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]

Core Insights - Standard Lithium is receiving support from the U.S. government as it competes with Exxon Mobil to be the first company to produce lithium in Arkansas, which is home to one of North America's largest lithium supplies [1] Company Summary - Standard Lithium aims to establish itself as a leader in lithium production in Arkansas, leveraging government backing to enhance its competitive position against Exxon Mobil [1] Industry Summary - The lithium industry is experiencing heightened interest due to the increasing demand for lithium, particularly for electric vehicle batteries, positioning Arkansas as a significant player in North America's lithium supply chain [1]

Financial Data and Key Metrics Changes - For the third quarter ended September 30, 2025, the company reported a net loss of $6.1 million, compared to a loss of $4.8 million during the same quarter in 2024 [12] - General and administrative expenses increased by $0.3 million, primarily due to higher employee-related expenses as the company expands its team [12] - Share-based compensation expense rose by $0.9 million, reflecting a focus on aligning employee compensation with share performance [13] - The company ended the quarter with cash and working capital positions of $32.1 million and $29 million, respectively [14] Business Line Data and Key Metrics Changes - The Southwest Arkansas (SWA) project is expected to have an initial production capacity of 22,500 tons per annum of battery-quality lithium carbonate, with proven reserves of 447,000 LCE tons over a 20-year operating life [3] - The DFS for the SWA project indicates a 20.2% unlevered pre-tax IRR and competitive average operating costs of about $4,500 per ton [4] - The Franklin project in East Texas has an inferred resource report highlighting 2.2 million tons LCE of lithium at an average grade of 668 milligrams per liter [5] Market Data and Key Metrics Changes - The company closed an underwritten public offering of 29.9 million common shares at a price of $4.35 per share, generating gross proceeds of approximately $130 million [6] - The company received strong support from institutional investors, indicating confidence in its strategy and asset quality [6] Company Strategy and Development Direction - The company aims to reach production of over 100,000 tons of lithium chemicals per year in Texas through multiple projects [5] - The company is focused on securing project financing and customer offtake agreements, targeting approximately $1 billion in debt for the SWA project [11] - The company is positioned to play a leading role in developing a domestic lithium supply chain in the United States [17] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the critical milestones achieved in the third quarter and expects to provide updates on project financing and vendor selection [18] - The company is preparing for construction to commence shortly after reaching the final investment decision (FID) in early 2026, with first production targeted for the second half of 2028 [11] Other Important Information - The company appointed Michael Lutgren as General Counsel to strengthen its leadership team [6] - The company is working closely with the DOE on an environmental assessment required for a $225 million grant [10] Q&A Session Summary Question: How does the $40 million FID payment structure work? - The payment is triggered as soon as the JV board decides to take FID and move forward with the SWA or East Texas projects, with Equinor owing Standard Lithium $40 million upon FID approval [23] Question: If the FID is made and later changes, does the company still receive the $40 million? - Yes, the company would still receive the $40 million upfront as long as FID is taken, although it is unlikely the company would back out after making the decision [24]

Financial Data and Key Metrics Changes - For the third quarter ended September 30, 2025, the company reported a net loss of $6.1 million, compared to a loss of $4.8 million during the same quarter in 2024 [12] - General and administrative expenses increased by $0.3 million, primarily due to higher employee-related expenses as the company expands its team [12] - Share-based compensation expense rose by $0.9 million, reflecting a focus on aligning employee compensation with share performance [13] - The company ended the quarter with cash and working capital positions of $32.1 million and $29 million, respectively [14] Business Line Data and Key Metrics Changes - The South West Arkansas (SWA) Project is expected to have an initial production capacity of 22,500 tons per annum of battery-quality lithium carbonate, with proven reserves of 447,000 LCE tons over a 20-year operating life [3] - The DFS for the SWA project indicates a 20.2% unlevered pre-tax IRR and competitive average operating costs of about $4,500 per ton [4] - The Franklin Project in East Texas has an inferred resource report highlighting 2.2 million tons LCE of lithium at an average grade of 668 mg/L [5] Market Data and Key Metrics Changes - The company closed an underwritten public offering of 29.9 million common shares at a price of $4.35 per share, generating gross proceeds of approximately $130 million [6] - The company received strong support from institutional investors, underscoring confidence in its strategy and asset quality [6] Company Strategy and Development Direction - The company aims to reach production of over 100,000 tons of lithium chemicals per year in Texas through multiple projects [5] - The company is focused on advancing towards a final investment decision (FID) for the SWA project, with construction expected to commence in 2026 and first production targeted in 2028 [4][11] - The company is also working on expanding its leasehold footprint in East Texas and moving towards a preliminary feasibility study for the Franklin Project [8] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the critical milestones achieved in the third quarter and the strong positioning of the company in the domestic lithium supply chain [17] - The company is actively working on project financing and customer offtake processes, with a goal to finalize these before year-end [18] Other Important Information - The company appointed Michael Lutgring as General Counsel to strengthen its leadership team [6] - The company is in the final stages of selecting contractors for the construction of its central processing facility and well field [10] Q&A Session Summary Question: How does the $40 million FID payment structure work? - The payment is triggered as soon as the JV board decides to take FID and move forward with the SWA or East Texas projects, with Equinor owing Standard Lithium $40 million upon FID approval [22] Question: If the FID is made and later changes, does Standard Lithium still receive the $40 million? - Yes, the payment is secured upon taking FID, and it is unlikely that the company would back out after making the decision [23]

Financial Data and Key Metrics Changes - For Q3 2025, the company reported a net loss of $6.1 million, compared to a loss of $4.8 million in Q3 2024, indicating an increase in losses year-over-year [13] - General and administrative expenses increased by $0.3 million, primarily due to higher employee-related expenses as the company expands its team [13] - Share-based compensation expense rose by $0.9 million, reflecting a focus on aligning employee compensation with share performance [13] Business Line Data and Key Metrics Changes - The Southwest Arkansas (SWA) project is expected to have an initial production capacity of 22,500 tons per annum of battery-quality lithium carbonate, with a total of 447,000 tons of lithium carbonate equivalent (LCE) over a 20-year operating life [3][4] - The DFS for the SWA project shows a 20.2% unlevered pre-tax internal rate of return (IRR) and competitive average operating costs of about $4,500 per ton [4] - The Franklin project in East Texas has an inferred resource report indicating 2.2 million tons of LCE at an average grade of 668 milligrams per liter, marking a significant resource position [5] Market Data and Key Metrics Changes - The company closed an underwritten public offering of 29.9 million common shares at $4.35 per share, generating gross proceeds of approximately $130 million, indicating strong institutional support [6] - The cash position at the end of Q3 was $32.1 million, which does not include the proceeds from the recent offering [15][16] Company Strategy and Development Direction - The company aims to reach production of over 100,000 tons of lithium chemicals per year in Texas through multiple projects, emphasizing its growth beyond a single project [5] - The company is focused on securing project financing and customer offtake agreements, with a target of approximately $1 billion in debt financing for the SWA project [12][17] - The leadership team was expanded with the appointment of Michael Lutgren as General Counsel, enhancing the company's capabilities [6] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the project's progress and the importance of achieving key milestones before the final investment decision (FID) [10][19] - The company is optimistic about the domestic lithium supply chain development, as highlighted by the Arkansas Lithium Innovation Summit [18] - Management expects to provide updates on project financing and vendor selection in the coming months, with construction targeted to start shortly after FID in early 2026 [19] Other Important Information - The company received unanimous approval for its integration application from the Arkansas Oil and Gas Commission, a critical step for the SWA project [10] - The company is working closely with the DOE on an environmental assessment required for a $225 million grant [11] Q&A Session Summary Question: How does the $40 million FID payment structure work? - The payment is triggered as soon as the JV board decides to take FID for the SWA or East Texas projects, with Equinor owing Standard Lithium $40 million upon FID approval [24] Question: If FID is made and later changes, does the company still receive the $40 million? - Yes, the company would still receive the $40 million upfront as long as FID is taken, although it is unlikely the company would back out after making the decision [25]

Core Viewpoint - Standard Lithium Ltd. has reported significant progress in its projects, including the release of a Definitive Feasibility Study (DFS) for the South West Arkansas (SWA) Project and a Maiden Inferred Resource for the Franklin Project in East Texas, indicating strong potential for future lithium production [2][5][8]. Financial and Operational Highlights - The SWA Project is projected to have an initial production capacity of 22,500 tonnes per annum of battery-quality lithium carbonate, with proven reserves of 447,000 tonnes of lithium carbonate equivalent (LCE) [4]. - The DFS for the SWA Project indicates a 20.2% unlevered pre-tax internal rate of return (IRR) and competitive average cash operating costs of $4,516 per tonne, with all-in costs estimated at $5,924 per tonne [8]. - The company completed a $130 million follow-on equity offering, which was oversubscribed, demonstrating strong institutional investor demand [6][5]. Project Developments - The SWA Project has received unanimous approval from the Arkansas Oil and Gas Commission (AOGC) for its Integration Application, which is crucial for the project's development [5]. - The Franklin Project in East Texas has reported some of the highest lithium-in-brine grades in North America, with an inferred resource of 2.2 million tonnes of LCE at an average lithium grade of 668 mg/L [11]. - The company aims to reach a Final Investment Decision (FID) for the SWA Project and begin construction in 2026, with first production targeted for 2028 [2][8]. Future Outlook - The company plans to provide multiple updates in the coming months regarding project financing, customer offtake processes, and vendor selection for the SWA Project [2]. - The company is focused on sustainable, commercial-scale lithium production through a fully integrated Direct Lithium Extraction process [12].

Company Overview - Standard Lithium aims to be a leading low-cost, sustainable U S lithium producer [22] - The company plans for near-term commercial-scale production using innovative technologies on its Arkansas and Texas assets [24] - The company is developing projects with global partners, benefiting from stakeholder and regulatory support [26] Resource and Project Highlights - The Smackover Formation is a premier lithium resource in North America, with concentrations up to 616 mg/L in Arkansas and 806 mg/L in East Texas [27] - The South West Arkansas (SWA) Project has been awarded a $225 million grant from the U S Department of Energy (DOE) [27] - The SWA Project is targeting commercial production in 2028, with an initial capacity of 22,500 tonnes per annum (TPA) of lithium carbonate [30, 38] - The East Texas Projects have the potential for over 100,000 TPA LCE production across three projects [38] Market and Economics - Global lithium demand is projected to reach 2.8 million tonnes of lithium carbonate equivalent (LCE) by 2030 [27] - The SWA Project DFS indicates a $1.7 billion unlevered pre-tax NPV and a 20% pre-tax IRR, with a total CAPEX of $1.449 billion [40]

Core Viewpoint - Smackover Lithium, a joint venture between Standard Lithium and Equinor, has filed its Maiden Inferred Resource report for the Franklin Project in Texas, highlighting significant lithium and other mineral resources [1][3]. Resource Summary - The Franklin Project contains 2,159,000 metric tonnes of lithium carbonate equivalent with an average lithium concentration of 668 mg/L, along with 15,414,000 tonnes of potash and 2,638,000 tonnes of bromide [3]. - The project area spans approximately 80,000 acres, with over 46,000 acres leased to support the inferred resource, showcasing the highest reported lithium-in-brine grades in North America [4]. Production Goals - The ultimate goal is to achieve production of over 100,000 tonnes of lithium chemicals per year in Texas, supported by two additional projects that are expected to triple the size of the joint venture's portfolio in the state [5]. Next Steps - Recommendations include further refining the characteristics of the Upper and Middle Smackover Formation aquifers and conducting additional drilling to define a Preliminary Feasibility Study [6]. - Direct lithium extraction testing will be conducted using insights from Standard Lithium's Demonstration Plant in Arkansas [7]. Company Background - Smackover Lithium is a joint venture formed in May 2024, with Standard Lithium holding a 55% interest and Equinor 45%, focusing on developing multiple direct lithium extraction projects in Southwest Arkansas and East Texas [10]. - Standard Lithium is a leading lithium development company focused on sustainable production from high-grade lithium-brine properties in the U.S., particularly in the Smackover Formation [11].