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Sigma Lithium Resources Corp
Symbol SGMA
Shares Issued 81,638,912
Close 2021-05-03 C$ 5.24
Recent Sedar Documents

Sigma Li talks production, omits P&L from result NR

2021-05-04 14:04 ET - News Release

Ms. Ana Cabral-Gardner reports

SIGMA LITHIUM REPORTS 2020 ANNUAL RESULTS OF TRANSFORMATIVE YEAR AND ANNOUNCES PLANS TO SEEK LISTING ON A MAJOR UNITED STATES STOCK EXCHANGE

Sigma Lithium Resources Corp. has filed its audited consolidated financial and operating results and management's discussion and analysis (MD&A) for the year ended Dec. 31, 2020. The MD&A includes a comprehensive technical and corporate update to April 30, 2020. The financial statements and MD&A are available at on SEDAR and at the company corporate website.

Investor video conference call

May 7, 2021, at 10 a.m. ET Zoom video call

Zoom meeting number:  932 125 83963

Join by phone using the following dial-in:  North America: 1-646-558-8656, United Kingdom: 44-203-481-5237, Brazil: 55-11-4680-6788

Highlights

  • Completed all critical field-based preconstruction activities within scheduled and budgeted parameters, with enhanced COVID-19 protocols in place.
  • Phase 1 production of 220,000 tonnes per annum (33,000 t of LCE (lithium carbonate equivalent) of green battery-grade lithium expected summer of 2022.
  • June, 2021, planned release of prefeasibility study of viability for phase 2 production at 440,000 t (65,000 t LCE) per annum.
  • Pilot DMS plant prefeasibility testing achieves high recovery of 60.7 per cent of Li2O for phase 2 production, similar to phase 1.
  • Resumed drilling and related geological activities seeking to significantly increase its mineral resource estimate.
  • Strong focus on the "S" of ESG (environmental, social and governance), supporting vulnerable population during COVID-19 pandemic and beyond:
    • Initiated supply of approximately 400,000 meals to 2,400 people in 10 months, 12,000 litres of hospital disinfectant and 840 kilograms of hand sanitizer.
    • Launched an independent agency to foster private investment in economic diversification of Vale do Jequitinhonha, with support of Minas Gerais State development agency, INDI.
  • Several senior professionals joined implementation team, including project manager officer.
    • Chief executive officer relocated to site permanently in the third quarter of 2020. Average of 86 people working on site in 2021.
  • The company plans to achieve net-zero carbon emission targets by 2023, partly as a result of its ESG program and strategic decision to pursue generation of internal carbon credits through in-setting (within its regional ecosystem).
  • The company has sufficient liquidity, with $46.3-million in cash, as a result of its 2020 and 2021 equity financings, an amount sufficient to cover the entire equity component of the necessary project financing for construction and to finance all continuing workstreams.

During this transformative 2020 year, the company continued to demonstrate its development, commercial and market relevance by significantly advancing its strategic goals on three fronts: near-term production scheduled for 2022, studying the viability of production expansion contemplated for 2023, and the determination of the ultimate extent and unique high-purity quality of mineral resources at the company's wholly owned Grota do Cirilo project, all while maintaining its strategic leadership in ESG in the lithium supply chain.

The company announces that it is considering a potential listing of its shares in the United States with a view to increasing access to U.S. capital and enhancing overall shareholder value. This follows the United States Department of State and Brazil Ministry of Mines and Energy launching the U.S.-Brazil bilateral co-operation in critical minerals, including lithium. This adds to the company's current relationships in Japan, South Korea and specialist chemical tolling partners in China.

About Sigma Lithium Resources Corp.

Sigma is a Canadian company developing, with an environmental sustainably ESG focused strategy, the largest hard rock lithium deposits in the Americas, located in its wholly owned Grota do Cirilo project in Brazil. The company has been producing low-carbon, high-purity lithium concentrate at an on-site demonstration pilot plant since 2018. This pilot production has been an important part of the successful commercial strategy of the company, shipping samples of its low carbon "green and sustainable" high-purity lithium to leading global potential customers, for product certification and testing, with the goal of participating in the rapidly expanding electric vehicle (EV) supply chain.

The company is in preconstruction and detailed engineering of an environmentally friendly, fully automated, dense media separator (DMS) production plant, that will apply proprietary algorithms to digitally control the dense media. The production plant will be vertically integrated into the company's mining operations, exclusively utilizing as feedstock the high-purity spodumene ore with exceptional mineralogy from the project. The production plant will process the spodumene ore into a high-purity 6 per cent battery-grade lithium concentrate engineered to the specifications of its customers in the lithium-ion battery supply chain for EVs.

In order to secure a leading position supplying the clean mobility and green energy storage value chains, the company has adhered consistently to the highest standards of ESG practices, which were established as part of its core purpose at inception in 2012. The production process will be powered by clean energy and the company will use state-of-the art water recirculation circuits in its processing combined with dry stacking tailings management. The DMS process of the production plant does not utilize hazardous chemicals, as a result its tailings are 100-per-cent recyclable into ancillary industries, such as ceramics.

The company is currently undergoing an independent assessment of its net carbon footprint, conducting an independent ISO-14000-compliant audit of its life cycle analysis together with an independent expert validation of its carbon credits generated by its internal preservation, reforestation and compensation forestry programs.

We seek Safe Harbor.

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