Q4 and 2024 Financial Results

Standard Lithium Ltd. (TSXV:SLI, NYSE American:SLI) has announced its financial results for the fourth quarter and full fiscal year ending June 30, 2024. The company has made significant strides in advancing its lithium brine projects.

Equinor Partnership and DOE Grant

Standard Lithium secured a strategic partnership with Equinor, enhancing its South West Arkansas and East Texas projects. Equinor invested 45% equity into specific projects, strengthening Standard Lithium’s financial position. Moreover, the U.S. Department of Energy awarded a substantial $225 million conditional grant to support the South West Arkansas Project.

Advancements in Lithium Extraction

In El Dorado, Arkansas, the company has successfully implemented its Li-ProTM Lithium Selective Sorption commercial-scale unit, provided by Koch Technology Solutions. This advancement highlights the company’s leadership in direct lithium extraction technology.

SWA and East Texas Drilling Results

Drilling programs in South West Arkansas and East Texas yielded the highest lithium brine values ever reported in North America. Notably, East Texas recorded lithium concentrations up to 806 mg/L, underscoring the potential of these resources.

South West Arkansas Project Update

The company has progressed with the South West Arkansas Project. It secured land and brine production rights and received DOE support to further expand project capacity to 45,000 tpa of lithium carbonate. Ausenco Engineering Canada is leading the feasibility studies.

Leadership and Financial Strength

Key appointments include David Park as CEO, Michael Barman as Chief Development Officer, and Salah Gamoudi as CFO. The company maintains a strong cash and working capital position of CAD 52.9 million and CAD 39.6 million, respectively, as of June 30, 2024.

Upcoming Conference Call

Standard Lithium will host a conference call on October 1, 2024, at 3:30 p.m. ET to discuss these results and future plans.

Disclaimer:
The content presented on this page has not been manually verified by our team. While we strive to ensure accuracy, we cannot guarantee the validity, completeness, or timeliness of the information provided. Always consult with appropriate professionals or sources before making any decisions based on this content.

The image is randomly selected and doesn’t necessarily represent the company or the news below.

Click here for more Company News