The following is a summary of the Aqua Metals, Inc. (AQMS) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Aqua Metals ended the year with a total cash holding of approximately $16.5 million.

• The pilot plant's operational cost for the year was around $6.3 million.

• The company recorded modest service fee revenues from the completion of the Non-Recurring Engineering Agreement with 6K Energy.

• The year saw a net loss of approximately $23.9 million, with a non-GAAP net loss of $19.1 million.

• Cash used in operating activities throughout the year amounted to $3.2 million.

Business Progress:

• The company's pilot plant has operated continuously, yielding over a year's worth of operational data and productive output.

• The development of the Sierra ARC is progressing as planned and is within budget.

• Anticipations are set for the Sierra ARC's Phase 1 to annually generate about $30 million at current metal prices, having secured a black mass input feedstock supply.

• A significant off-take agreement with 6K Energy was finalized, laying the path for the 2024 delivery of sustainably recycled critical minerals.

• Diversified growth funding through a phased approach has been actively implemented to tackle risks.

• Partnership expansion and strategic investment continue to be a priority, bolstered by the company's relations with Dragonfly Energy and others, including 6K Energy.

• Plans for accelerating lead recycling and phased growth strategies have spurred funding considerations, including the submission of a USDA loan application.

• A partnership with 6K is aimed at sustainable circular supply chains, with recycled lithium carbonate expected in 2024.

• The Sierra-ARC project is on schedule and within the budget parameters, with expectations of introducing black mass quantities by late 2024.

• Negotiations with Yulho Materials, a South Korean firm, are in progress, and more commercial partnerships are being scoped.

More details: Aqua Metals IR

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