Standard Lithium reports cash, equivalents totaling C$15.8M

“In 2023, the lithium sector has been under pressure, with lithium prices experiencing a significant decrease from the all-time highs seen in 2022, a situation compounded by the prevailing interest rate environment and other macroeconomic factors,” says Robert Mintak, CEO and Director of Standard Lithium. “Despite the industry-wide market challenge, the long-term fundamentals for lithium continue to be strong, particularly for projects situated in geopolitically stable regions such as the United States, where policy support and other key strategic advantages are enabling for project differentiation. The Smackover region, in particular, is attracting interest from major players in the global energy sector. Discussions around strategic partnerships, joint development opportunities, and long-term off-take are robust and moving forward. In response to these market dynamics, we are taking responsible and appropriate actions that are in the best interests of our shareholders, ensuring that Standard Lithium remains well-positioned to capitalize on what continues to be an exciting sector with extraordinary growth prospects.” Cash and equivalents and working capital of Ca$15.8 million and Ca$5.7 million, respectively, as of second fiscal quarter end, and in combination with the prudent and strategic use of our at-the-market offering program as a tool to fund any short term financing needs, are expected to sustain the Company through the 2024 fiscal year.