The following is a summary of the Standard Lithium Ltd. (SLI) Q3 2024 Earnings Call Transcript:
Financial Performance:
Standard Lithium Ltd. reported a net loss of $10.4 million for Q3 and $30.3 million for the nine months ended in 2024, primarily due to expenses related to progress in the demonstration plant.
The company maintains a strong balance sheet with absence of debt obligations and received a US$30 million liquidity boost from Equinor, eliminating $60 million in near-term capital needs.
Business Progress:
Standard Lithium formed a strategic partnership with Equinor, encouraging progress on Southwest Arkansas and East Texas projects.
The partnership with Equinor has spurred the development of projects at Lanxess and Southwest Arkansas and facilitated the expansion of a considerably large land in East Texas.
Successfully installed a commercial-scale Direct Lithium Extraction column at Southwest Arkansas demonstration plant, achieving over 97% average lithium recovery rate and over 99% impurity rejection.
The company is planning to generate resource reports for key project zones focusing on high-grade lithium brine assets which are expected to offer enormous potential for both Standard Lithium and Equinor.
Acceleration of the FEED process at the Southwest Arkansas project is happening with a comprehensive understanding of Direct Lithium Extraction (DLE). Discovering higher lithium concentrations in the brines has significantly decreased the lithium extraction costs.
The new partnership with Equinor is expected to create opportunities for off-take agreements in Europe and the EU. Investment activities in East Texas assets are being intensified due to recent investments.
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