Financial Data and Key Metrics Changes - The company incurred a net loss of $23.8 million for the year ended December 31, 2024, compared to a net loss of $3.8 million for the prior period [38] - Cash and cash equivalents decreased to $900,000 as of December 31, 2024, from $1.3 million as of December 31, 2023 [37] - Loss per share was $0.55 for the current year compared to $0.09 for the prior period, driven primarily by higher general and administrative costs [39] Business Line Data and Key Metrics Changes - The company is currently pre-revenue and has focused on raising capital and organizing operations, leading to significant operating losses [38] - Net cash used in operating activities totaled $9.7 million for the current fiscal year compared to $3 million for the prior period, driven by continued investment in operations and hiring [39] Market Data and Key Metrics Changes - The global lithium market is experiencing fluctuations, with some experts forecasting a significant surge in prices around 2026 to 2027, aligning with the company's refinery timeline [5] - Demand for lithium is expected to remain strong, driven by applications beyond just the EV market, including energy storage systems and military applications [11] Company Strategy and Development Direction - The company aims to be a North American source for refined lithium, focusing on domestic sourcing and refining capabilities to align with U.S. energy independence goals [8][10] - The company has secured a construction-ready site in Muskogee, Oklahoma, and is progressing with necessary permits to begin construction [13][14] - A strategic partnership with Sumitomo Corporation has been established, outlining a potential long-term supply deal for lithium carbonate [17] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the long-term outlook for lithium, despite current pricing challenges, citing increasing demand across multiple sectors [5][6] - The company is maintaining close connections with policymakers to influence regulatory changes and cultivate strategic alliances [12] - Management reassured stakeholders that the fundamentals of the company remain strong despite recent stock price volatility [30] Other Important Information - The company raised a total of $4.1 million in capital during the quarter, including $3.55 million in debt and $550,000 in a PIPE offering [27] - The company has made significant investments in technology, including exclusive access to KMX's advanced vacuum membrane distillation technology [19] Q&A Session Summary Question: What are the necessary factors needed to see a recovery in lithium pricing? - Management noted that while there is speculation about oversupply and price manipulation, demand for battery-grade lithium is expected to rebound significantly in 2026 and 2027 [48][49] Question: What does the recent development in EV markets mean for the U.S. EV market and domestically produced lithium? - Management indicated that improvements in infrastructure, such as charging systems, will support increased EV adoption and demand for lithium [51] Question: Are there any plans for additional test work with the KMX licensing agreement? - Management confirmed excitement about the KMX agreement and indicated plans for further test work and exploration of additional applications for the technology [56] Question: How will rising freight costs impact operational outlook? - Management explained that creating a North American ecosystem for raw materials and refining could lead to significant savings compared to competitors who transport goods to China [62] Question: Will the KMX technology be used exclusively for lithium brine production? - Management clarified that while the initial focus will be on upstream feedstock concentration, there are opportunities to use the technology across the refining process [68]
Stardust Power Inc.(SDST) - 2024 Q4 - Earnings Call Transcript