Standard Lithium(SLI)2024-09-24 21:07Funding and Partnerships - Standard Lithium secured a conditional 160 million[5] Lithium Extraction and Resources - The direct lithium extraction process achieved an average lithium recovery of 97.3%, with key contaminant rejection exceeding 99% and boron rejection greater than 95%[5] - The South West Arkansas Project reported an Upper Smackover Indicated resource of 1.4 million tonnes and a Middle Smackover Inferred resource of 0.4 million tonnes lithium carbonate equivalent, with an average lithium concentration of 437 mg/L[6] - In East Texas, confirmed lithium concentrations reached up to 806 mg/L, with an average concentration of 644 mg/L in the drilled area, representing the highest-ever reported lithium brine concentrations in North America[6] Production Plans - The Preliminary Feasibility Study for the South West Arkansas Project targets an average annual production of 45,000 tonnes of lithium carbonate, developed in two phases of 22,500 tonnes each, beginning in 2027[6] - The Definitive Feasibility Study for the Phase 1A project at LANXESS South Plant assumes an average annual production of 5,400 tonnes of lithium carbonate over a 25-year operating life starting in 2026[6] Financial Position - Cash and working capital as of June 30, 2024, were C39.6 million, respectively, with no term or revolving debt obligations[5] - The company raised net proceeds of C13.3 million from the issuance of shares during the fiscal year, with no issuances completed under the ATM Program since April 10, 2024[6] Management Changes - The company appointed David Park as CEO, who has extensive experience in the energy sector, and strengthened its management team with key executive appointments[4][5]