In-Depth
Sigma Lithium Corporation provides update on operations

Aerial View of Phase 1 Plant Construction Progress

VANCOUVER — Sigma Lithium Corporation, trying to power electric vehicles with environmentally sustainable and high-purity lithium, provided a corporate update from a reportedly transformative second quarter of 2022.

Sigma Lithium ended the quarter with C$123.3 million in cash and cash equivalents as of June 30, 2022, providing sufficient liquidity to advance the Grota do Cirilo Project into production. Phase 1 construction at the Project remains on track with commissioning expected to begin December 2022.

From Ana Cabral-Gardner, Co-CEO of Sigma Lithium. “We are delighted to have further strengthened our operational team by adding industry-leading executives, rounding out a world-class management team at Sigma Lithium. Having achieved all of our execution milestones to date, delivering a transformational quarter demonstrates the ability of this team to drive us in our successful trajectory to become a global protagonist in lithium minerals for electric vehicle batteries.”

From Calvyn Gardner, Co-CEO of Sigma Lithium: “We are very enthusiastic to have recruited Brian, an exceptional, high-caliber individual who has already made his mark at Allkem (Galaxy Resources) over the past ~6 years as COO. Brian has significant experience in operating integrated lithium processing and mining companies. He has a remarkable track record in driving production growth and scalability, as Sigma Lithium prepares to deliver in rapid succession Phase 1, Phase 2 and Phase 3”.

Sigma Lithium continued to advance construction of the Phase 1 production plant and mine during the second quarter of 2022, maintaining its target of initiating commissioning by the end of 2022 and achieving the following significant milestones:

• General progress of project construction is ~32% compared to a baseline of ~40%.
  • The critical path of project execution and projected project commissioning remain unchanged, with commissioning expected to begin in December.
• Critical areas of detailed engineering including project management, platework, process design and mechanical are 94% complete or greater, as per figure 1 below.
• Other key areas of detailed engineering including structural, electrical and concrete, are 76 – 80% complete.
• Commenced activities to prepare for mining of the Phase 1 deposit, opening the pit (“pre stripping”). The lithium ore to be produced from the mine will be the feedstock of the greentech lithium processing production plant.
• Initiated electromechanical assembly and plant pre-fabrication offsite, with parts arriving for assembly on site in August 2022.