HIGHLIGHTS
- The phased expansion scenario will potentially position
Sigma Lithium as the world's fourth largest lithium
producer.
-
- Run-rate combined production of 531,000 tpa (72,200 tpa LCE)
of Battery Grade Sustainable Lithium.
- Expected to be among the lowest cost lithium producers
globally with average cash costs of US$454/t (CIF China).
- Combined average annual free cash flow of US$595 million over the 13-years of
operation.
- Sigma Lithium is in construction of a greentech lithium
processing plant integrated with its own lithium ore
feedstock.
-
- The Company is fully funded to production for
remaining Phase 1 capex of US$111
million.
- Phase 1 remains on schedule and on budget to begin
commissioning by year-end 2022.
- Phase 2 Greentech Plant and mine capex is estimated at
US$76 million.
- Detailed engineering and feasibility level geotechnical
workstream are being initiated at Phase 2.
- Therefore, construction of Phase 2 is expected to begin once
Phase 1 initiates commissioning.
- The technical report projects results for an integrated,
multi-stage approach to development of Phase 1 and Phase 2
production of Battery Grade Sustainable Lithium as
follows:
-
- Combined after-tax NPV8% of US$5.1 billion.
- Combined after-tax IRR of 589%.
- 13-year project life (fully integrated with both Phase 1
& 2 mines).
- Sigma Lithium's integrated technical report encompasses
just two initial production phases of the Grota do
Cirilo Project (Phase 1 and Phase 2). Sigma Lithium continues to
work on the remaining six former artisanal mines within its
properties in order to prepare them for potential
development.
-
- Phase 1 Feasibility Study contemplates the
Greentech Plant fully integrated with the Phase 1 mine, both
currently in construction:
-
- Expected to produce 270,000 tpa of Battery Grade Sustainable
Lithium (36,700 tpa LCE).
- Estimates annual steady-state free cash flow of US$455 million over the 8 years of
operation.
- After-tax NPV8% of US$2.6
billion, IRR of 571% over an 8-year operating life, and
payback period of just 3 months.
- Average All-In Sustaining Costs projected to be US$459/t (cash production costs plus royalties
and transportation costs CIF China)
- Phase 2 Pre-Feasibility Study evaluates a second
"twin" Greentech Plant fully integrated with the Phase 2
mine:
-
- Expected to produce an additional 261,100 tpa of Battery
Grade Sustainable Lithium (35,500 tpa LCE).
- Estimates annual steady-state free cash flow of US$342 million over the 12 years of
operation.
- After-tax NPV8% of US$2.4
billion, IRR of 764% over a 12-year operating life, and
payback period of just 2 months.
- Average All-In Sustaining Costs projected to be US$453/t (cash production costs plus royalties
and transportation costs CIF China)
- Phase 3 preliminary economic assessment:
targeted for summer 2022, with the goal of planning a
potential Phase 3 production expansion from its existing
estimated 59 million tonnes of mineral resources (50.3 million
tonnes of measured and indicated mineral resources and 8.6 million
tonnes of inferred mineral resources).
- Combined Phase 1 + Phase 2 has the potential to be one of
the lowest-cost operations globally of Battery Grade Sustainable
Lithium.
-
- Significant cost advantage from vertical integration with
Sigma Lithium's 33.6 million tonnes of estimated high-grade mineral
reserves.
- Phase 1 spodumene ore feed grade of 1.55% Li2O,
Phase 2 spodumene ore feed grade of 1.37% Li2O.
- Average FOB Cash Costs of US$340/t (FOB Greentech Plant, at operation's
truck bay).
- Average CIF Cash Costs of US$454/t (CIF China).
- Sigma Lithium is expected to produce the world's most
environmentally responsible lithium:
-
- 100% of the tailings to be dry stacked.
- 100% clean, renewable hydro power.
- 100% of the water recirculated/reused in the plant – and
sourced from a river with "high chemical levels of raw sewage
contamination".
- Grota do Cirilo is located in Brazil, a tier-1 metals and mining operating
jurisdiction with existing complete infrastructure: transmission
power lines, roads and ports.
-
- Close proximity to the emerging Atlantic supply chain for
electric vehicles in North America
and Europe.
VANCOUVER, BC, May 26, 2022
/CNW/ -- SIGMA Lithium Corporation ("Sigma Lithium"
or the "Company") (NASDAQ: SGML, TSXV: SGML),
dedicated to powering the next generation of electric vehicles with
environmentally sustainable and high-purity lithium, is pleased to
announce the filing of its consolidated Phase 1 DFS and Phase 2 PFS
Update of the NI 43-101 Technical Report (the "Consolidated
Technical Report") for its 100% owned Grota do Cirilo Project
(the "Project" or "Grota do Cirilo"). The
Consolidated Technical Report incorporates the Phase 1 Feasibility
Study and a Phase 2 Pre-Feasibility Study, and demonstrates robust
combined economics, highlighted by a combined after-tax
NPV8% of US$5.1 billion
and combined after-tax IRR of 589%.
"With Phase 1 funded and in construction, we are delighted to
share our progress on Phase 2 and the combined economics of this
fully-integrated lithium project," says Ana
Cabral-Gardner, Co-CEO and Co-Chairperson of Sigma Lithium.
"We remain focused on delivering Battery Grade Sustainable Lithium
for the electric vehicle supply chain, while continuing to focus on
lifting the most vulnerable members of our local communities in
Vale do Jequitinhonha, Brazil."
The Consolidated Technical Report considers a fully integrated
and environmentally sustainable production of battery grade high
purity lithium concentrate ("Battery Grade Sustainable
Lithium"), with feedstock spodumene ore sourced from its
Phase 1 and Phase 2 lithium deposits. The combined
operation increases average run-rate production to 531,000 tpa of
Battery Grade Sustainable Lithium. Additionally, Grota do Cirilo's
operating life has been extended by more than 50% to 13 years with
the addition of Phase 2 production from the initial eight years in
the Phase 1 Feasibility Study.
The Consolidated Technical Report estimates US$76 million of additional capital expenditures
to build a "second production line" to produce Battery Grade
Sustainable Lithium in a Phase 2.
The key factors influencing the robust Consolidated Technical
Report economics include:
- high average feed grades of 1.55% Li2O for Phase 1
and 1.37% Li2O for Phase 2; and
- The superior recovery rates achieved by the greentech plant in
the dense media separation ("DMS") circuit of 65.0% for
Phase 1 and 57.9% for Phase 2.
The Company expects to announce an updated mineral resource
estimate in the second quarter of 2022, with the goal of
determining the potential for a further production expansion
("Phase 3"). A Preliminary Economic Assessment on Phase 3 is
expected to be completed at the end of the second quarter or early
in the third quarter of 2022.
The Company has filed the Consolidated Technical Report and it
is available on SEDAR (www.sedar.com), EDGAR (www.sec.gov) and the
Company's corporate website. The Consolidated Technical Report is
NI 43-101 compliant and was issued on May
25, 2022. The Consolidated Technical Report was prepared for
Sigma Lithium by: Homero Delboni
Jr., MAusIMM, Promon Engenharia; Marc-Antoine Laporte, P. Geo, SGS Canada Inc;
Jarret Quinn, P. Eng., Primero Group
Americas; Porfirio Cabaleiro
Rodriguez, (MEng), FAIG, GE21 Consultoria Mineral; and
Brian Talbot, FAusIMM, Rtek Pty
Ltd.
Integrated Economic
Analysis
The Grota do Cirilo Phase 1 and Phase 2 after-tax
NPV8% and after-tax IRR of US$5.1
billion and 589% were calculated based on an average annual
production run-rate of 531,000 tonnes of Battery Grade Sustainable
Lithium and a 13-year operating life. A financial summary for the
Project is included in Table 1 below, which demonstrates the robust
economics for the production of Battery Grade Sustainable Lithium
for the following concentrations of lithium oxide: 6.0%, 5.5% and
5.2%.
Table 1: Phase 1 & 2 Financial Summary
Base Case Phase 1
& 2
|
6.0%
Li2O
|
5.5%
Li2O
|
5.2%
Li2O
|
Economic
Analysis
|
|
|
|
After-Tax Net Present Value (@ 8% Discount
Rate)
|
US$4.0
Billion
|
US$5.1
Billion
|
US$5.4
Billion
|
After-Tax Internal Rate of Return
|
495%
|
589%
|
624%
|
|
|
|
|
Revenues, Cash Flow
and Capex
|
|
|
|
Operating Life
|
13
years
|
13
years
|
13
years
|
Battery
Grade Lithium Run-Rate Production
|
440,400
tpa
|
531,000
tpa
|
561,700
tpa
|
Lithium
Carbonate Equivalent Run-Rate Production
|
65,300 tpa
LCE
|
72,200 tpa
LCE
|
72,200 tpa
LCE
|
Average
Annual Revenue
|
US$756
M
|
US$915
M
|
US$968
M
|
Average
Annual After-Tax Free Cash Flow
|
US$472
M
|
US$595
M
|
US$637
M
|
Costs per tonne of
Lithium
|
|
|
|
Total
Cash Cost at Production
|
US$399/t
|
US$340/t
|
US$325/t
|
All-in
Sustaining Cost (CIF China)
|
US$515/t
|
US$455/t
|
US$440/t
|
Phase 1
Lithium Recovery Rate (DMS)
|
60.4%
|
65.0%
|
65.0%
|
Phase 2
Lithium Recovery Rate (DMS)
|
50.9%
|
57.9%
|
57.9%
|
Integrated Costs
(per tonne of lithium)
|
|
|
|
Mining
costs
|
US$236/t
|
US$194/t
|
US$184/t
|
Greentech Plant Processing costs
|
US$69/t
|
US$57/t
|
US$54/t
|
G&A
costs
|
US$30/t
|
US$25/t
|
US$24/t
|
Transportation costs (Mine to CIF China)
|
US$114
|
US$114
|
US$114
|
Spodumene Mined
Feedstock for Greentech Plant
|
|
|
|
Total
quantity mined
|
33.6
Mt
|
33.6
Mt
|
33.6
Mt
|
Annual
run of mine (ROM)
|
2.6
Mtpa
|
2.6
Mtpa
|
2.6
Mtpa
|
Table 2 below highlights the robust Phase 1 only standalone
economics for the production of Battery Grade Sustainable Lithium
for the following concentrations of lithium oxide: at 6.0%, 5.5%
and 5.2%.
Table 2: Phase 1 Only Financial Summary
Base Case Phase 1
Only
|
6.0%
Li2O
|
5.5%
Li2O
|
5.2%
Li2O
|
Economic
Analysis
|
|
|
|
After-Tax Net Present Value (@ 8% Discount
Rate)
|
US$2.2
Billion
|
US$2.6
Billion
|
US$2.8
Billion
|
After-Tax Internal Rate of Return
|
482%
|
571%
|
606%
|
After-Tax Payback Period
|
3
months
|
3
months
|
2
months
|
Revenues, Cash Flow
and Capex
|
|
|
|
Operating Life
|
8
years
|
8
years
|
8
years
|
Battery
Grade Lithium Run-Rate Production
|
230,000
tpa
|
270,000
tpa
|
285,600
tpa
|
Lithium
Carbonate Equivalent Run-Rate Production
|
34,100 tpa
LCE
|
36,700 tpa
LCE
|
36,700 tpa
LCE
|
Average
Annual Revenue
|
US$575
M
|
US$675
M
|
US$714
M
|
Average
Annual After-Tax Free Cash Flow
|
US$376
M
|
US$455
M
|
US$485
M
|
Costs per tonne of
Lithium
|
|
|
|
Total
Cash Cost at Production
|
US$386/t
|
US$339/t
|
US$324/t
|
All-in
Sustaining Cost (CIF China)
|
US$506/t
|
US$459/t
|
US$444/t
|
Lithium
Recovery Rate (DMS)
|
60.4%
|
65.0%
|
65.0%
|
Integrated Costs
(per tonne of lithium)
|
|
|
|
Mining
costs
|
US$229/t
|
US$195/t
|
US$185/t
|
Greentech Plant Processing costs
|
US$65/t
|
US$56/t
|
US$53/t
|
G&A
costs
|
US$21/t
|
US$18/t
|
US$17/t
|
Transportation costs (Mine to CIF China)
|
US$119/t
|
US$119/t
|
US$119/t
|
Spodumene Mined
Feedstock for Greentech Plant
|
|
|
|
Total
quantity mined
|
11.8
Mt
|
11.8
Mt
|
11.8
Mt
|
Annual
run of mine (ROM)
|
1.5
Mtpa
|
1.5
Mtpa
|
1.5
Mtpa
|
Spodumene ore feed grade LOM average
|
1.55%
|
1.55%
|
1.55%
|
Table 3 below highlights the robust Phase 2 only standalone
economics for the production of Battery Grade Sustainable Lithium
for the following concentrations of lithium oxide: at 6.0%, 5.5%
and 5.2%.
Table 3: Phase 2 Only Financial Summary
Base Case Phase 2
Only
|
6.0%
SC
|
5.5%
SC
|
5.2%
SC
|
Economic
Analysis
|
|
|
|
After-Tax Net Present Value (@ 8% Discount
Rate)
|
US$1.9
B
|
US$2.4
B
|
US$2.6
B
|
After-Tax Internal Rate of
Return
|
601%
|
764%
|
813%
|
After-Tax Payback
Period
|
2
months
|
2
months
|
2
months
|
Revenues, Cash Flow
and Capex
|
|
|
|
Operating Life
|
12
years
|
12
years
|
12
years
|
Battery Grade Lithium Run-Rate
Production
|
210,400
tpa
|
261,100
tpa
|
276,100
tpa
|
Lithium Carbonate Equivalent Run-Rate
Production
|
31,200 tpa
LCE
|
35,500 tpa
LCE
|
35,500 tpa
LCE
|
Average Annual
Revenue
|
US$436
M
|
US$541
M
|
US$573
M
|
Average Annual After-Tax Free Cash
Flow
|
US$260
M
|
US$342
M
|
US$366
M
|
Costs per tonne of
Lithium
|
|
|
|
Total Cash Cost at
Production
|
US$408/t
|
US$340/t
|
US$325/t
|
All-in Sustaining Cost (CIF
China)
|
US$521/t
|
US$453/t
|
US$437/t
|
Lithium Recovery Rate
(DMS)
|
50.9%
|
57.9%
|
57.9%
|
Integrated Costs
(per tonne of lithium)
|
|
|
|
Mining costs
|
US$240/t
|
US$194/t
|
US$183/t
|
Greentech Plant Processing
costs
|
US$72/t
|
US$58/t
|
US$55/t
|
G&A costs
|
US$37/t
|
US$30/t
|
US$28/t
|
Transportation costs (Mine to CIF
China)
|
US$110/t
|
US$110/t
|
US$110/t
|
Spodumene Mined
Feedstock for Greentech Plant
|
|
|
|
Total quantity
mined
|
21.8
Mt
|
21.8
Mt
|
21.8
Mt
|
Annual run of mine
(ROM)
|
1.8
Mtpa
|
1.8
Mtpa
|
1.8
Mtpa
|
Spodumene ore feed grade LOM average
|
1.37%
|
1.37%
|
1.37%
|
Grota do Cirilo's average revenue and operating costs per tonne
of Battery Grade Sustainable Lithium are outlined in Table 4 below.
The lithium prices forecasted are based on the Benchmark Mineral
Intelligence curve of battery grade lithium hydroxide (LiOH) shown
in Figure 1, with the price of the Battery Grade Sustainable
lithium calculated based on a fixed percentage of 9% of the LiOH
price. This is based on an average Battery Grade Sustainable
Lithium price of US$3,159/t for 2022
to 2026, with a long-term Battery Grade Sustainable Lithium price
of US$1,710/t from 2027 to 2035.
Table 4: Grota do Cirilo Integrated Estimated Revenue and
Operating Costs
Estimated Revenue, Operating Cost and After-Tax
Earnings
|
Annual Average Economics
(1)
(13 Year Operating Life)
|
|
(US$ MM)
|
(US$/t)
|
Gross Revenue
|
$915
|
$2,247
|
|
|
|
Less: Realization costs
|
($26)
|
($63)
|
(-) CFEM Royalty
|
($18)
|
($45)
|
(-) Other
Royalties
|
($7)
|
($18)
|
(-) Commercial
Discount
|
-
|
-
|
Net Revenues
|
$889
|
$2,184
|
Less: Site Operating Costs
|
($159)
|
($390)
|
(-) Mining
|
($79)
|
($194)
|
(-) Processing
|
($23)
|
($57)
|
(-) Transport
|
($46)
|
($114)
|
(-) Selling, General &
Administration
|
($10)
|
($25)
|
(-) Depreciation
|
($27)
|
($67)
|
EBIT
|
$703
|
$1,727
|
% EBIT Margin
|
79%
|
79%
|
(-) Taxes
|
($107)
|
($263)
|
After-Tax Earnings
|
$596
|
$1,463
|
% After-Tax Earnings
Margin
|
67%
|
67%
|
|
|
(1)
|
Based on the production
of Battery Grade Sustainable Lithium at 5.5%
|
Given the relatively low capital intensity of the Project, the
after-tax NPV8% shows low sensitivity to changes in
capex, BRL/USD exchange rate and operating expenses. Grota do
Cirilo's after-tax NPV8% is more sensitive to variations
in Battery Grade Sustainable Lithium prices, as reflected in Figure
2 below.
Capital Expenditures
In addition to the remaining US$111
million pre-production Phase 1 capex (which is already fully
funded), the Consolidated Technical Report estimates
US$76 million of additional capex to
build a "second production line" to produce Battery Grade
Sustainable Lithium process in a Phase 2. This Phase 2 expansion is
expected to be constructed during the first year of production for
Phase 1 at the Project, with Phase 2 production expected to
commence in the second year of production.
The Phase 1 capex was estimated at a FEL3 level of engineering
detail, whereby the engineering firms provided pricing
quotations from qualified suppliers for all areas of
construction (summarized in Table 5 below).
- This FEL3 quoting exercise was led by the procurement teams at
Promon Engenharia Ltda., for infrastructure, services, buildings
and bulk earthworks; Primero Group Ltd ("Primero") for
crushing plant and DMS plant; and GE21 Consultoria Mineral
("GE21") for mining.
The pre-production Phase 2 capex to construct the "second
production line" (including all direct and indirect costs and
contingencies in each line item) is summarized in Table 5 below and
was estimated with an accuracy of ±25%.
- Primero provided the estimates related to infrastructure,
services, buildings, bulk earthworks, crushing and DMS. GE21
provided the estimates related to mining capex.
Table 5: Capex to Commercial Production
Item
|
Phase 1 (Year 1)
(1)
|
Phase 2 (Year 2)
(2)
|
|
(US$ M)
|
(US$ M)
|
Mine
|
$8.5
|
$2.3
|
Process Plant
|
$69.8
|
$53.9
|
Environmental Equipment (Water & Dry
Stacking)
|
$16.6
|
$7.3
|
Engineering
Services
|
$19.2
|
$11.6
|
Substation & Utility Power
Supply
|
$7.4
|
-
|
Operational and ESG Expenses During
Construction
|
$9.8
|
$3.2
|
Working Capital During Plant
Commissioning
|
$6.1
|
$1.0
|
Tax Incentives
(Savings)
|
($5.9)
|
($3.5)
|
Capex already Disbursed During
Construction
|
($20.7)
|
-
|
Total Capex to
Commercial Production
|
$110.9
|
$75.7
|
|
|
(1)
|
The operating life
capital is estimated at US$3.2 M (including contingency) for
replacement of key plant components over the Phase 1 operating
life, considering the modelled operating life and useful life of
major equipment items. The sustaining capex is mainly for the
crushing area and allows for crusher rebuilds
(replacements).
|
(2)
|
The operating life
capital is estimated at US$166.9 M and includes capitalized
stripping of US$56.7 M in year 6, US$52.9 M in year 7 and US$50.8 M
in year 8.
|
All-In Sustaining Cost
The operating cost estimate is based on an owner-operated model
with contract mining. Table 6 below shows the anticipated average
operating costs over the operating life.
Mining costs were estimated based on a quoted proposal from a
large Brazilian mining contractor, selected after an extensive
tender process by the Company and its mining consultant, GE21.
Grota do Cirilo Battery Grade Sustainable Lithium is forecasted
to have very low All-in Sustaining Costs (CIF China) of
US$455/t, mainly as a result of the
following:
- high-grade and low impurities, as well as large crystal
mineralization of the spodumene feed;
- high recoveries achieved in the green tech plant DMS;
- low overall processing costs of the DMS, resulting from its
streamlined processing circuit (with less processing steps),
therefore utilizing less electricity, water and chemical
ingredients than a typical lithium flotation plant; and
- low local G&A costs in Brazil.
Grota do Cirilo's mining costs have decreased from the
standalone Phase 1 operation partially as a result of a lower Phase
2 strip ratio (waste mined per ore mined) of 12.5 versus the Phase
1 strip ratio of 16.6.
Table 6: Grota do Cirilo Operating Cost Estimate
Operating Cost
Category
|
US$/t
SC
|
Mining
|
$194
|
Processing
|
$57
|
G&A
|
$25
|
Royalties
|
$63
|
Total Cash Cost
(FOB)
|
$340
|
Transport & Ocean Freight
Costs
|
$114
|
Total Cash Cost (CIF
China)
|
$454
|
Sustaining
|
$2
|
All-In Sustaining
Cost (CIF China)
|
$455
|
QUALIFIED PERSONS
The mining and mineral reserve estimates in this news release
has been reviewed and approved by Porfirio
Cabaleiro Rodriguez P.Eng, Mining Engineer of GE21
Consultoria Mineral Brazil. Mr. Rodriguez is a Qualified Person as
defined by National Instrument 43-101 and is independent of Sigma
Lithium.
The technical and scientific information related to geology and
mineral resource estimate in this news release has been reviewed
and approved by Marc-Antoine Laporte
P.Geo., M.Sc., of SGS Geological Services. Mr. Laporte is a
Qualified Person as defined by National Instrument 43-101 and is
independent of Sigma Lithium.
The financial information in this news release has been reviewed
and approved by Brian Talbot BSc Engineering (Chemical), FAusIMM.
Mr. Talbot is a Qualified Person as defined by National Instrument
43-101 and is independent of Sigma Lithium.
The technical and scientific information related to DMS
recoveries in this news release has been reviewed and approved by
Jarrett Quinn, P.Eng., Primero Group
Americas Inc. Mr. Quinn is a Qualified Person as defined by
National Instrument 43-101 and is independent of Sigma Lithium.
ABOUT SIGMA LITHIUM
CORPORATION
Sigma Lithium (NASDAQ: SGML, TSXV: SGML) is a Canadian company
dedicated to powering the next generation of electric vehicle
batteries with environmentally sustainable and high-purity
lithium.
Sigma Lithium is currently in construction at its wholly owned
Grota do Cirilo Project in Brazil,
which includes a state-of-the-art, green-tech processing plant that
uses 100% renewable energy, 100% recycled water and 100% dry-stack
tailings. The project also represents one of the largest and
highest-grade hard rock lithium spodumene deposits in the
Americas. Since inception, Sigma has devoted itself to strong
ESG practices, from its ongoing support of local communities to its
goal of achieving net zero by 2024. For more information about
Sigma Lithium, visit https://www.sigmalithiumresources.com/
Sigma Lithium
Linkedin
|
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Lithium
|
Instagram
|
@sigmalithium
|
Twitter
|
@SigmaLithium
|
FORWARD-LOOKING
STATEMENTS
This news release includes certain "forward-looking
information" under applicable Canadian and U.S. securities
legislation, including but not limited to statements relating to
timing and costs related to the delivery of additional incremental
production at varying grades, NPV, IRR and payback estimates,
increase in after tax cash flow, expected strip ratios, potential
to be among the lowest cost producers in the industry, production,
operating and capital cost estimates (including sustaining costs
and improvements in respect thereof), all estimates and assumptions
relating to the economic analysis and financial summary including
but not limited to revenue and production estimates, operating
life, plant recoveries and feedstock estimates, lithium prices,
mineral resource and mineral reserve estimates (including
assumptions and estimates used in preparing the mineral reserve and
mineral resource estimates), Phase 3 projections, economic
development in the jurisdictions in which Sigma Lithium operates,
the general business and operational outlook of the Company, and
other forward-looking information. All statements that address
future plans, activities, events, estimates, expectations or
developments that the Company believes, expects or anticipates will
or may occur is forward-looking information, including statements
regarding the potential development of mineral resources and
mineral reserves which may or may not occur. Forward-looking
information contained herein is based on certain assumptions
regarding, among other things: general economic and political
conditions; the stable and supportive legislative, regulatory and
community environment in the jurisdictions where the Company
operates; anticipated trends and effects in respect of the COVID-19
pandemic and post-pandemic; the military conflict in Ukraine and related sanctions; demand for
lithium, including that such demand is supported by growth in the
electric vehicle market; the Company's market position and future
financial and operating performance; the Company's estimates of
mineral resources and mineral reserves, including whether mineral
resources will ever be developed into mineral reserves; and the
Company's ability to develop and achieve production at its mineral
projects.
Although management believes that the assumptions and
expectations reflected in the forward-looking information are
reasonable, there can be no assurance that these assumptions and
expectations will prove to be correct. Forward-looking information
inherently involves and is subject to risks and uncertainties,
including but not limited to that the Company may not develop its
mineral projects into a commercial mining operation; the market
prices for lithium may not remain at current levels; and the market
for electric vehicles and other large format batteries currently
has limited market share and no assurances can be given for the
rate at which this market will develop, if at all, which could
affect the success of the Company and its ability to develop
lithium operations. There can be no assurance that such statements
will prove to be accurate, as actual results and future events
could differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on
forward-looking information. The Company disclaims any intention or
obligation to update or revise any forward-looking information,
whether because of new information, future events or otherwise,
except as required by law. For more information on the risks,
uncertainties and assumptions that could cause our actual results
to differ from current expectations, please refer to the current
annual information form of the Company and other public filings
available under the Company's profile at www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
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SOURCE Sigma Lithium Corporation