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 ...

Core Viewpoint - 5E Advanced Materials, Inc. is expanding its operational capabilities and commercial arrangements through the issuance of $6 million in additional senior secured convertible notes, aimed at supporting its small-scale facility and engineering efforts for larger commercial operations [1][2]. Group 1: Financial Updates - The company has agreed to issue $6 million in additional senior secured convertible notes, with Bluescape Energy Partners and Ascend Global Investment Fund SPC each purchasing $3 million [1]. - The notes are convertible into common stock at a price of $1.53 per share, maturing in August 2028, and will pay interest in-kind at a rate of 10% [1][2]. Group 2: Operational Highlights - Mining operations commenced at the start of 2024, with the appointment of an EPC firm to lead commercial engineering efforts [3]. - The company achieved a run-of-mine head grade of 5.5% and produced its first batch of boric acid from the Small-Scale Facility, refining parameters to meet customer specifications [3]. - The customer qualification process is expected to begin shortly, facilitating future sales of boric acid [3]. Group 3: Company Overview - 5E Advanced Materials, Inc. aims to become a vertically integrated global leader in boron specialty and advanced materials, with a focus on lithium co-product production [4]. - The company targets applications in electric transportation, clean energy infrastructure, fertilizers, and domestic security, leveraging its large domestic boron and lithium resource in Southern California [4].

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 ...

Operations and Production - The company commenced commercial operations and achieved first production of boric acid in March 2024, with over 50,000 gallons of Pregnant Leach Solution (PLS) accumulated and an average head grade of 5.5% during the initial three months of mining operations [88][89]. - The Small-Scale Facility (SSF) is expected to produce up to 2,000 short tons of boric acid annually, with plans to scale up to a run rate of 9,000 short tons and increase lithium production [91]. - The company selected Fluor Corporation as the engineering, procurement, and construction (EPC) services provider for the front end loading stage 2, which will support the upgrading of the technical document into a Pre-feasibility Study (PFS) [93][94]. Financial Position and Restructuring - The company entered into a Standstill Agreement on November 9, 2023, allowing it to temporarily go below the cash covenant of $10 million while addressing liquidity issues [96]. - The Out-of-Court Restructuring included an amendment to increase the number of authorized shares from 180 million to 360 million and the issuance of up to $35 million of common stock at a price of $1.025 per share [98]. - The company raised $15.8 million in net proceeds from equity offerings associated with the Out-of-Court Restructuring, improving its cash position [104]. - The minimum cash condition under the Amended and Restated Note Purchase Agreement was waived through June 28, 2024, with a subsequent reduction in the covenant from $10 million to $7.5 million [102]. - There exists substantial doubt regarding the company's ability to continue as a going concern for a period of one year after the issuance of the financial statements, necessitating additional financing [104]. Expenses and Financial Performance - For the three months ended March 31, 2024, project expenses decreased by $113 thousand, or 9%, compared to the same period in 2023, primarily due to reductions in expenses related to water monitoring wells and technical reports [108]. - For the nine months ended March 31, 2024, project expenses decreased by $4.1 million, or 50%, mainly due to reduced activity in the plug and abandonment program, which accounted for a $5.0 million decrease [109]. - General and administrative expenses for the three months ended March 31, 2024, decreased by $3.0 million, or 50%, primarily due to a reduction in professional and legal fees [110]. - For the nine months ended March 31, 2024, general and administrative expenses decreased by $2.2 million, or 12%, driven by decreased employee incentive compensation costs and marketing expenses [111]. - Research and development expenses for the three months ended March 31, 2024, decreased by $45 thousand, or 100%, due to the completion of engagements with research institutions [112]. - Interest income for the three months ended March 31, 2024, decreased by $315 thousand, or 81%, compared to the same period in 2023, reflecting lower average cash balances [117]. - The loss on extinguishment of debt for the three and nine months ended March 31, 2024, was $21.0 million, resulting from modifications to the terms of the Convertible Notes [118]. - Interest expense for the three months ended March 31, 2024, decreased by $1.4 million, or 63%, primarily due to the elimination of the amortization of the debt discount following the debt modification [120]. - For the nine months ended March 31, 2024, interest expense decreased by $695 thousand, or 14%, due to capitalized interest and the elimination of the debt discount amortization [121]. - There was no income tax expense or benefit recorded for the three and nine months ended March 31, 2024, as a full valuation allowance was maintained against the net deferred tax asset [123]. Cash Flow and Financing - For the nine months ended March 31, 2024, net cash used in operating activities was $19.6 million, a decrease of $4.5 million or 19% compared to the same period in 2023 [124]. - Cash used in investing activities was $5.9 million, a decrease of $24.2 million or 80% compared to the same period in 2023, primarily due to reduced spending on construction [124]. - Cash flows from financing activities included $15.8 million from a private placement of common stock in January 2024, after costs and fees [126]. - As of March 31, 2024, cash and cash equivalents were $8.0 million, down from $20.3 million as of June 30, 2023 [125]. - The company plans to operate the Small-Scale Facility and progress customer qualification over the next 12 months, which will require additional capital [127]. - The company has a minimum cash covenant of $7.5 million under the Amended and Restated Note Purchase Agreement, and failure to secure additional financing may lead to default [128]. - The company intends to explore various financing strategies, including equity or debt financing, to support business growth [129]. - An equity distribution agreement was entered into on March 28, 2024, allowing for the sale of up to $15 million of common stock [131]. - The company had purchase order commitments of $4.7 million for construction works in progress and equipment [138]. - The company has not generated revenues since inception and relies on equity financing and equity-linked debt instruments for funding [125].

5E Advanced Materials, Inc. (FEAM) has stated that its operations team successfully commissioned the 5E Boron Americas Complex and began full commercial operations. The company started well-field injection on Jan 1, 2024.The 5E Boron Americas Complex is operating after completing its commissioning.  External engineering contractors completed the final electrical work on Mar 15. The total amount of Portable Liquid Storage (“PLS”) collected since mining began is more than 50,000 gallons. The inductively coupl ...

HESPERIA, Calif., April 02, 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 commissioned the facility and has launched full commercial operations. The Company began well-field injection on January 1st, 2024. Key Highlights: 5E Boron Americas Complex is fully commissioned a ...

Measurable progress continues towards near-term plant completion Company remains on track to commence commercial operations in CY Q2 2024 at the 5E Boron Americas Complex in California HESPERIA, Calif., Feb. 25, 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, provided an update on mining operations and related activities as it moves closer ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2023 Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) ha ...