Sigma Lithium Corporation SGML shares are trading higher after the company disclosed fourth-quarter FY23 results and a Final Investment Decision (FID) to double the production of its Quintuple Zero Green Lithium.
The company reported revenue of $37.7 million and made three shipments of Quintuple Zero Green Lithium concentrate, totaling 64,670 tonnes in the quarter.
Revenue was impacted by an adjustment of about $30 million, partly due to a lithium price decline. The average realized price of concentrate shipped in the fourth quarter was $1,067/tonne.
On a recurring, pro forma, basis, the company estimates its quarterly cash operating costs averaging $384/tonne, or $455/tonne Free On Board (FOB) Vitoria.
Sigma Lithium reported fourth-quarter adjusted EBITDA of $31.3 million and a net loss of $(9.5) million, translating into an EPS loss of $(0.08).
Capital expenditures stood at $6.5 million in the quarter, reflecting incremental…
