Standard Lithium Ltd 6-K, filed Feb 8, 2024

Standard Lithium Ltd. (SLI)

6-K 2024-02-08 For: 2023-12-31

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Added on April 12, 2026

About this 6-K

Standard Lithium Ltd filed this 6-K on February 8, 2024.

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Exhibit

99.1		Interim Consolidated Financial Statements for the six months ended December 31, 2023
99.2		Management’s Discussion and Analysis of Results of Operations and Financial Condition for the six months ended December 31, 2023
99.3		Form 52-109F2, Certification of Interim Filings (CEO)
99.4		Form 52-109F2, Certification of Interim Filings (CFO)
99.5		Press release dated February 8, 2024


		Standard Lithium Ltd.
		(Registrant)

Date:	February 8, 2024	By:	/s/ Robert Mintak
			Name:	Robert Mintak
			Title:	CEO and Director


	December 31,		June 30,
	2023		2023
ASSETS
Current assets
Cash	$	15,831	$	59,612
Receivables		346		468
Prepaid expenses		699		1,969
		16,876		62,049
Non-current assets
Reclamation deposit		83		83
Exploration and evaluation assets (Note 5)		134,168		99,952
Intangible asset (Note 6)		1,389		1,432
Right of use asset		966		1,233
Property, plant and equipment (Note 4)		3,366		2,765
Advances and deposits		177		2,669
Investment in Aqualung Carbon Capture SA (Note 3)		3,312		3,314
		143,461		111,448
TOTAL ASSETS	$	160,337	$	173,497
LIABILITIES
Current liabilities
Accounts payable and accrued liabilities	$	10,827	$	12,737
Lease liability – short-term		381		512
		11,208		13,249
Non-current liabilities
Lease liability – long-term		608		739
Decommissioning provision		132		133
		740		872
TOTAL LIABILITIES		11,948		14,121
EQUITY
Share capital (Note 8)		275,960		272,419
Reserves		42,120		35,888
Deficit		(168,639)		(148,707)
Accumulated other comprehensive loss		(1,052)		(224)
TOTAL EQUITY		148,389		159,376
TOTAL LIABILITIES AND EQUITY	$	160,337	$	173,497

“Robert Cross”		“Claudia D’Orazio”
Director		Director


	Three months ended				Six months ended
	December 31,				December 31,
	2023		2022		2023		2022
Expenses
Share-based payments	$	3,617	$	301	$	6,357	$	1,092
Demonstration plant operations (Note 7)		1,819		3,099		5,202		5,975
Office and administration		1,073		700		2,158		1,639
Consulting fees		762		1,068		1,913		1,569
Management fees (Note 9)		733		510		1,326		1,024
Salaries and benefits		666		-		1,154		—
Professional fees		599		146		1,079		1,386
Travel		293		113		417		160
Amortisation of property, plant and equipment (Note 4)		235		4		434		206
Patent		221		224		425		468
Amortisation of office leases		134		46		268		92
Filing and transfer agent		107		50		248		198
Advertising and investor relations		98		86		172		154
Project investigation		68		193		143		1,138
Foreign exchange (gain)/loss		45		1,266		(560)		(5,229)
Amortisation of intangible assets (Note 5)		21		21		43		69
Loss from operations		(10,491)		(7,827)		(20,779)		(9,941)

Interest and other income		315		953		893		1,512
Interest and accretion expense		(21)		(6)		(45)		(10)

Net loss for the period		(10,197)		(6,880)		(19,931)		(8,439)

Other comprehensive income (loss)
Item that may be reclassified subsequently to income or loss:
Currency translation differences of foreign operations		(3,644)		(1,150)		(828)		2,467
Total comprehensive income (loss)		(13,841)		(8,030)		(20,759)		(5,972)

Weighted average number of common shares outstanding – basic and diluted		173,110,082		166,552,197		171,821,533		166,457,676
Basic and diluted loss per share	$	(0.06)	$	(0.04)	$	(0.12)	$	(0.05)


								Accumulated
	Number							other
	of	Share						comprehensive
	shares	capital		Reserves		Deficit		income		Total equity
Balance, June 30, 2022	166,402,197	$	262,047	$	21,945	$	(106,718)	$	(746)	$	176,528
Share-based payment	—		—		1,092		—		—		1,092
Stock options exercised	150,000		212		(100)		—		—		112
Net loss for the period	—		—		—		(8,439)		—		(8,439)
Currency translation differences for foreign operations	—		—		—		—		2,467		2,467
Balance, December 31, 2022	166,552,197	$	262,259	$	22,937	$	(115,157)	$	1,721	$	171,760

Balance, June 30, 2023	172,752,197	$	272,419	$	35,888	$	(148,707)	$	(224)	$	159,376
Share-based payment	—		—		6,357		—		—		6,357
Shares issues under At-The-Market offering (Note 8)	1,426,359		4,177		—		—		—		4,177
Share issuance costs	—		(902)		—		—		—		(902)
Stock options exercised	100,000		266		(126)		—		—		140
Net loss for the period	—		—		—		(19,931)		—		(19,931)
Currency translation differences for foreign operations	—		—		—		—		(828)		(828)
Balance, December 31, 2023	174,278,556	$	275,960	$	42,119	$	(168,638)	$	(1,052)	$	148,389


Balance, June 30, 2022	$	3,221
Effect of change in fair value		93
Balance, June 30, 2023		3,314
Effect of change in fair value		(2)
Balance, December 31, 2023	$	3,312


						Land for
						future
						South
			Demonstration		Aqualung	West
			plant (formerly		Carbon	Arkansas
	Leasehold	Furniture	Pilot plant)		Capture	Project
Cost	improvements	and fixtures	(Note 7)		pilot plant	plant	Total
	$	$	$		$	$	$
June 30, 2022	—	—		26,649	—	—	26,649
Additions	187	12		—	1,778	—	1,977
June 30, 2023	187	12		26,649	1,778	—	28,626
Additions	—	22		—	68	939	1,029
Effect of foreign exchange translation	—	—		(1)	(3)	—	(4)
December 31, 2023	187	34		26,648	1,843	939	29,651

Accumulated amortisation
June 30, 2022	—	—		(25,664)	—	—	(25,664)
Amortisation	(6)	(1)		(207)	—	—	(214)
Effect of foreign exchange translation	—	—		17	—	—	17
June 30, 2023	(6)	(1)		(25,854)	—	—	(25,861)
Amortisation	(25)	(2)		—	(407)	—	(434)
Effect of foreign exchange translation	—	—		1	9	—	10
December 31, 2023	(31)	(3)		(25,853)	(398)	—	(26,285)

Net book value
June 30, 2022	—	—		985	—	—	985
June 30, 2023	181	11		795	1,778	—	2,765
December 31, 2023	156	31		795	1,445	939	3,366


			Commercial
		South West	Plant
	California	Arkansas	Evaluation	Texas
	Property	Project⁽¹⁾	(Lanxess 1A)	Properties	Total
	$	$	$	$	$
Acquisition:
Balance, June 30, 2022	18,460	14,230	—	—	32,690
Option payments	2,352	1,378	—	885	4,615
Lanxess brine supply costs	—	(7,953)	7,953	—	—
Effect of foreign exchange translation	527	406	—	—	933
Balance, June 30, 2023	21,339	8,061	7,953	885	38,238
Option payments	128	1,373	—	1,294	2,795
Effect of foreign exchange translation	(11)	(3)	(3)	(18)	(35)
Balance, December 31, 2023	21,456	9,431	7,950	2,161	40,998
Exploration and Evaluation:
Balance, June 30, 2022	4,333	4,105	4,533	—	12,971
Exploration costs	9	17,429	—	18,175	35,613
Lanxess 1A evaluation costs	—	—	12,740	—	12,740
Effect of foreign exchange translation	124	136	130	—	390
Balance, June 30, 2023	4,466	21,670	17,403	18,175	61,714
Exploration costs	5	5,652	—	16,158	21,815
Lanxess 1A evaluation costs	—	—	10,120	—	10,120
Effect of foreign exchange translation	(2)	(78)	(110)	(289)	(479)
Balance, December 31, 2023	4,469	27,244	27,413	34,044	93,170

Balance, June 30, 2023	25,805	29,731	25,356	19,060	99,952
Balance, December 31, 2023	25,925	36,675	35,363	36,205	134,168


	IP Assets		Patents		Total
Balance, June 30, 2022	$	1,501	$	—	$	1,501
Additions		—		41		41
Amortisation		(110)		—		(110)
Balance, June 30, 2023		1,391		41		1,432
Amortisation		(41)		(2)		(43)
Balance, December 31, 2023	$	1,350	$	39	$	1,389


	YTD2024			FY2023
Expected stock price volatility		77	%		84	%
Risk-free interest rate		4.4	%		3.16	%
Dividend yield		—			—
Expected life of options		5 years			5 years
Stock price on date of grant	$	4.00		$	5.09
Forfeiture rate		—			—


	Number of	Weighted average
	options	exercise price
Balance at June 30, 2022	10,170,000	$	2.11
Options exercised	(5,950,000)		0.91
Options granted	3,950,000		5.09
Balance at June 30, 2023	8,170,000	$	4.43
Options exercised	(100,000)		1.40
Options granted	1,750,000		4.00
Balance at December 31, 2023	9,820,000	$	4.38


	Options Outstanding					Options Exercisable
			Weighted		Weighted		Weighted
			Average		Average		Average
Exercise		Number	Remaining		Exercise		Exercise
Price		of	Contractual Life		Price	Number	Price
$		Shares	(years)		$	Exercisable	$
1.40		1,350,000	—	⁽¹⁾	1.40	1,350,000	1.40
3.43		400,000	0.28		3.43	400,000	3.43
7.55		500,000	1.12		7.55	500,000	7.55
3.39		1,200,000	2.05		3.39	1,200,000	3.39
6.08		200,000	2.55		6.08	200,000	6.08
6.31		200,000	3.18		6.31	200,000	6.31
8.25		170,000	3.21		8.25	170,000	8.25
9.40		100,000	3.28		9.40	100,000	9.40
5.08		3,750,000	4.28		5.08	3,750,000	5.08
5.23		200,000	4.39		5.23	200,000	5.23
4.00		1,750,000	4.73		4.00	—	—
		9,820,000	3.09		4.38	8,070,000	4.44


December 31, 2023	Level 1		Level 2		Level 3		Total
Investment in Aqualung Carbon Capture SA	$	—	$	—	$	3,312	$	3,312


Description	Units	Values
Initial Annual Production of Li₂CO₃	tpa^[1]	5,730^[2]
Average Annual Production of Li₂CO₃	tpa^[1]	5,400
Plant Operating Life	Years	25^[3]
Total Capital Expenditures (“CAPEX”)	Million US$	365^[4,5]
Average Annual Operating Cost	US$/t	6,810
Average Annual All-In Operating Cost	US$/t	7,390^[6,7]
Selling Price	US$/t	30,000^[8]
Discount Rate	%	8
Net Present Value (NPV) Pre-Tax	Million US$	772
Net Present Value (NPV) Post-Tax	Million US$	550^[9]
Internal Rate of Return (IRR) Pre-Tax	%	29.5
Internal Rate of Return (IRR) Post-Tax	%	24.0


	Three months ended				Six months ended
	December 31,				December 31,
		2023		2022		2023		2022
Internet	$	2	$	3	$	5	$	5
Personnel		1,436		1,733		2,626		3,042
Reagents		(63)		149		566		584
Repairs and maintenance		9		2		347		9
Supplies		103		931		488		1,682
Testwork		264		238		1,049		561
Office trailer rental		34		7		49		20
Utilities		28		36		52		72
Vehicle		4		—		13		—
Waste disposal & recycling		2		—		7		—
Total pilot plant operations costs		1,819		3,099		5,202		5,975


					Earnings/(Loss)
Quarter Ended	Total Revenues		Net Income/(Loss)		Per Share
March 31, 2022	$	Nil	$	(13,741)	$	(0.08)
June 30, 2022	$	Nil	$	(6,432)	$	(0.04)
September 30, 2022	$	Nil	$	(1,558)	$	(0.01)
December 31, 2022	$	Nil	$	(6,880)	$	(0.04)
March 31, 2023	$	Nil	$	(7,101)	$	(0.04)
June 30, 2023	$	Nil	$	(26,450)	$	(0.15)
September 30, 2023	$	Nil	$	(9,734)	$	(0.06)
December 31, 2023	$	Nil	$	(10,197)	$	(0.06)


Contractual Obligations	Payments due by Periods
	Total		Less than 1 year		1 – 3 years		4 – 5 years		After 5 years
Obligations Under Office and Storage Leases	$	989	$	381	$	608	$	Nil	$	Nil
Other Obligations	$	20,832	$	1,709	$	10,097	$	3,419	$	5,607
Total Contractual Obligations	$	21,821	$	2,090	$	10,705	$	3,419	$	5,607


	Three months ended		Nine months ended
	December 31,		December 31,
	2023	2022	2023	2022
	$	$	$	$
Non-Executive Chair of the Board, Robert Cross (Paloduro Investments Inc.)	33	34	67	67
President and Chief Operating Officer, Dr. Andy Robinson (Green Core Consulting Ltd.)	129	135	276	266
Chief Executive Officer, Robert Mintak (Rodhan Consulting & Management Services)	129	135	276	266
Director, Anthony Alvaro (Varo Corp Capital Partners Inc.)	62	63	125	125
Director, Jeffrey Barber (JSB Investments Inc.)	24	33	58	67
Director, Volker Berl (New Age Ventures LLC)	42	25	67	66
Director, Claudia D’Orazio⁽¹⁾	35	NIL	60	NIL
Director, Anca Rusu⁽¹⁾	42	NIL	67	NIL
Chief Financial Officer, Kara Norman (former)⁽²⁾	—	85	93	167
Chief Financial Officer, Salah Gamoudi⁽³⁾	237	NIL	237	NIL
Share-based payments	2,380	—	4,929	—
	3,113	510	6,255	1,024


	Options Outstanding				Options Exercisable
			Weighted	Weighted		Weighted
			Average	Average		Average
Exercise	Number		Remaining	Exercise		Exercise
Price	of		Contractual Life	Price	Number	Price
$	Shares		(years)	$	Exercisable	$
1.40	1,350,000	⁽¹⁾	0.00	1.40	1,350,000	1.40
3.39	1,200,000		1.95	3.39	1,200,000	3.39
3.43	400,000		0.18	3.43	400,000	3.43
6.08	200,000		2.45	6.08	200,000	6.08
7.55	500,000		1.02	7.55	500,000	7.55
6.31	200,000		3.08	6.31	200,000	6.31
8.25	170,000		3.11	8.25	170,000	8.25
9.40	100,000		3.18	9.40	100,000	9.40
5.08	3,750,000		4.18	5.08	3,750,000	5.08
5.23	200,000		4.29	5.23	200,000	5.23
4.00	1,750,000		4.63	4.00	—	—
	9,820,000		3.00	4.38	8,070,000	4.44


December 31, 2023	Level 1		Level 2		Level 3		Total
Investment in Aqualung Carbon Capture SA	$	—	$	—	$	3,312	$	3,312

June 30, 2023	Level 1		Level 2		Level 3		Total
Investment in Aqualung Carbon Capture SA	$	—	$	—	$	3,314	$	3,314


Date: February 8, 2024

“Robert Mintak”
Robert Mintak
Chief Executive Officer

Date: February 8, 2024

“Salah Gamoudi”
Salah Gamoudi
Chief Financial Officer