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Sigma Lithium Announces 2Q 24 Results: Reduced Cash Costs By 22%, Increased FOB Margins to 54% Achieving Guidance Ahead of Schedule
2Q OPERATIONAL HIGHLIGHTS (USD) Sigma Lithium achieved "all-around" operational efficiency in 2Q24, reaching metrics of larger seasoned producers: Further incre
About this update from Sigma Lithium Corporation
[{"type":"text","content":" 2Q OPERATIONAL HIGHLIGHTS (USD) Sigma Lithium achieved \"all-around\" operational efficiency in 2Q24, reaching metrics of larger seasoned producers: Further increased cadence of volumes sold of Quintuple Zero High Purity Lithium Concentrate (\"5.0 Green Lithium\") Achieved sales volumes of 52,572t in 2Q24 The Company expects total production of 5.0 Green Lithium in 3Q 24 of 60,000t Continues to increase sales price premium relative to peer lithium producers: Maintained average of 10% price premiumization year to date Established track record of delivering high quality lithium materials to leading supply chains, increasing commercial assertiveness and flexibility Diversified commercial relationships by selling and engaging with new South Korean industrial, trading and battery manufacturing companies Sigma's 11th shipment sold to a large Japanese large industrial conglomerate Implemented culture of excellence and high standards, driving overall productivity and top global indexes of employee safety & health: 1 Year: ZERO fatalities, ZERO acidentes 2nd place amongst world's largest metals and mining companies (ICMM ranking) 2Q FINANCIAL HIGHLIGHTS (USD) Revenues from volumes of lithium concentrate sold in 2Q totaled $54.4 million Reported revenue totaled $45.9 million Achieved cost guidance ahead of schedule: 22% reduction in unit cash costs year to date, amongst the lowest in the sector CIF equivalent (1) cash costs of $515/t / (2024 Guidance: $510/t) FOB cash costs of $424/t / (2024 Guidance: $420/t) Cash costs at industrial plant gate averaging $364/t / (2024 Guidance: $370/t) Robust adjusted cash EBITDA margins of 29%, up from 16% in 1Q 24 Consistent operational performance and reliability of monthly shipments results in robust access to liquidity via export-linked credit lines at attractive interest rates: Comfortable liquidity position with cash balances as of August 14 of $99 million Decreased cost of debt linked to export financing: From 15% per year in Jan. 24 to <6% per year (in USD) Conference Call Information The Company will conduct a conference call to discuss its financial results for the second quarter at 8:00 a.m. EST on Friday, August 16, 2024. Participating in the call will be Co-Chairperson and Chief Executive Officer, Ana Cabral and the Executive Vice President for Corporate Affairs and Strategic D...