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Sigma Lithium Reaches Second Shipment Target of 15,000 Tonnes of Triple Zero Green Lithium at Port; Closes Export Revolver Credit Line with Santander for US$10M; Reports Second Quarter 2023 Results
OPERATIONAL UPDATE Sigma Lithium reaches second shipment targets on schedule: Completes trucking of 15,000 tonnes of Triple Zero Green Lithium and 30,000 tonnes
About this update from Sigma Lithium Corporation
[{"type":"text","content":" OPERATIONAL UPDATE Sigma Lithium reaches second shipment targets on schedule: Completes trucking of 15,000 tonnes of Triple Zero Green Lithium and 30,000 tonnes of Triple Zero Green By-Products (\"Green By-Products\") to Vitoria Port in Brazil. Reaffirms outlook for production of 130,000 tonnes of chemical grade Triple Zero Green Lithium by December 2023. Continues to accelerate towards annualized production capacity of 270,000 tonnes of Triple Zero Green Lithium (nameplate production capacity); on track to achieve by the end of Q3 2023. Delivered first shipment consisting of 15,000 tonnes of Triple Zero Green Lithium and 16,500 tonnes of Green By-Products on July 27, 2023, at a price of approximately US$3,500 per tonne and US$350 per tonne, respectively, achieving net zero carbon 27 years ahead of the 2050 target set by the global metals andmining industry. Upcoming shipments include: 15,000 tonnes of Triple Zero Green Lithium planned imminently. 30,000 tonnes of Triple Zero Green By-Products planned for mid-September. 18,000 tonnes of Triple Zero Green Lithium planned for end of September. Advancing plans to triple production capacity (\"Production Expansion\"); accelerating detailed engineering to quote capital expenditures at FEL3 level. Formal investment decision and kick-off of earthworks and ordering of long-lead items expected to occur by the end of September. The Company is engaged with Brazilian and global development financing institutions to fund the Production Expansion. Plans to publish an updated resource estimate, including the areas at Phase 4, in the coming weeks. A video highlighting the company's successful production ramp-up can be viewed at the following link: Production and Shipment Video on Vimeo FINANCIAL UPDATE Successfully closed the first Green ACE Credit Line (Export Prepayment) with Santander Brazil for R$50 million (US$10 million). Demonstrates the Company's operational and credit strength and ESG reputation in Brazil, where it is regarded as a \"new operational paradigm\" for the entire metals and mining industry. Filed quarterly financial statements and management discussion and analysis (\"MD&A\") for the three-month period ended June 30, 2023, ending the second quarter with C$45.6 million in cash and cash equivalents. Received US$31.8 million pre-payment in Q2 2023 for the first shipment o...