Shares of Sigma Lithium Corporation (SGML) have gained 30.9% over the past four weeks to close the last trading session at $17.73, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. Going by the price targets, the mean estimate of $27.27 indicates a potential upside of 53.8%. The average comprises four short-term price targets ranging from a low of $21.35 to a high of $32.73, with a standard deviation of $5.08. While the lowest e ...

Financial Data and Key Metrics Changes - The company reported revenue of $49 million for Q1 2024, reflecting a realized price of $930 per ton, with operating cash cost per ton at $462, down about 16% sequentially, resulting in a 50% FOB margin [11][33] - Adjusted EBITDA for Q1 was reported at $6 million, with an EBITDA margin of nearly 16%, while excluding provisional implications, EBITDA was assessed at $17 million, reflecting a margin closer to 35% [11][33] - The cash balance at the end of Q1 was $108 million, which supports the funding for expansion projects [14][87] Business Line Data and Key Metrics Changes - The company achieved a production total of over 54,000 tonnes in Q1, with sales of 52,857 tonnes of lithium concentrate [33][58] - The company has been shipping approximately 22,000 tonnes of lithium concentrate materials every 35 days, demonstrating consistent operational performance [4][90] Market Data and Key Metrics Changes - The company achieved a 25% increase in realized prices compared to the previous quarter, with an 11% price increase noted in the last month alone [5][26] - The company is positioned as the second lowest cost producer globally, with a cash cost of $397 per ton [58][86] Company Strategy and Development Direction - The company plans to double production capacity to 520,000 tonnes annually, with a final investment decision made for a fully funded expansion project [1][20] - The company aims to maintain its position as a low-cost, sustainable producer while expanding its operational life to 25 years through increased mineral reserves [1][62] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to deliver on its targets, emphasizing the resilience and reliability of operations despite market headwinds [41][74] - The management highlighted the robust demand for lithium and the need for new production sources to meet future supply requirements, indicating a positive outlook for pricing [10][31] Other Important Information - The company has increased its mineral reserves by 40%, now totaling 77 million tonnes, which supports its long-term operational plans [1][24] - The company has secured trade finance and is confident in its capital structure to support ongoing and future expansion projects [17][40] Q&A Session Summary Question: Can you provide the latest regarding the strategic review and is that currently on pause? - Management confirmed that the strategic review is currently on pause due to a disconnect between perceived fair value and operational strength [76][77] Question: Can you provide updates on the LG arbitration process? - Management reassured that the relationship with LG Group remains strong and positive, with no concerns regarding the arbitration process [78][95] Question: What contributed to the decrease in mining services and consumables costs? - Management explained that improved efficiency in using ferrosilicon and recycling processes contributed to the decrease in costs [97][98] Question: Is the current G&A cost level sustainable going forward? - Management indicated that G&A costs are at a good level and will continue to decrease as productivity initiatives take effect [79][80] Question: How will provisional pricing situations change as the pricing environment improves? - Management noted that as clients experience cost savings from the product, they will be more amenable to final pricing conversations, moving away from provisional pricing [102][111]

Core Insights - Sigma Lithium Corporation reported its financial results for the first quarter of 2024, highlighting significant operational milestones and financial performance improvements [3][4]. Financial Performance - Reported revenue for Q1 2024 was $37.2 million, a slight decrease from $37.7 million in Q4 2023 [5][14]. - Average reported selling price increased to $704 per tonne in Q1 2024, up from $583 per tonne in Q4 2023 [5]. - Adjusted EBITDA for Q1 2024 was $5.9 million, reflecting a margin of 15.8%, compared to $1.3 million in Q4 2023 [9][10]. - Net income for the quarter was a loss of $7.0 million, an improvement from a loss of $9.5 million in the previous quarter [10][26]. Production and Sales Metrics - Lithium concentrate production totaled 54,168 tonnes in Q1 2024, down from 59,938 tonnes in Q4 2023 [5][11]. - Sales volumes for Q1 2024 were 52,857 tonnes, compared to 64,670 tonnes in Q4 2023 [5]. - The company achieved a premium price of $1,290 per tonne for its Quintuple Zero Green Lithium in May 2024, marking an 11% increase from April [6][15]. Operational Developments - The company made a final investment decision to construct a second Greentech plant, which will double production capacity to 520,000 tonnes annually by 2025 [4][12]. - Proven and probable mineral reserves at Grota do Cirilo increased by 40% to 77 million tonnes, extending the operational life to 25 years [4][6]. Cost Management - Reported cash costs for lithium concentrate production averaged $397 per tonne in Q1 2024, down 16% from $462 per tonne in Q4 2023 [8][14]. - The company is on track to meet its cost guidance of $370 per tonne at the plant gate and $420 per tonne FOB [14][20]. Balance Sheet and Liquidity - Sigma Lithium ended Q1 2024 with $108.2 million in cash and cash equivalents, a significant increase from $48.5 million at the end of Q4 2023 [18]. - Total liabilities stood at $201 million, including $89 million in drawn and available liquidity through trade finance lines [18][19].

Financial Data and Key Metrics Changes - The company reported full-year revenues of $135 million, with an average realized price per tonne of $1,321 and a cash cost at the plant of $427 per tonne [84][85] - The adjusted EBITDA for the year was $49 million, reflecting a robust EBITDA margin of 36% after adjusting for non-recurring items [87][93] - The cash position as of March 30 was $109 million, with a net debt increase only modestly between year-end 2023 and March [12][65] Business Line Data and Key Metrics Changes - The company achieved a production of 105,000 tonnes of lithium concentrate in 2023, with a target to double capacity to 520,000 tonnes in Phase 2 expansion [59][65] - The average price for the lithium product was $1,333 per tonne, with a net price of $1,160 per tonne after VAT [76][84] - The company reported a spodumene production of 53,000 tonnes in Q1, down from 59,000 tonnes in Q4, attributed to cultural factors such as Carnival [37][38] Market Data and Key Metrics Changes - The company is positioned as the fourth largest mineral industrial lithium complex globally and the sixth largest producer, including brine and rock [60][70] - The pricing for Q1 shipments is expected to be similar to Q4, with a slight difference of about $100 [44][46] - The company has established a strong market presence, achieving a premium price due to superior metallurgical properties of its product [74][76] Company Strategy and Development Direction - The company aims to close the market cap gap by demonstrating its position as a large-scale producer and focusing on increasing production capacity [72][50] - The strategic focus includes moving downstream into lithium sulfate production, leveraging Brazil's clean and cheap energy resources [18][19] - The company emphasizes sustainability with zero toxic chemicals and zero tailings, positioning itself as a leader in green lithium production [68][81] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to generate free cash flow in subsequent quarters despite a cash position drop in Q1 [5][12] - The management highlighted the importance of maintaining a low-cost structure and operational efficiency to withstand commodity cycle fluctuations [84][108] - The company is committed to building a resilient lithium business and aims to be among the top three producers in the industry soon [50][51] Other Important Information - The company has a long-term debt of approximately $100 million from shareholders, with a focus on managing cash flow effectively [13][15] - The company has achieved significant operational milestones, reaching full production capacity within six months of commissioning [63][74] - The management team owns more than 50% of the company, indicating strong alignment with shareholder interests [59] Q&A Session Summary Question: Is it fair to assess your net cash position in the first quarter is dropping by $30 million? - Management clarified that the cash position was $109 million as of March 30, with drawn but unused trade lines contributing to the cash dynamics [7][8] Question: Can you talk about SG&A expectations for Q1 and Q2? - Management indicated that SG&A was at $42 million, with ongoing efforts to reduce it to a more sustainable level [27][28] Question: Why was spodumene production lower in Q1? - Management attributed the lower production to cultural factors related to Carnival, which affects workforce availability [37][38] Question: What are the preliminary cost estimates for the lithium sulfate project? - Management stated that while they have a study on costs, specific figures could not be disclosed at this time [17][19] Question: How does the company plan to manage operational costs moving forward? - Management emphasized a focus on tightening spending and optimizing operational efficiency to achieve lower costs [34][36]

Sigma Lithium Corporation (NASDAQ:SGML) Q3 2023 Earnings Conference Call November 15, 2023 8:00 AM ET Company Participants Matthew DeYoe - EVP, Corporate Affairs and Strategic Development Ana Cabral Gardner - CEO Conference Call Participants Joel Jackson - BMO Capital Markets Operator Good day, everyone. Welcome to Sigma Lithium's Third Quarter 2023 Earnings Conference Call. Today's call is being recorded and is broadcast live on Sigma's website. [Operator Instructions] Please note, this event is being reco ...

Exhibit 99.2 SIGMA LITHIUM CORPORATION UNAUDITED CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS THREE AND NINE-MONTH ENDED SEPTEMBER 30, 2023 and 2022 (EXPRESSED IN THOUSANDS OF CANADIAN DOLLARS) MANAGEMENT'S RESPONSIBILITY FOR FINANCIAL REPORTING The accompanying unaudited condensed interim consolidated financial statements of Sigma Lithium Corporation (the "Company") are the responsibility of management and have been approved by the Company's Board of Directors (the "Board"). The unaudited condensed ...

Sigma Lithium Corporation (NASDAQ:SGML) Q2 2023 Earnings Conference Call September 5, 2023 10:00 AM ET Ana Cabral Gardner - Chief Executive Officer and Co-Chairperson Ana Cabral Gardner So, here is, again, a video. A picture is a thousand words. We're going to close with a video that [indiscernible] is going to host for us, but here it is. [Technical Difficulty] Oops. Apologize. I have a bit of a technical issue here. Just let me just go back. The second shipment is going to be quite special, because we are ...

GROTA DO CIRILO LITHIUM PROJECT ARAÇUAÍ AND ITINGA REGIONS, MINAS GERAIS, BRAZIL AMENDED AND RESTATED TECHNICAL REPORT Prepared for: Sigma Lithium Corporation Prepared by: Homero Delboni Jr., MAusIMM (CP), HDA Serviços S/S Ltda. Marc-Antoine Laporte, P.Geo, SGS Canada Inc Jarrett Quinn, P.Eng., Consulting Process Engineer Porfirio Cabaleiro Rodriguez, (MEng), FAIG, GE21 Consultoria Mineral Noel O'Brien, FAusIMM, Trinol Pty Ltd. Effective Date: 31 October 2022 Issue Date: 12 June 2023 NI DO IMPORTANT NOTICE ...

SIGMA LITHIUM AWARDED THE ENVIRONMENTAL OPERATING LICENSE WITH UNANIMOUS APPROVAL AND SCALES UP SOCIAL INITIATIVES; FIRST PRODUCTION ON SCHEDULE TO COMMENCE IN APRIL 2023 1 VANCOUVER, CANADA – (April 10, 2023) – SIGMA Lithium Corporation ("Sigma Lithium" or the "Company") (NASDAQ: SGML, TSXV: SGML), dedicated to powering the next generation of electric vehicles with Battery Grade Sustainable Lithium Concentrate ("Green Lithium"), is pleased to announce significant project updates and renewed commitments to ...

Exhibit 99.1 SIGMA LITHIUM CORPORATION MANAGEMENT'S DISCUSSION AND ANALYSIS THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2022 (Expressed in thousands of Canadian dollars, except per share amounts or unless stated otherwise) INTRODUCTION & BACKGROUND This management's discussion and analysis dated as of November 17, 2022 (this "MD&A") of the financial condition and results of operations of Sigma Lithium Corporation ("Sigma Lithium" or the "Company") constitutes management's review of the factors that affected t ...