5E Advanced Materials reports Q3 loss, appoints new CEO, updates Fort Cady project with $2.4B NPV

5E Advanced Materials, Inc.

2023-Q3 EPS reported -$0.47

Net loss of $10.1M for Q3 FY2023; cash balance $36.2M; construction in progress $61.5M.
Phase 1 capital estimate $373M (incl. contingency); targets 90K tons boric acid, 1.1K tons LCE by Q2 2026.
Project economics: FY2027 EBITDA $101.2M (62.1% margin); post-tax NPV 8% $2.4B; IRR 22.6%.
New CEO Susan Seilheimer Brennan appointed April 24; implemented cost cuts, plans HQ relocation to California.
Small-Scale Facility substantially complete; awaiting EPA authorization to commence mining operations.

item 2.02 item 8.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

5E Advanced Materials, Inc. reported financial results for the three months ended March 31, 2023.

Period: the three months ended March 31, 2023
Result: reported results

Exact text from the filing

On May 11, 2023, 5E Advanced Materials, Inc. (the "Company") announced its financial results for the three months ended March 31, 2023.

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Source: SEC EDGAR

accession 0000950170-23-020822

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