Core Viewpoint - Stardust Power Inc. has announced a public offering of common stock expected to raise approximately $4.3 million to support its operations and working capital [1][3]. Group 1: Offering Details - The offering consists of 21,500,000 shares of common stock priced at $0.20 per share [2]. - Aegis Capital Corp. has been granted a 45-day option to purchase up to 15% additional shares to cover over-allotments [2]. - The transaction is expected to close on or about June 18, 2025, pending customary closing conditions [3]. Group 2: Use of Proceeds - The net proceeds from the offering, along with existing cash, will be used for general corporate purposes and working capital [3]. Group 3: Company Overview - Stardust Power Inc. 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 a capacity of up to 50,000 metric tons per annum [6].

Core Insights - Stardust Power Inc. has signed a Memorandum of Understanding (MOU) with Ohio University to collaborate on advanced lithium extraction and refining technologies, particularly focusing on Direct Lithium Extraction (DLE) [1][2][3] - The partnership aims to enhance research on domestic lithium processing innovations, with Stardust Power providing industry expertise and support [2][3] - This collaboration is expected to secure lithium brine feedstock for Stardust Power's lithium refinery in Muskogee, Oklahoma, which is projected to produce up to 50,000 metric tons of battery-grade lithium annually [3][5] Company Overview - Stardust Power is an American developer of battery-grade lithium products, committed to building resilient supply chains to bolster America's energy leadership [5] - The company is focused on sustainability throughout its processes and is publicly traded on Nasdaq under the ticker symbol "SDST" [5] Strategic Goals - The partnership reflects a commitment to workforce development and educational excellence, aiming to cultivate the next generation of engineers and scientists in lithium extraction and advanced battery technologies [4] - The collaboration is positioned to support U.S. energy independence and meet the growing demand for domestic battery materials [4]

Company Overview - Stardust Power aims to secure U S energy leadership through battery-grade lithium production[10] - The company is developing one of the largest lithium refineries in the US, with a planned production capacity of 50,000 metric tons per annum[20,56] - The company has secured approximately 66 acres in Muskogee, Oklahoma, for its lithium refinery[56] Market Opportunity - Lithium demand is expected to increase more than 20-fold due to the growth of electric vehicles[22,82] - By 2030, the U S lithium market is projected to reach 321,000 tons LCE[78] - The global fleet of passenger electric vehicles is expected to increase from 27 million in 2022 to approximately 107 million units in 2026[82] Financials and Incentives - Stardust Power may be eligible for up to $257 million in incentives from the State of Oklahoma[20,65] - The company's trading information as of April 30, 2025, includes 6016 million common shares outstanding and a market capitalization of $3008 million[72] - The Quality Jobs program offers a 5% cash rebate on payroll for new jobs created over 10 years[64,109] Strategy and Partnerships - Stardust Power has signed offtake agreements with GeoLithium and QX Resources, focusing on North American brine sources[52] - The company controls 35,000 acres via a LOI with Usha Resources at the Jackpot Lake Lithium Brine Project in Nevada[52] - The company is taking a vertically integrated approach to limit supply risk and ensure sourcing for refining[52]

Financial Data and Key Metrics Changes - The company is currently pre-revenue and reported cash and cash equivalents of $1.6 million as of Q1 2025, up from $0.9 million as of December 31, 2024 [25] - The accumulated deficit increased to $56.4 million in Q1 2025 from $52.6 million in FY 2024 [26] - The net loss for Q1 2025 was $3.8 million, an increase of $2.4 million year-over-year, with a loss per share of negative $0.07 compared to negative $0.04 in the prior year [26] - Net cash used in operating activities totaled $2.9 million for the quarter, compared to $0.9 million in the prior year [27] Business Line Data and Key Metrics Changes - The company is focused on advancing one of the largest lithium refineries in America, which is designed to be scalable and sustainable [5] - The operational expenses are expected to increase as the company recruits more personnel and sets up the facility [26] Market Data and Key Metrics Changes - Global demand for lithium is projected to more than double by 2030, driven by growth in electric vehicles, energy storage systems, and electrification trends [4] - The U.S. market is experiencing significant volatility due to recent tariffs and China's export restrictions, which has heightened concerns about supply chain disruptions [6] Company Strategy and Development Direction - The company aims to address the critical shortage of domestic refining capacity and is strategically positioned to support U.S. supply chain security and energy independence [5] - Stardust Power is committed to aligning with national initiatives to bolster domestic critical mineral supply chain security [8] - The company is actively engaging with policymakers to support the industry and maximize support for its refinery project [10] Management's Comments on Operating Environment and Future Outlook - Management views current market conditions as a generational opportunity and believes the evolving landscape of U.S. trade policy will benefit domestic operations [6][9] - The company is encouraged by federal support for critical minerals and sees it as a tailwind for their project [36] Other Important Information - The company has secured its general stormwater permit for construction activities and has confirmed that no industrial wastewater permit is required due to its closed-loop system [16][45] - A key service agreement has been executed with Oklahoma Gas and Electric to develop a dedicated electric substation for the planned lithium refinery [18] Q&A Session Summary Question: Timeline for the final report of the engineering study - Management expects to release the final report of the engineering study within the current quarter [31][33] Question: Impact of federal support on green energy initiatives - Management believes that the prioritization of American mineral security under the new administration creates opportunities despite pressures on green energy initiatives [36] Question: Progress on securing feedstock for refining - Management reports significant progress in discussions regarding securing domestic feedstock for refining [43] Question: Outstanding permits needed prior to FID - Management confirmed that they have secured necessary permits to move forward with construction, including stormwater and minor air permits [44][46] Question: Increase in operating cash flow - The increase in operating cash flow is attributed to project development costs and operational cost increases due to going public and additional hires [50][52] Question: DLE equipment pilot facilities - Management noted a ramp-up in upstream activity related to DLE technology and confirmed that they are using proven off-the-shelf technology for their midstream processing facility [56][58] Question: Domestic suppliers of equipment - The company is making efforts to source equipment domestically and has established guardrails to exclude equipment from foreign entities of concern [60]

Financial Data and Key Metrics Changes - The company is currently pre-revenue and has an accumulated deficit of $56.4 million as of Q1 2025, compared to $52.6 million in FY 2024, indicating a significant increase in losses year-over-year [26] - The net loss for Q1 2025 was $3.8 million, which is $2.4 million higher than the previous year, driven primarily by increased general and administrative costs [26] - Cash and cash equivalents increased to $1.6 million in Q1 2025 from $0.9 million at the end of FY 2024, reflecting improved liquidity [25] Business Line Data and Key Metrics Changes - The company has incurred substantial operating losses as it prepares for commercial production of battery-grade lithium, with operating expenses expected to rise as personnel are recruited [26] - Net cash used in operating activities totaled $2.9 million for the quarter, up from $0.9 million in the prior year, indicating increased investment in operations and hiring [27] Market Data and Key Metrics Changes - The macro outlook for lithium remains strong, with global demand expected to more than double by 2030, driven by sectors such as electric vehicles and energy storage [4] - The evolving landscape of U.S. trade policies and tariffs has introduced volatility, but also highlights the strategic advantage of domestic operations for the company [6][9] Company Strategy and Development Direction - The company is advancing one of the largest lithium refineries in America, aimed at addressing the domestic refining capacity shortage and aligning with federal clean energy priorities [5] - The focus is on building a resilient supply chain for critical minerals, with efforts to engage with policymakers and align with national initiatives [10][19] Management's Comments on Operating Environment and Future Outlook - Management views current market conditions as a generational opportunity, emphasizing the importance of domestic lithium production amid geopolitical uncertainties [5][8] - The company is optimistic about the support from the U.S. government for critical minerals, which is expected to benefit its operations and align with national security goals [9][36] Other Important Information - The company has secured necessary permits for construction, including a general stormwater permit, and has confirmed that no industrial wastewater permit is required due to its closed-loop system [15][46] - A key service agreement has been executed with Oklahoma Gas and Electric to develop a dedicated electric substation, ensuring scalable power for the facility [17] Q&A Session Summary Question: Timeline for the final report of the engineering study - The company expects to release the final report of the engineering study within the current quarter [30][33] Question: Impact of federal support on green energy initiatives - Management believes that the prioritization of American mineral security under the new administration creates opportunities that may outweigh pressures on green energy initiatives [34][36] Question: Progress on securing feedstock for domestic supply - The company is well advanced in discussions regarding multiple supply opportunities for lithium feedstock, with a receptive market for domestic refining [44] Question: Outstanding permits needed before construction - The company has made substantial progress on permitting and is permitted to move forward with construction, having received necessary stormwater and minor air permits [45][46] Question: Increase in operating cash flow - The increase in operating cash flow is attributed to project development costs and operational cost increases related to going public and additional hires [51][52] Question: DLE equipment pilot facilities - The company has observed a ramp-up in upstream activity related to DLE technology and is using proven off-the-shelf technology for its midstream processing facility [56][58] Question: Sourcing of equipment and technology - The company is making efforts to source equipment domestically and has established guardrails to exclude equipment from foreign entities of concern, while some machinery may still be sourced from friendly jurisdictions [60]

Lithium Refinery Development - Stardust Power is developing a large-scale lithium refinery in Oklahoma to supply battery-grade lithium primarily for the electric vehicle market [171]. - The company plans to construct a refinery with a phased approach, starting with a production line of up to 25,000 metric tons per annum, with a second line to increase total capacity to 50,000 metric tons per annum [193]. - The total refinery cost is estimated at $1,165 million, with plans to finance through a mix of debt, equity, and potential government grants [232]. Financial Performance and Funding - The company has not generated any revenue since inception and has been operating at a loss, with a net loss of $3,809,700 for the three months ended March 31, 2025, compared to a net loss of $1,399,213 for the same period in 2024 [217]. - General and administrative expenses increased significantly to $5,748,648 for the three months ended March 31, 2025, up from $1,235,366 in the same period of 2024, reflecting an increase of $4,513,282 [217]. - The company has an accumulated deficit and has not earned any revenue since inception, raising concerns about its ability to continue operations without additional capital [252]. - The company anticipates funding its near-term operations through the sale of equity securities, promissory notes, and debt financing [233]. - For the three months ended March 31, 2025, net cash used in operating activities was $2,875,187, a significant increase from $934,680 in the same period of 2024 [246][247]. - The Company reported net cash provided by financing activities of $4,511,080 for the three months ended March 31, 2025, primarily from a public offering that raised $5,750,400 [250]. Agreements and Partnerships - Stardust Power executed a non-binding letter agreement with Sumitomo for a long-term offtake agreement to supply 20,000 metric tons of lithium carbonate annually, with potential for increase [182]. - The company is in the process of negotiating with multiple suppliers for brine feedstock, including producers from the oil and gas industry, to source raw materials for lithium production [203]. - The Company entered into a consulting agreement with DRE Chicago LLC for $500,000 and a loan of $250,000 at 15% interest, maturing in March 2025, with an equity kicker of $375,000 in Common Stock [268]. - A binding term sheet was established with Endurance Antarctica Partners II, LLC for a loan of $1,750,000 at 15% interest, maturing in March 2025, along with $3,500,000 in Common Stock as an equity kicker [269]. Compliance and Regulatory Issues - The company received notices from Nasdaq regarding non-compliance with listing standards due to market value and bid price issues [186]. - The company has a 180-day compliance period until September 15, 2025, to regain compliance with Nasdaq's Minimum Price Rule, requiring a minimum bid price of $1.00 per share for 10 consecutive business days [187]. - The company also has until September 30, 2025, to comply with the MVLS Rule, which requires a market value of publicly held shares to close at $50,000,000 or more for 10 consecutive business days [189]. Investments and Equity - The company invested $1.6 million in IRIS Metals Limited, acquiring approximately 6% of its total equity, to explore strategic partnerships [181]. - The company issued 3,981 shares of common stock during the three months ended March 31, 2025, generating net proceeds of $15,922 [238]. - The fair value of the Company's Common Stock is determined based on third-party appraisals and various market conditions, impacting stock-based compensation measurements [261]. Market and Economic Conditions - The Company is currently facing a volatile inflationary environment, which could impact its financial condition and operations [289]. - The Company is subject to credit risk for cash balances exceeding the FDIC insured amount of $250,000, with only one financial banking institution [288]. - As of March 31, 2025, the Company had no significant risk related to changes in interest rates [287].

Core Viewpoint - Stardust Power Inc. reported its first quarter 2025 results, highlighting operational progress and financial performance amidst macroeconomic challenges, with a focus on advancing towards a Final Investment Decision for its lithium processing facility [2][3]. Operational Highlights - The company is making strategic advancements in permitting, engineering, and financing, aiming to build a scalable lithium refining platform in the U.S. [2] - A key service agreement was executed with Oklahoma Gas and Electric to develop a dedicated substation at the Muskogee refinery site, securing up to 40MW of scalable power [4] - The Muskogee facility confirmed it will not require an industrial wastewater permit due to its closed-loop water system [4] Financial Highlights - As of March 31, 2025, the company had cash and cash equivalents of approximately $1.6 million and zero long-term debt [3] - The net loss for Q1 2025 was $3.8 million, compared to $1.4 million in the same quarter of the previous year, with a loss per share of $(0.07) [5] - Net cash used in operating activities totaled $2.9 million, an increase from $0.9 million in the prior year quarter, driven by investments in operations and hiring [5] - Net cash used in investing activities was $1.0 million, up from $3 thousand in the prior year quarter, reflecting initial capital investments for the refinery [5] - Net cash provided by financing activities was $4.5 million, compared to $54 thousand in the prior year quarter, primarily due to $8.0 million from public offerings [5] Company Overview - Stardust Power is focused on developing battery-grade lithium products to enhance America's energy leadership and build resilient supply chains [6] - The company is developing a lithium processing facility in Muskogee, Oklahoma, with an anticipated production capacity of up to 50,000 metric tons per annum of battery-grade lithium [6]

Core Viewpoint - Stardust Power Inc. has received a significant update regarding its permitting process, confirming that no industrial wastewater discharge permit is required for its lithium processing facility in Muskogee, Oklahoma, due to its closed-loop water system design [1][2][3]. Group 1: Environmental Responsibility - The closed-loop water system utilized by Stardust Power recycles water during the lithium processing, eliminating wastewater discharge to public treatment facilities or natural waterways [2]. - This environmentally responsible design minimizes dependency on municipal water supplies after the initial filling of the facility's tanks and significantly reduces wastewater generation [2][3]. - The CEO emphasized that the facility's design reflects a commitment to environmental stewardship and sustainable solutions that do not heavily demand local water resources [3]. Group 2: Operational Advantages - The absence of a water permit allows for accelerated project timelines, enabling efficient movement through development and expansion phases [3]. - Reduced regulatory compliance costs are another advantage stemming from the permitting determination [3]. - The careful design work preserves municipal potable water for other community uses and minimizes costs associated with purchasing water [3]. Group 3: Progress on Permitting Milestones - Stardust Power has secured the General Permit for Stormwater Discharges from Construction Activities, allowing construction to proceed [4]. - The company has completed its Stormwater Pollution Prevention Plan (SWPPP) to responsibly manage stormwater and protect the environment [4]. - The Minor Source Air Permit is under technical review after being deemed administratively complete by the Oklahoma Department of Environmental Quality [4]. Group 4: Commitment to Sustainability - Stardust Power is dedicated to sustainable lithium manufacturing, using lithium brines as feedstock and prioritizing water conservation throughout its operations [5]. - The company integrates water stewardship into every stage of its operations, meeting or exceeding regulatory standards while maximizing water reuse and recycling [5]. - The CEO highlighted the importance of building a future-minded supply chain that supports clean energy without compromising community resources [6]. Group 5: Company Overview - Stardust Power is developing a lithium processing facility in Muskogee, Oklahoma, with an anticipated capacity of producing up to 50,000 metric tons per annum of battery-grade lithium [6]. - The company aims to bolster America's energy leadership by building resilient supply chains and trades on the Nasdaq under the ticker symbol "SDST" [6].

Core Viewpoint - Stardust Power Inc. is set to release its first quarter 2025 financial results on May 14, 2025, and will host a conference call to discuss these results [1]. Company Overview - Stardust Power Inc. is an American developer of battery-grade lithium products aimed at enhancing America's energy leadership through resilient supply chains [3]. - The company is developing a lithium refinery in Muskogee, Oklahoma, with an expected production capacity of up to 50,000 metric tons per annum of battery-grade lithium [3]. - Stardust Power emphasizes sustainability throughout its production process [3]. - The company is publicly traded on the Nasdaq under the ticker symbol "SDST" [3]. Conference Call Details - The conference call will take place at 5:30 PM ET on May 14, 2025, hosted by the CEO and CFO [1]. - Participants can access the call through a registration link to receive dial-in information and a unique PIN [2]. - A live audio webcast will also be available for those who wish to listen in [2].

Core Viewpoint - Stardust Power Inc. has appointed Mr. Carlos Urquiaga as Senior Advisor to guide the company through critical stages, particularly in capital raising and achieving Final Investment Decision (FID) for its lithium production initiatives [1][4][5]. Company Overview - Stardust Power Inc. is an American developer focused on battery-grade lithium products, aiming to enhance America's energy leadership by establishing resilient supply chains [6]. - The company is developing a lithium refinery in Muskogee, Oklahoma, with an expected production capacity of up to 50,000 metric tons per annum of battery-grade lithium [6]. Appointment of Carlos Urquiaga - Mr. Urquiaga brings over 30 years of experience in the metals and mining, energy, and infrastructure sectors, with a specialization in capital raising and financial advisory services [2]. - He has successfully delivered over $40 billion in financing and advisory transactions throughout his career, including significant projects in the electric vehicle battery materials supply chain [2][3]. - His previous roles include senior leadership positions at BNP Paribas, Citi, and Appian Capital, where he was involved in high-value transactions such as Teck's Quebrada Blanca Phase 2 project and Freeport's Cerro Verde expansion [3]. Strategic Focus - As Senior Advisor, Mr. Urquiaga will lead efforts to achieve FID and support capital raising activities through both debt and equity financing [4]. - He will also assist in advancing the company's strategic initiatives to scale lithium production and meet the growing demand for battery-grade materials [4][5].