Sigma Lithium Files FY21 Results; Provides Update On Brazil Project

Sigma Lithium Corp SGML SGML ended FY21 with C$155.4 million in cash and cash equivalents as of December 31, 2021.
Sigma had sufficient liquidity to advance the Grota do Cirilo Project into production and made significant strides in advancing it.
The construction team is currently focused on constructing the Phase 1 Mine's protective drainage and constructing the bypass of the municipal road around the Grota do Cirilo Project.
SGML fully financed the capital expenditures estimated for the construction of the Phase 1 Plant and Phase 1 Mine by completing two equity financings, raising gross proceeds of C$178.7 million.
During FY21, the company concluded the construction of 100% of the foundation earthworks for the Phase 1 Production Plant. Initiation of civil works is commencing this month.
SGML says it is on track to deliver near-term production of Battery-Grade Sustainable Lithium, with plans to increase scale significantly.
Price Action: SGML shares are trading higher by 3.93% at $16.14 on Monday's last check.