Funding and Financial Strategy - 5E Advanced Materials raised $10 million through a $4 million common equity offering and $6 million in convertible notes to fund the first phase of commercial engineering and operations[4]. - 5E is pursuing federal funding applications, including a loan-backed guarantee of up to $285 million from the U.S. Export-Import Bank for the Phase 1 commercial plant[15]. - The company has submitted funding requests totaling approximately $55 million, including a $20 million appropriations request for domestic boric acid production and up to $35 million for engineering work and scalability[40]. - The company has applied for significant grant funding from the DOE and DoD, which could be very impactful for capital expenditures[36]. Production and Operations - Current production rate at the small-scale facility is 1 short ton per day, allowing for liquidity to complete engineering and optimize costs while progressing customer qualifications[7]. - The company is currently producing 1 ton of boric acid per day, which is deemed sufficient for customer qualification programs and allows for future customer onboarding[26]. - Operating costs for the small-scale facility are primarily driven by fixed costs due to 24/7 operations, with variable costs including hydrochloric acid, LNG, and lime[27]. - The company aims to complete the first phase of engineering by December 2024 or January 2025, with a refresh of the technical report expected in early 2025[4][19]. Customer Engagement and Market Demand - The customer qualification program has been launched, with initial samples sent to two specialty glass producers and two additional prospects in the energy transition and military defense sectors[11]. - 5E has received positive feedback from initial customer samples, indicating strong demand and interest in securing a domestic source of boric acid[12]. - The company is in constant dialogue with customers to refine testing processes and timelines for product integration[43]. Technology and Process Optimization - The company is implementing chilled crystallization, which is expected to reduce natural gas consumption by 60% compared to evaporative crystallization, leading to lower operational costs[9]. - The company is focused on optimizing lithium extraction processes to minimize costs while maximizing recovery rates[33]. - The company is evaluating lithium recovery methods, with test samples showing lithium concentrations between 40 ppm and 60 ppm, indicating potential for economic viability[32]. Strategic Partnerships and Future Plans - The company is exploring partnerships for byproducts, including lithium chloride and calcium chloride, to enhance project economics[10]. - There is a focus on exploring partnership opportunities with existing producers and licensing existing technology packages to improve project economics[46]. - The company aims to become a leading producer of boric acid and lithium globally, with a strategy for modular expansion over the coming years[47]. Resource Assessment and Market Pricing - The small-scale facility achieved head grades of 5.5% to 6% boric acid in solution, equating to approximately 10,000 ppms of boron, demonstrating a world-class resource[6]. - Spot pricing for boric acid is currently in the range of USD 1,100 to USD 1,250 per ton, as reported by Fastmarkets[22]. - The company is progressing well with its boric acid side and is currently assessing the calcium stream as part of its FEL-2 engineering program[45]. Regulatory and Funding Opportunities - Being added to the USGS list of critical materials could unlock additional funding opportunities from the Department of Energy and Department of Defense[38].

HESPERIA, Calif., Sept. 04, 2024 (GLOBE NEWSWIRE) -- 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 (Fort Cady) Complex, today provided a shareholder update and review of the period ended June 30, 2024. HIGHLIGHTS The Small-Scale Boron Facility has been producing boric acid, gathering data to further optimize the production process, and refining production efficiency ...

HESPERIA, Calif., Aug. 26, 2024 (GLOBE NEWSWIRE) -- 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, today announced that it has entered into a securities purchase agreement with a single institutional investor to purchase 5,333,333 shares of common stock in a registered direct offering at a price of $0.75 per share, along with Series A warrants to purchase up ...

With production rates expected to ramp, line of sight on the next phase of customer qualification, and the optimization work currently in process near completion, the Company will prioritize its FEL2 engineering program with targeted completion in early 2025. Included in the scope of the FEL2 program is a capital estimate of +/- 25% for the 90,000 short ton per annum facility, which will drive an updated technical report summary and pre-feasibility report. For additional information regarding these various ...

Recent Boric Acid Samples from the 5E Boron Americas Complex HESPERIA, Calif., July 01, 2024 (GLOBE NEWSWIRE) -- 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, today announced that it has initiated its customer qualification program, shipping samples of the Company's boric acid to multiple customers. This key advancement is expected to facilitate further com ...

Investors, analysts and members of the media interested in listening to the live presentation are encouraged to join a webcast of the call, available at https://events.6ix.com/preview/5e-advanced-materials-market-update. A replay of the webcast will be available on the Company's Investor Relations section of its website within 24 hours of completion. 5E Advanced Materials, Inc. (Nasdaq: FEAM) (ASX: 5EA) is focused on becoming a vertically integrated global leader and supplier of boron specialty and advanced ...

Investors, analysts and members of the media interested in listening to the live presentation are encouraged to join a webcast of the call, available at https://events.6ix.com/preview/5e-advanced-materials-market-update. A replay of the webcast will be available on the Company's Investor Relations section of its website within 24 hours of completion. About 5E Advanced Materials, Inc. 5E Advanced Materials, Inc. (Nasdaq: FEAM) (ASX: 5EA) is focused on becoming a vertically integrated global leader and suppli ...

Additional notes expands the Company's runway for further refinement of active operational process development and expanded commercial arrangements Company provides additional updates on recent operational performance HESPERIA, Calif., May 28, 2024 (GLOBE NEWSWIRE) -- 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, agreed to issue $6 million in additional sen ...

Core Insights - 5E Advanced Materials, Inc. has agreed to issue $6 million in additional senior secured convertible notes to support ongoing operations and engineering efforts for its Small-Scale Facility and FEL-2 engineering [1][2] - The company aims to optimize capital expenditures (CAPEX) and operational expenditures (OPEX) while preparing for customer qualification and commercial agreements [2][6] - The company is focused on becoming a vertically integrated leader in boron and lithium production, targeting applications in electric transportation, clean energy, and domestic security [4] Financial Updates - The additional notes will be purchased by Bluescape Energy Partners and Ascend Global Investment Fund SPC, with an initial conversion price of $1.53 per share and a maturity date in August 2028, paying interest in-kind at 10% [1][2] - The capital raised will enhance cash resources for the small-scale facility, which has shown promising initial operational results [2] Operational Highlights - Mining operations commenced in early 2024, with the first batch of boric acid produced in April 2024, achieving a run-of-mine head grade of 5.5% [6] - The company is refining its boric acid filtering, drying, and bagging processes to meet customer specifications, with the customer qualification process expected to begin shortly [6] Strategic Objectives - 5E's mission is to supply critical materials for global decarbonization and food security, leveraging its large domestic resource located in Southern California, designated as Critical Infrastructure [4] - The company plans to develop capabilities from upstream extraction to downstream processing of boron and lithium products [4]

HESPERIA, Calif., April 29, 2024 (GLOBE NEWSWIRE) -- 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, today announced the Company's operations team has successfully achieved first production of boric acid and the Company amended its outstanding senior secured convertible notes to extend the waiver of the notes' cash covenant. First Production and Next Steps Wit ...