- Sigma Lithium’s (SGML) construction remains on schedule for its Phase 1 production plant and mine at its Grota do Cirilo Project
- It ended the second quarter with $123.3 million in cash and cash equivalents, providing sufficient liquidity to advance the project
- The company expects to complete necessary construction and bring the mine and plant into production in December
- The Vancouver mineral resource explorer’s project is located in Brazil
- Sigma Lithium is down 6.62 percent, trading at $25.40 at 12:16 pm ET
Sigma Lithium’s (SGML) construction remains on schedule for its Phase 1 production plant and mine at its Grota do Cirilo Project.
The Vancouver mineral resource explorer’s project is located in Brazil.
The company expects to complete necessary construction and bring the mine and plant into production in December.
It ended the second quarter with $123.3 million in cash and cash equivalents, providing sufficient liquidity to advance the project.
The Grota do Cirilo Project is the largest lithium hard rock project in the Americas and one of the largest and highest purity lithium projects in the world.
Lithium there will be processed in a green-tech processing plant that uses 100 percent renewable energy, 100 percent recycled water and 100 percent dry-stack tailings.
The company has a goal of achieving net zero emissions by 2024.
“We are delighted to have further strengthened our operational team by adding industry-leading executives, rounding out a world-class management team at Sigma Lithium. Having achieved all of our execution milestones to date, delivering a transformational quarter demonstrates the ability of this team to drive us in our successful trajectory to become a global protagonist in lithium minerals for electric vehicle batteries,” said Co-CEO Ana Cabral-Gardner.
Sigma Lithium is down 6.62 percent, trading at $25.40 at 12:16 pm ET.