The following is a summary of the Standard Lithium Ltd. (SLI) Q2 2024 Earnings Call Transcript:
Financial Performance:
Standard Lithium Ltd. reported a net loss of $10.2 million, or $0.06 per share for Q2, and $19.9 million, or $0.12 per share for the first six months of the fiscal year.
The losses were attributed primarily to operating expenses at the demonstration plant and costs of necessary personnel.
The company had a negative free cash flow of approximately $23.6 million due to significant investments in East Texas drilling program, leasing efforts, and a definitive feasibility study.
Despite the losses, the company holds a strong asset base with no debt and expects capital expenditure to slow in the upcoming quarters.
The company is advancing strategic financing processes to enhance shareholder value.
Business Progress:
Standard Lithium produced key technical reports for its projects and operated an improved large demonstration plant in Southern Arkansas demonstrating the commercial viability of their technology.
Significant resources have been invested into East Texas and showed promising results.
The company hired new CFO and Chief Development Officer strengthening their leadership team.
Standard Lithium announced a partnership with Citi with an aim to facilitate strategic financing.
The company negotiated with Lanxess for a series of commercial agreements for their Phase 1A project and secured lithium brine production rights at their South West Arkansas project.
Their Direct Lithium Extraction (DLE) technology, high assets and strong partnerships are expected to place them as a significant lithium producer in the US.
More details: Standard Lithium IR
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