Sigma Lithium Files FY21 Results; Provides Update On Brazil Project

  • Sigma Lithium Corp SGML SGML ended FY21 with C$155.4 million in cash and cash equivalents as of December 31, 2021.
  • Sigma had sufficient liquidity to advance the Grota do Cirilo Project into production and made significant strides in advancing it.
  • The construction team is currently focused on constructing the Phase 1 Mine's protective drainage and constructing the bypass of the municipal road around the Grota do Cirilo Project.
  • SGML fully financed the capital expenditures estimated for the construction of the Phase 1 Plant and Phase 1 Mine by completing two equity financings, raising gross proceeds of C$178.7 million.
  • During FY21, the company concluded the construction of 100% of the foundation earthworks for the Phase 1 Production Plant. Initiation of civil works is commencing this month.
  • SGML says it is on track to deliver near-term production of Battery-Grade Sustainable Lithium, with plans to increase scale significantly.
  • Price Action: SGML shares are trading higher by 3.93% at $16.14 on Monday's last check.

 

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