Standard Lithium reports cash totaling C$59.6M as of June 30

“As we conclude fiscal year 2023, we take pride in our achievements,” said Robert Mintak CEO of Standard Lithium. “Over the past year, and with a particularly robust set of activities in our fiscal Q4, we conducted extensive drilling, resource development and engineering work. This effort culminated in the successful delivery of the Preliminary Feasibility Study for the South West Arkansas Project and the Definitive Feasibility Study for the Phase 1A Project at the LANXESS South Plant. These milestones reaffirm our commitment to concurrent project advancement, with the aim of delivering commercial production in 2026 and 2027. Recent media reports have highlighted the interest of global energy companies’ in lithium, specifically brine resources, and the Smackover Formation as their preferred resource, validating our work. Building upon our established strategic partnerships with industry leaders like Koch and LANXESS, we are receptive to and continuously exploring opportunities to forge synergistic collaborations and further de-risk our projects. Additionally, we are expanding our presence in East Texas, cementing our dedication to exploring and unlocking the full potential of this resource-rich region. While lithium prices have retreated from record highs earlier this year, it’s noteworthy that demand for responsibly produced U.S. lithium has surged. Our engagement with global OEMs, battery companies, and strategic parties has accelerated, underscoring the growing demand for ethically sourced lithium. In collaboration with our finance and policy advisors, we are actively exploring non-dilutive capital sources, including those made available through the Inflation Reduction Act and other administration programs, to expedite our efforts. We are working diligently to seize opportunities and leverage our expertise to shape the growth and sustainability of the lithium sector.”