GREENWICH, Conn., Nov. 04, 2025 (GLOBE NEWSWIRE) -- Stardust Power Inc. (NASDAQ: SDST) (“Stardust Power” or the “Company”), an American developer of battery-grade lithium carbonate, today announced that it will release its third quarter 2025 financial results after market close on Thursday 13 November, 2025. Roshan Pujari, Founder and Chief Executive Officer and Uday Devasper, Chief Financial Officer will host a conference call at 5:30pm ET on Thursday 13 November, 2025 to discuss the Company’s results. Par ...

GREENWICH, Conn., Nov. 03, 2025 (GLOBE NEWSWIRE) -- Stardust Power Inc. (NASDAQ: SDST) (“Stardust Power” or the “Company”) an American developer of battery-grade lithium carbonate, announced today that it has entered into a Letter of Intent (“the Agreement”) with Mandrake Resources Limited to secure 7,500 metric tons per annum of lithium carbonate equivalent (“LCE”) in the form of lithium chloride from Mandrake’s Utah Lithium Project (“Utah” project). The lithium chloride will feed directly into Stardust Po ...

Core Points - Stardust Power Inc. has received confirmation from Nasdaq that it is in compliance with continued listing requirements as of October 28, 2025 [1][2] - The company was previously set to appeal a non-compliance determination, but this hearing has been canceled, and the matter is now resolved [2] - Stardust Power is progressing towards a Final Investment Decision for one of America's largest lithium refineries, enhancing its project execution [3] Company Overview - Stardust Power is focused on developing battery-grade lithium carbonate to strengthen America's energy security through resilient supply chains [4] - The company is constructing a lithium processing facility in Muskogee, Oklahoma, with a projected capacity of up to 50,000 metric tons per annum of battery-grade lithium carbonate [4] - Sustainability is a core commitment throughout the company's operational processes [4]

Core Insights - Momentum investors are attracted to fast-growing stocks, particularly in the biopharmaceuticals industry, which presents significant growth potential [2][3] Group 1: uniQure N.V. (NASDAQ: QURE) - uniQure has seen a significant share price increase, with a current price of $59.91 and a 12-month price forecast of $71.75, indicating a 19.76% upside potential [3][5] - The company is known for its adeno-associated viral (AAV) vector platform and has promising drug candidates, including AMT-130 for Huntington's disease and AMT-260 for epilepsy [3][4] - As of Q2, uniQure had $377 million in cash, providing operational runway into 2027 [4] Group 2: Omeros Corp. (NASDAQ: OMER) - Omeros experienced a price spike in mid-October after Novo Nordisk acquired licensing rights to its drug Zaltenibart for $240 million, with a 12-month price forecast of $27.50, representing a 255.30% upside [6][8] - The current price is $7.74, with analysts rating it a Moderate Buy based on 8 ratings [7][9] - Despite a recent price drop, analysts remain optimistic, projecting a potential upside of nearly 244% [9] Group 3: Stardust Power Inc. (NASDAQ: SDST) - Stardust Power, a micro-cap battery tech firm, has a current price of $4.52 and a 12-month price forecast of $51.13, indicating a potential upside of 1,031.08% [10][12] - The company has secured agreements to develop an electric substation and to secure lithium carbonate, which positions it for growth amid rising domestic demand [10][11] - Analysts are bullish, with four out of six rating it a Buy, reflecting confidence in its future prospects [12]

Core Viewpoint - Stardust Power Inc. has signed a Letter of Intent with Prairie Lithium to secure a supply of 6,000 metric tons per annum of lithium carbonate equivalent, which is crucial for the company's lithium processing operations in Oklahoma and supports its growth strategy [1][2][7]. Supply Agreement Details - The supply agreement with Prairie Lithium will provide a near-term feedstock that accelerates Stardust Power's business model and reduces risks associated with the development of Phase 1 [2][7]. - The agreement allows for flexibility in future phases to incorporate multiple chloride sources as production scales [2]. - Initial deliveries are expected to start in 2027, with the potential to scale up to 6,000 metric tons per annum, and Prairie Lithium has identified a production capacity of up to 17,000 metric tons per annum [3][7]. Strategic Location and Infrastructure - Feedstock will be delivered to the Port of Muskogee's Free Trade Zone, which offers strategic access to transportation networks and potential tariff exemptions [3]. - The Prairie Lithium Project is located in a resource-rich area with access to critical infrastructure, including electricity, water, and transportation [5][9]. Operational and Financial Implications - The agreement enhances Stardust Power's commercial position and opens new financing opportunities, including project-level debt and equity [7]. - The company is advancing in permitting and construction, with ground already broken at the Muskogee site, indicating strong operational execution [7]. Commitment to Sustainability - Stardust Power emphasizes its commitment to sustainability and aims to bolster North America's energy security through resilient supply chains [8][9]. - Prairie Lithium's project is designed to minimize environmental impact by using less freshwater and land, aligning with sustainable lithium production goals [9].

Core Insights - Stardust Power Inc. has appointed Mr. Kenneth Pitts as Construction and Subcontracts Director, emphasizing its commitment to the Muskogee Project and progress towards Phase 1 construction [1][3][5] Company Overview - Stardust Power is focused on developing battery-grade lithium carbonate to enhance America's energy security, with a lithium processing facility in Muskogee, Oklahoma, expected to produce up to 50,000 metric tons per annum [8] Leadership and Experience - Mr. Pitts brings over 25 years of experience in managing complex projects in various sectors, including oil and gas and critical minerals, and has a strong track record in multinational project delivery [4][7] - His previous roles include senior leadership positions at notable companies such as Neom Company and Fluor Corporation, where he managed large-scale project delivery and subcontract execution [7] Project Management - In his new role, Mr. Pitts will oversee major onsite projects at the Muskogee refinery, ensuring they are delivered safely, on schedule, and within budget [3][5] - The company has established a highly experienced owner's team to manage one of the largest lithium refineries in the United States, positioning itself for successful project execution [6]

Core Insights - Premarket trading is showing notable activity with significant price movements indicating potential trading opportunities before the market opens [1] Premarket Gainers - SHF Holdings, Inc. (SHFS) increased by 150% to $8.17 - Lithium Americas Corp. (LAC) rose by 69% to $5.18 - Aqua Metals, Inc. (AQMS) gained 50% reaching $6.11 - CleanCore Solutions, Inc. (ZONE) up by 44% at $2.87 - Cyclerion Therapeutics, Inc. (CYCN) increased by 33% to $4.03 - Twin Vee Powercats Co. (VEEE) rose by 17% to $2.92 - Solidion Technology, Inc. (STI) up by 11% at $5.09 - China Pharma Holdings, Inc. (CPHI) increased by 11% to $2.18 - Stardust Power Inc. (SDST) rose by 10% to $3.04 - Aligos Therapeutics, Inc. (ALGS) increased by 7% to $11.03 [3] Premarket Losers - Aytu BioPharma, Inc. (AYTU) decreased by 15% to $2.11 - Professional Diversity Network, Inc. (IPDN) down by 13% to $4.10 - STRATA Skin Sciences, Inc. (SSKN) fell by 10% to $2.31 - Cohu, Inc. (COHU) decreased by 9% to $20.68 - Super League Enterprise, Inc. (SLE) down by 9% to $7.74 - CTW Cayman (CTW) fell by 9% to $2.29 - Fitell Corporation (FTEL) decreased by 8% to $7.70 - Soluna Holdings, Inc. (SLNH) down by 8% to $2.16 - StableX Technologies, Inc. (SBLX) decreased by 5% to $5.22 - Indaptus Therapeutics, Inc. (INDP) down by 5% to $2.95 [4]

Core Insights - Stardust Power Inc. has successfully completed the FEL 3 report for its lithium processing facility in Muskogee, Oklahoma, marking a significant milestone in the project's development [1][3] Project Overview - The FEL 3 report includes advanced design optimizations aimed at improving efficiency, reducing costs, and enhancing overall project economics [2] - Phase 1 of the project is planned to produce 25,000 metric tons per annum (mtpa) of battery-grade lithium, with capital expenditures estimated at approximately $500 million, which is nearly $200 million below initial estimates [2][5] - The construction timeline is expected to be around 24 months from the start of major work to mechanical completion [5] Technical Advancements - The FEL 3 report features a comprehensive 3D process model and detailed cost estimates for construction and operations, leading to improved capital and operating cost forecasts compared to previous studies [3] - Contingency costs have been reduced from 40% in earlier phases to a significantly lower level, reflecting increased project definition and confidence [3] Strategic Importance - The completion of the FEL 3 positions Stardust Power closer to a Final Investment Decision (FID), which is crucial for launching Phase 1 of the construction [4][6] - The Muskogee facility is designed to produce up to 50,000 mtpa of battery-grade lithium carbonate at full capacity, making it one of the largest lithium refineries in the U.S. and a key contributor to the country's energy security [4][7] Commitment to Sustainability - The facility is designed with a focus on minimizing air emissions, recycling water, and safely managing by-products, aiming for zero liquid discharge [4] - The project is expected to create hundreds of well-paying jobs in engineering, construction, and operations, with a commitment to hiring locally in Muskogee and Oklahoma [4][6]

Core Viewpoint - Stardust Power Inc. is executing a 1-for-10 reverse stock split to regain compliance with Nasdaq listing requirements and enhance access to capital markets, which is crucial for advancing its U.S. lithium refining project [2][3][4]. Group 1: Reverse Stock Split Details - The reverse stock split will take effect on September 8, 2025, at 12:01 a.m. Eastern Time, with every ten shares combined into one share, reducing the number of outstanding shares to approximately 8,458,975 [3]. - The par value per share remains unchanged at $0.0001, and no fractional shares will be issued; instead, stockholders entitled to a fractional share will receive a cash payment [3]. Group 2: Strategic Importance - The reverse stock split is intended to strengthen the company's credibility with institutional investors and provide ongoing liquidity for shareholders, aligning with its long-term strategy for funding and advancing its lithium refining project [2][4]. - This action is not indicative of the company's fundamentals but is a strategic measure to ensure broader access to long-only institutional investors [4]. Group 3: Future Milestones - Stardust Power anticipates several key milestones, including the completion of Front-End Loading (FEL) 3 engineering work, advancement in permitting, securing project financing for the Phase 1 capital expenditure, and commencing heavy construction on the lithium processing facility in Muskogee, Oklahoma [5]. - Each of these milestones represents operational progress and potential value inflection points for shareholders, reinforcing the company's mission to establish a secure domestic supply of battery-grade lithium in North America [5]. Group 4: Company Overview - Stardust Power is focused on developing battery-grade lithium products to enhance America's energy leadership and is building a lithium processing facility in Muskogee, Oklahoma, with an anticipated capacity of producing up to 50,000 metric tons per annum [7].

Financial Data and Key Metrics Changes - As of Q2 2025, the company had cash and cash equivalents of $2.6 million, up from $0.9 million as of June 30, 2024 [31] - The company incurred a net loss of $3.7 million in Q2 2025, which was an increase of $1 million year-over-year [32] - The accumulated deficit increased to $60.1 million in Q2 2025 from $52.6 million in Q2 2024 [32] - Loss per share improved to $0.06 for Q2 2025 compared to $0.07 in the prior year quarter [32] Business Line Data and Key Metrics Changes - The company remains pre-revenue, with significant operating losses due to ongoing capital expenditures and operational investments [31][32] - Net cash used in operating activities increased to $4.5 million for the six months ended June 30, 2025, compared to $2.1 million in the prior year [33] - Net cash used in investing activities was $2.2 million for the same period, driven by initial capital investments for the refinery [33] Market Data and Key Metrics Changes - Lithium carbonate spot prices have stabilized, with a rebound of over 7% in July 2025, supported by tightening global supply expectations and stronger downstream investment [7] - The demand for lithium is driven by electric vehicles and energy storage systems, reinforcing long-term demand fundamentals [8] Company Strategy and Development Direction - The company aims to become a leading US refiner of battery-grade lithium, addressing the gap in domestic refining capacity [10][11] - The strategic focus includes centralizing and converting multiple streams of lithium brine into high-purity products on US soil [10] - The company is advancing efforts to secure inputs from multiple lithium brine developers across North and South America [19] Management's Comments on Operating Environment and Future Outlook - The macro environment for lithium is strengthening, with the US prioritizing energy independence and domestic supply chain resilience [6] - Recent geopolitical developments, including export controls from China, are reshaping the global lithium landscape and increasing the urgency for domestic capabilities [12][13] - The company is optimistic about federal support for strategic lithium infrastructure, which is crucial as lithium demand accelerates [17] Other Important Information - The company successfully raised $4.52 million in gross proceeds through a public offering in June 2025, which was used to fund the FEL III engineering study [29] - The company is actively evaluating options to address NASDAQ compliance matters, including potential reverse stock splits [34] Q&A Session Summary Question: Impact on brine supply availability for Phase One plant - Management acknowledged changes in the market, noting that while some projects have not advanced, there remain ample opportunities for upstream supply [38][40] Question: Conversations with the US government regarding financing - Management confirmed ongoing engagement with the government and applications for federal and state opportunities, expressing confidence in achieving material results [41][43] Question: Plans to address NASDAQ listing issues - The CFO indicated that there is about a month left to address the initial deficiency and mentioned the approval for a reverse stock split as one of the options [44][45]