Standard Lithium (TSX.V: SLI) (NYSE American: SLI) (FRA: S5L), a leading near-commercial lithium development company, today released its financial and operating results for the fourth quarter and full year ended June 30, 2024. Key highlights included the strategic partnership with Equinor ASA to advance the South West Arkansas (“SWA”) and East Texas projects; the de-risked commercialization of the direct lithium extraction (“DLE”) process; execution of drilling programs that yielded the highest-ever reported lithium brine values in North America; advancement and de-risking of the SWA Project; appointment of key executives to strengthen the senior management team; and delivery of the Definitive Feasibility Study (“DFS”) for the Phase 1A project at LANXESS South Plant.
Financial highlights included net proceeds of C$2.8 million and US$13.3 million from the issuance of shares on the TSX Venture Exchange and the NYSE American LLC, respectively. The company also reported cash of C$52.9 million and working capital of C$39.6 million as of June 30, 2024. According to the announcement, Standard Lithium had no term or revolving debt obligations as of June 30, 2024. Additional highlights after June 30, 2024, included the receipt of a conditional $225 million grant from the U.S. Department of Energy (“DOE”) for the SWA Project and the appointment of David Park as CEO and Director. The company will host a conference call and webcast on October 1, 2024, at 3:30 p.m. ET to discuss the results.
To view the full press release, visit https://ibn.fm/soVPr
About Standard Lithium Ltd.
Standard Lithium is a leading near-commercial lithium development company focused on the sustainable development of a portfolio of large, high-grade lithium-brine properties in the United States. The company prioritizes projects characterized by the highest quality resources, robust infrastructure, skilled labor, and streamlined permitting. Standard Lithium aims to achieve sustainable, commercial-scale lithium production via the application of a scalable and fully integrated Direct Lithium Extraction (“DLE”) and purification process. The company’s flagship projects are located in the Smackover Formation, a world-class lithium brine asset, focused in Arkansas and Texas. In partnership with global energy leader Equinor ASA, Standard Lithium is advancing the South West Arkansas project, a greenfield project located in southern Arkansas, and actively exploring promising lithium brine prospects in East Texas. Additionally, the company is advancing the Phase 1A project in partnership with LANXESS Corporation, a brownfield development project located in southern Arkansas. Standard Lithium also holds an interest in certain mineral leases in the Mojave Desert in San Bernardino County, California. Standard Lithium trades on both the TSX Venture Exchange and the NYSE American under the symbol SLI and on the Frankfurt Stock Exchange under the symbol S5L. For more information, please visit the company’s website at www.StandardLithium.com.
NOTE TO INVESTORS: The latest news and updates relating to SLI are available in the company’s newsroom at https://ibn.fm/SLI
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