Investment Thesis - The mineral industry, particularly rare earth minerals and lithium, is highlighted as a capital-intensive market with varying winners [1] - Lithium is identified as a crucial driver for electric vehicle (EV) adoption, with a significant demand forecasted [1] - Standard Lithium (SLI) is recommended as a Strong Buy due to its trading at a discount to future cash flows and potential for growth by 2026 [1] Stock Performance - SLI's stock price has shown a strong uptrend, breaking the $5 level and establishing it as a support level [2] - In comparison to competitors like Lithium Americas (LAC) and Piedmont Lithium (PLLTL), SLI has outperformed, with LAC and PLLTL experiencing declines of 46.2% and 99.84% over five years, respectively [2] - The performance of SLI is attributed to its asset base and the potential of the Smackover Formation [2]

Core Viewpoint - Technip Energies is highlighted as a strong investment opportunity in the oilfield services sector due to its broad revenue base and lack of geographical concentration [1]. Company Overview - Technip Energies operates in the oilfield services industry, providing a diverse range of services that are not limited to specific regions, making it a potentially stable investment choice [1]. Analyst Background - The analysis is conducted by an experienced analyst with over 14 years in stock analysis, focusing on the energy sector for the past 7 years, particularly in oilfield equipment services [1].

惠誉预计，除非产能出现显著且持续的削减，否则2026年锂市场仍将处于供过于求状态。伍德麦肯兹 (Wood Mackenzie)预测，电池级锂化学品的过剩量将在2026年扩大至15.3万吨(以碳酸锂当量计)，并在 2027年进一步增至20.7万吨。在关键拐点上，由于电动车需求滞后及政策不确定性仍在持续，短期供需 平衡取决于供应削减情况。 年初至今，锂相关股票走势分化。加拿大锂矿开发商Standard Lithium(SLI.US)股价上涨近250%， Lithium Americas(LAC.US)和智利矿业化工(SQM.US)等较大生产商也取得了可观涨幅。而美国雅保 (ALB.US)等行业巨头则在锂价疲软和板块波动加剧的背景下表现落后。Global X锂与电池技术ETF年内 累计上涨56%，部分受到关税和贸易战相关消息的推动。 智通财经APP获悉，惠誉预计，尽管锂价已于11月下旬回升至每吨超11,500美元(2025年下半年上涨 38%)，但锂价疲软态势仍将持续至2026年。惠誉补充称，鉴于在一个分散且逐渐成熟的市场中，生产 受到经济、运营和战略等多重复杂因素交织影响，短期内前景仍不明朗。该机构表示，相较于历 ...

Key Points China is canceling old lithium mining licenses, mostly for non-operational mines. Chinese lithium prices spiked on the news, pushing lithium stocks higher today. 10 stocks we like better than Standard Lithium › Shares of Standard Lithium (NYSEMKT: SLI), a Canadian lithium company that produces its white metal from filtering brine primarily in Arkansas, jumped more than 6% in early trading Tuesday. Prices have settled at about a 5% gain as of 11:05 a.m. ET. It all started in China. Imag ...

All figures are in US dollars unless otherwise stated. LEWISVILLE, Ark., Dec. 09, 2025 (GLOBE NEWSWIRE) -- Smackover Lithium, a Joint Venture (“JV”) between Standard Lithium Ltd. (“Standard Lithium” or the “Company”) (TSXV: SLI) (NYSE.A: SLI) and Equinor, is providing an update with respect to the project financing being pursued for the South West Arkansas Project (“SWA Project” or the “Project”). Smackover Lithium has received expressions of interest from three major Export Credit Agencies (“ECAs”), includ ...

PresentationPatrick CunninghamCitigroup Inc., Research Division For our next fireside chat, we have the pleasure of hosting a lithium panel with Lithium Royalty Corp. CEO, Ernie Ortiz; and Standard Lithium's CEO, David Park. So just a brief background. Lithium Royalty Corp. looks to invest in the battery materials space with a focus on lithium companies. Now has 37 royalties in its portfolio. It's had its IPO back in March 2023 and now has, I believe, 4 cash-flowing royalties. And Ernie was previously an i ...

Summary of Standard Lithium and Lithium Royalty Corp Conference Call Company and Industry Overview - **Companies Involved**: Standard Lithium (NYSEAM:SLI) and Lithium Royalty Corp - **Industry Focus**: Lithium and battery materials, particularly for electric vehicles (EVs) and energy storage systems (ESS) Key Points from the Conference Call Standard Lithium Overview - Standard Lithium is a near-commercial lithium company focused on sustainable development of high-grade lithium-ion properties in the U.S. [2] - The company is advancing its Southwest Arkansas project, a $1.5 billion initiative aiming for 22,500 tons of lithium carbonate production, with a target completion date of 2028 [6][7]. Lithium Royalty Corp Overview - Lithium Royalty Corp was established in 2018 and has a portfolio of 37 royalties globally, with a focus on lithium projects [3][4]. - The company raised $150 million during its IPO in March 2023, marking it as the only IPO on the TSX that year [3]. Demand and Market Trends - Lithium demand is projected to grow by 25% in 2026, with potential for 30% growth driven by EVs and ESS [9][11]. - Key indicators for demand health include rising electrolyte prices and seasonal trends in EV sales [9][10]. - Energy storage is expected to account for approximately 27% of the lithium market by the end of the year, with growth rates of 50%-70% anticipated [10]. U.S. Market Dynamics - The U.S. government acknowledges its lag behind China in the battery supply chain and is working to address this issue [15][16]. - Permitting processes are a significant challenge for hard rock mining, but Standard Lithium's projects are on private lands, easing regulatory hurdles [17][18]. Industry Consolidation and Investment - Major energy companies like Equinor are actively involved in lithium projects, indicating a trend of consolidation in the industry [24][26]. - There is a recognition that large public companies are managing cyclical commodity businesses, leading to cost-cutting measures during downturns [28]. Project Milestones and Future Plans - Standard Lithium is finalizing its definitive feasibility study and is in discussions for debt financing and offtake agreements [30][31]. - The company aims to expand production to approximately 150,000 tons per year by 2035, with projects in both Arkansas and East Texas [32][33]. Pricing Trends and Long-term Outlook - Pricing for lithium is expected to be robust in 2026, with potential peak prices ranging from $2,000 to $6,000 per ton [42]. - Long-term pricing needs to be above $18,000 to $20,000 per ton to support new lithium projects [45]. - Standard Lithium maintains a competitive cost structure, with production costs under $6,000 per ton, allowing for resilience in volatile markets [47]. Conclusion - The conference highlighted the growing demand for lithium driven by EVs and energy storage, the strategic partnerships being formed in the industry, and the proactive steps being taken by companies like Standard Lithium to secure their position in the market. The focus on sustainable practices and government support for domestic supply chains is expected to play a crucial role in the future of the lithium industry.

Core Viewpoint - Standard Lithium Ltd is recognized as a promising investment opportunity despite reporting a wider net loss in Q3, with analysts maintaining a positive outlook based on operational advancements and project developments [1][2]. Financial Performance - The company reported a net loss of $6.1 million in Q3, compared to a loss of $4.8 million in the same quarter last year [1]. - Standard Lithium closed the quarter with cash and working capital of $32.1 million and $29.1 million, respectively [3]. Project Developments - A Definitive Feasibility Study for the South West Arkansas (SWA) Project was completed, confirming its cost-effectiveness and potential for commercial-scale development [2]. - Record lithium-in-brine grades were announced for the Franklin Project in East Texas, enhancing its growth prospects [2]. Capital Raising and Future Plans - The company successfully closed a $130 million underwritten public follow-on equity offering to fund capital expenditures for its projects [3]. - The CEO indicated plans to reach Final Investment Decision (FID) at SWA and progress other projects in East Texas, with construction expected to begin in 2026 [4].

Core Insights - Standard Lithium Ltd. is actively participating in multiple investor conferences, showcasing its leadership in the lithium industry [1][2][3] Group 1: Company Participation in Conferences - The company will participate in the virtual Deutsche Bank Lithium and Battery Supply Chain Conference on November 20, 2025, and the virtual Bank of America Critical Materials Conference on November 24, 2025 [1] - David Park, CEO of Standard Lithium, will speak at Citi's Basic Materials Conference in New York City on December 3, 2025, at 10:50 a.m. ET [2] - The company will host one-on-one meetings during these conferences for interested investors [3] Group 2: Company Overview - Standard Lithium is focused on the sustainable development of high-grade lithium-brine properties in the United States, particularly in Arkansas and Texas [4] - The company aims to achieve commercial-scale lithium production through a scalable Direct Lithium Extraction and purification process [4] - The flagship projects are located in the Smackover Formation, a significant lithium brine asset [4]

Industry Insights - Standard Lithium (NYSEMKT: SLI) stock surged 13.5% following positive news regarding lithium demand from China [1] - Ganfeng Lithium Group chairman Li Liangbin predicts a 30% to 40% increase in global lithium demand by 2026 [1][8] - Lithium carbonate contracts on China's Guangzhou Futures Exchange rose 9%, closing at 95,200 yuan ($13,401.28) per metric ton, marking the highest price since June 2024 [3] Price Forecasts - Li Liangbin forecasts lithium prices could reach between 150,000 yuan and 200,000 yuan per ton, suggesting a potential price increase of 58% to 110% due to the anticipated demand growth [4] - If fixed costs remain stable, the profit increase for lithium stocks could be significantly higher [4] Company Status - Standard Lithium has yet to commence mining and selling lithium, with analysts estimating that production will not begin until 2028 [5][8] - Current investment in Standard Lithium is viewed as speculative, given the uncertainty surrounding future lithium prices by the time production starts [6]