Company
CVE:SGML
Sigma Lithium Corp is a lithium exploration and development company. The company's lithium properties are located in the State of Minas Gerais, Brazil. Sigma Lithium holds interests in Grota do Cirilo, Sao Jose, Santa Clara, and Genipapo projects.
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"Contributing to lift our neighbors in the communities around the project is the core purpose of Sigma, motivating us every day to execute faster and better,” co-CEO Ana Cabral-Gardner told investors
The company said the report highlights it as one of only a few companies expected to supply additional lithium to the global markets in the near term
The company said it now intends to issue from treasury a total of approximately 11,634,137 common shares, up from the approximately 7,234,042 shares previously announced, still at C$11.75 per share
The Vancouver-based firm plans to use the proceeds from the offering to advance construction and development of Grota de Cirilo, where it is on track to begin production in late 2022
The company expects to use the net proceeds for the construction and development of its Grota do Cirilo project and for general corporate purposes
The company said it is on track to begin production at its Grota do Cirilo lithium project in the fourth quarter of 2022
The company also noted that it was highlighted for its pioneering practices in environmental sustainability at various events during the recent COP-26 World Climate Summit
The company said the construction stage, which involves the execution of the earthworks to build the foundation and infrastructure of the production plant, is expected to be completed within three months
"Countries that produce lithium will gain relevance and importance on the global stage over the next decade in the race to net zero. This is why so many governments across Europe, the US, South America and Asia are decarbonizing mobility an
Cabral-Gardner also highlighted some major challenges of the lithium mining industry, which included rapid scaling and achieving environmental and social sustainability
The lithium firm will supply its 6% battery-grade high purity and sustainable lithium concentrate to LG, with guaranteed take-or-pay quantities scaling from 60,000 tons per year in 2023 to 100,000 tons per year between 2024 and 2027
The company’s shares now trade on both the NASDAQ and the TSX Venture Exchange under the new ticker symbol ‘SGML’
