SIGMA Lithium Resources caps a “transformative” 2020 with sights on a major US stock exchange listing

SIGMA Lithium Resources caps a “transformative” 2020 with sights on a major US stock exchange listing

SIGMA Lithium Resources Corporation (CVE:SGMA) (OTCQB:SGMLF ) has revealed that it is currently holding C$46.3 million in cash and announced plans to list its common shares on a major US stock exchange, as the company continues to advance its wholly-owned Grota do Cirilo lithium project in Brazil. The company noted that during a “transformative” 2020, it further demonstrated its development, commercial and market relevance by significantly advancing its strategic goals on three fronts: near-term production at its Grota do Cirilo project scheduled for 2022; studying the viability of production expansion contemplated for 2023; and the determination of the ultimate extent and unique high-purity quality of Grota do Cirilo’s mineral resources. During the past year, SIGMA said it completed all critical field-based pre-construction activities at Grota do Cirilo within scheduled and budgeted parameters, with the release of pre-feasibility study outlining the viability of Phase 2 production planned for June. READ: Lithium – 2020 a year to forget but 2021 panning out to be a year to remember The company noted that it expects Phase 1 production of lithium carbonate equivalent (LCE), or what it calls ‘green’ battery-grade lithium, to begin in the summer of 2022. As well, SIGMA said it plans to resume drilling and related geological activities at Grota do Cirilo as it seeks to significantly increase the mineral resource estimate there. The company also noted it has sufficient liquidity, as a result of its 2020 and 2021 equity financings, to cover the entire equity component of the necessary project financing for construction and to finance all ongoing workstreams. SIGMA said it plans to achieve net-zero carbon emission targets by 2023, partly as a result of its Environmental, Social & Governance (ESG) program and strategic decision to pursue generation of internal carbon credits through “in-setting.” The company recently raised C$42 million to advance its Grota do Cirilo Lithium project located in Minas Gerais, Brazil, with targeted Phase 1 open-pit production of 220,000 tonnes per annum (TPA) of battery grade spodumene concentrate beginning in 2022, along with a Phase 2 expansion increasing production levels to 440,000 TPA in 2023. Contact Sean at sean@proactiveinvestors.com

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