Core Insights - Sigma Lithium Corporation reported its first net income of $4.7 million for Q1 2025, marking a significant milestone in its operational performance [5][17] - The company achieved production volumes of 68,308 tonnes, a 26% increase year-over-year, and sales volumes of 61,584 tonnes, a 17% increase year-over-year [6][9] - The company is strategically positioned to enhance cash generation while advancing the construction of Plant 2, which is expected to significantly increase production capacity [5][22] Financial Performance - Revenues for Q1 2025 reached $47.7 million, a 28% increase compared to Q1 2024, despite a slight decline in sales volumes from the previous quarter [9][11] - The cost of sales was reported at $34.2 million, reflecting a 19% increase year-over-year, with a cost of sales per tonne averaging $556 [11][12] - Cash gross margin for Q1 2025 was 35%, down from 42% in Q4 2024, primarily due to higher costs of sales [15] Operational Metrics - The company maintained a cash operating cost of $458 per tonne, which is 9% below the 2025 target of $500 per tonne [12][13] - All-in sustaining cash costs (AISC) averaged $622 per tonne, remaining below the full-year target of $660 per tonne [13] - The average revenue per tonne increased by 10% year-over-year to $774 [8] Production and Expansion Plans - Sigma Lithium expects to reach a total production of 270,000 tonnes for FY25, with ongoing construction of Plant 2 aimed at doubling production capacity to 520,000 tonnes [10][29] - The company is actively pursuing long-term prepayment and offtake agreements to secure financing and support the construction of Plant 2 [19][5] - Civil works at the Plant 2 site are ongoing, with initial equipment deliveries expected in Q3 2025 [22] Balance Sheet and Liquidity - As of March 31, 2025, cash and cash equivalents totaled $31.1 million, a 32% decrease from the previous quarter [18] - The total amount of short and long-term debts was reported at $165.3 million, with net interest paid in Q1 2025 totaling $1.1 million [18]

Core Viewpoint - Sigma Lithium Corporation has demonstrated strong operational performance in Q1 2025, exceeding production and cost targets despite a challenging lithium pricing environment [2][4]. Financial Performance - Production volumes reached 68,308 tonnes, exceeding the target of 67,500 tonnes and representing a 26% increase compared to Q1 2024 [3][4]. - Sales volumes were 61,584 tonnes, marking a 17% increase over Q1 2024 [3]. - Operating cash cost at the plant gate was US$349 per tonne, which is 12% lower than Q1 2024 and 8% better than the FY 2025 target [3][4]. - CIF China cash costs were US$458 per tonne, 17% lower than Q1 2024 and 6% better than the FY 2025 target [3]. - All-in sustaining cost (AISC) was US$622 per tonne, 20% lower than Q1 2024 and flat compared to Q4 2024 [3][4]. - Revenues reached US$47.7 million, a 28% increase over Q1 2024, despite lower lithium pricing [3][4]. - EBITDA was US$10 million, representing a 224% increase over Q1 2024 [3][4]. Community and Government Support - The company received overwhelming support from local communities, with over 2,000 supporters and 91% positive testimonials during public hearings on lithium production [4][6]. - Sigma Lithium has created over 1,700 direct jobs and 20,000 indirect jobs, benefiting more than 21,000 people through social inclusion programs [4][6]. Strategic Positioning - Sigma Lithium operates one of the world's largest lithium production sites, with plans to double production capacity to 520,000 tonnes of lithium oxide concentrate [9]. - The company's strategic location in Brazil, a diplomatically neutral and investor-friendly country, has helped it navigate global trade disruptions [4].