- Allkem press release ( OTCPK:OROCF ): Q1 Revenue of $298M.
- Olaroz Lithium Facility: Sales at Olaroz lithium facility reached ~US$150M with a gross cash margin of 89%. Production at the facility was up 17% year-over-year to 3,289 tonnes of lithium carbonate, 43% of which was battery grade material.
- Mt Cattlin: During the quarter, Mt Cattlin produced 17,606 dmt of spodumene and shipped 21,215 dmt, generating revenue of US$106.7M with a gross cash margin of 80%.
- Group's gross operating cash margin was 82%, approximately US$244M.
- "Our teams remain focused on advancing the development of our project pipeline as we have clearly stated to triple production by 2026," CEO Martin Perez de Solay said in first quarter's earnings conference call .
- The Australian miner ended the quarter with net cash of US$447M up US$28.9M from 30 June 2022.
- Post reporting period, Allkem and the International Finance Corporation agreed to a nonbinding term sheet for a US$200M project financing facility for the Sal de Vida Project, subject to final commercial terms to be agreed and IFC and Allkem board approvals.
- Sal de Vida is designed to produce 45ktpa of predominantly battery grade lithium carbonate through an evaporation and processing operation at the Salar del Hombre Muerto site and is schedule to commence production in late 2023. James Bay slated to begin spodumene concentrate production in mid-2024.
For further details see:
Allkem reports Q1 results