5E Advanced Materials, Inc. (Nasdaq: FEAM) (ASX: 5EA)
(
5E or the
Company), a boron and
lithium company with U.S. government Critical Infrastructure
designation for its 5E Boron Americas Complex, provided an update
on mining operations and related activities as it moves closer to
initial production at the Company’s 5E Boron Americas Complex.
“This is an exciting time for all stakeholders
of the Company as we finalize a number of initiatives that will see
us commence initial production next quarter,” commented Susan
Brennan, Chief Executive Officer of 5E Advanced Materials. “Our
operations team is working diligently to transition our facility to
operational status, and we are concurrently ramping up our
commercial and marketing activities in order to leverage the value
of our boron and lithium with potential customers. I cannot
emphasize enough the importance 5E will represent in the U.S. in
the coming months as a new and secure producer of critical
materials needed for clean energy economies.”
Operational Development
Updates
Boric Acid and Lithium
Product
Since the launch of mining operations last month
at the 5E Boron Americas Complex, the Company has been successfully
running all four of its production wells to extract boric acid and
lithium. Initial head grade and recovery rates are in line with
historical expectations, with the wells continuing to be
conditioned to achieve final operational profile.
Extracted solution from the Company’s initial
production wells has produced boric acid after laboratory
crystallization. This boric acid has been sent to an independent
laboratory for analysis to validate commercial grade quality.
Facility Operations
Significant progress has been made with respect
to the finalization of final electrical engineering work, which is
now nearly complete. The personnel required to run the plant are
already in place, and final appointments are being made for fully
staffed status ahead of final plant commissioning. 5E remains on
track to begin operating the plant commercially, starting in CY Q2
2024.
The Company now employs 51 professionals and is
pleased to be employing talent from local communities.
|
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Figure 1: Photo of 5E lab assistant testing boric
acid head-grade |
Figure 2: Photo of wellfield DCS Feb 2024 |
Market Engagement Updates
Customers
Commercial discussions continue to move in a
positive direction, as the Company works with various potential
off-take partners. 5E intends to use product from initial
production next quarter to complete product validation, which will
be focused on product acceptance within a variety of boric acid
consumers.
Government
The Company’s Government Affairs program also
continues to drive progress in its effort to gain increased support
for large-scale production of boric acid and lithium at Fort Cady.
The Company is currently engaged in several funding proposals with
various federal government agencies, including the Department of
Defense (DOD) and Department of Energy (DOE). The Company recently
announced its public support of a congressional push to include
boron into the upcoming Critical Minerals List, administered by the
United States Geological Society, under the Department of the
Interior (DOI). As this program continues to evolve and progress,
it will underpin the Company’s longer-term financing strategy.
Investor Engagement
5E is currently focused on deploying several
marketing initiatives designed to increase engagement across all
market stakeholders. This includes analyst briefings, institutional
and fund investor meetings, conferences, and targeted industry
trade shows. The Company attended the Mines and Money conference
last week in Miami and will be attending the Prospectors &
Developers Association of Canada (PDAC) event in March.
A targeted retail strategy is also underway with
the Company to support broader awareness and digital campaigns to
retail and institutional investors.
Figure 3: Photo of 5E investor booth at
Mines and Money Miami conference
About 5E Advanced Materials, Inc.
5E Advanced Materials, Inc. (Nasdaq: FEAM) (ASX:
5EA) is focused on becoming a vertically integrated global leader
and supplier of boron specialty and advanced materials,
complemented by lithium co-product production. The Company’s
mission is to become a supplier of these critical materials to
industries addressing global decarbonization, food and domestic
security. Boron and lithium products will target applications in
the fields of electric transportation, clean energy infrastructure,
such as solar and wind power, fertilizers, and domestic security.
The business strategy and objectives are to develop capabilities
ranging from upstream extraction and product sales of boric acid,
lithium carbonate and potentially other co-products, to downstream
boron advanced material processing and development. The business is
based on our large domestic boron and lithium resource, which is
located in Southern California and designated as Critical
Infrastructure by the Department of Homeland Security’s
Cybersecurity and Infrastructure Security Agency.
Forward-Looking Statements
This press release includes “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995, as amended. All statements other than
statements of historical fact included in this press release
regarding our business strategy, plans, goal, and objectives are
forward-looking statements. When used in this press release, the
words “believe,” “project,” “expect,” “anticipate,” “estimate,”
“intend,” “budget,” “target,” “aim,” “strategy,” “plan,”
“guidance,” “outlook,” “intent,” “may,” “should,” “could,” “will,”
“would,” “will be,” “will continue,” “will likely result,” and
similar expressions are intended to identify forward-looking
statements, although not all forward-looking statements contain
such identifying words. These forward-looking statements are based
on the Company’s current expectations and assumptions about future
events and are based on currently available information as to the
outcome and timing of future events. We caution you that these
forward-looking statements are subject to all of the risks and
uncertainties, most of which are difficult to predict and many of
which are beyond our control, incident to the extraction of the
critical materials we intend to produce and advanced materials
production and development. These risks include, but are not
limited to: our limited operating history in the borates and
lithium industries and no revenue from our proposed extraction
operations at our properties; our need for substantial additional
financing to execute our business plan and our ability to access
capital and the financial markets; our status as an exploration
stage company dependent on a single project with no known
Regulation S-K 1300 mineral reserves and the inherent uncertainty
in estimates of mineral resources; our lack of history in mineral
production and the significant risks associated with achieving our
business strategies, including our downstream processing ambitions;
our incurrence of significant net operating losses to date and
plans to incur continued losses for the foreseeable future; risks
and uncertainties relating to the development of the Fort Cady
project, including our ability to timely and successfully complete
our Small Scale Boron Facility; our ability to obtain, maintain and
renew required governmental permits for our development activities,
including satisfying all mandated conditions to any such permits;
the implementation of and expected benefits from certain reduced
spending measures, and other risks and uncertainties set forth in
our filings with the U.S. Securities and Exchange Commission from
time to time. Should one or more of these risks or uncertainties
occur, or should underlying assumptions prove incorrect, our actual
results and plans could differ materially from those expressed in
any forward-looking statements.
These risks are not exhaustive and the
information in this press release may be subject to additional
risks. No representation or warranty (express or implied) is made
as to, and no reliance should be place on, any information,
including projections, estimates, targets, and opinions contained
herein, and no liability whatsoever is accepted as to any errors,
omissions, or misstatements contained herein. You are cautioned not
to place undue reliance on any forward-looking statements, which
speak only as to the date of this press release.
For additional information regarding these
various factors, you should carefully review the risk factors and
other disclosures in the Company’s Form 10-K filed on August 30,
2023. Additional risks are also disclosed by 5E in its filings with
the U.S. Securities and Exchange Commission throughout the year,
including its Form 10-K, Form 10-Qs and Form 8-Ks, as well as in
its filings under the Australian Securities Exchange. Any
forward-looking statements are given only as of the date hereof.
Except as required by law, 5E expressly disclaims any obligation to
update or revise any such forward-looking statements. Additionally,
5E undertakes no obligation to comment on third party analyses or
statements regarding 5E’s actual or expected financial or operating
results or its securities.
For further information contact:
Joseph CaminitiAlpha IR GroupFEAM@alpha-ir.comPh: +1 (312)
445-2870 |
J.T. StarzeckiChief Marketing
Officerjstarzecki@5eadvancedmaterials.comPh: +1 (612) 719-5076 |
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5E Advanced Materials (NASDAQ:FEAM)
過去 株価チャート
から 4 2024 まで 5 2024
5E Advanced Materials (NASDAQ:FEAM)
過去 株価チャート
から 5 2023 まで 5 2024