Standard Lithium Ltd 6-K/A, filed Nov 22, 2023

Standard Lithium Ltd. (SLI)

6-K/A 2023-11-22 For: 2023-09-30

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Added on August 22, 2026

About this 6-K/A

Standard Lithium Ltd filed this 6-K/A on November 22, 2023.

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Exhibit

99.1		Interim Consolidated Financial Statements for the three months ended September 30, 2023
99.2		Management’s Discussion and Analysis of Results of Operations and Financial Condition for the three months ended September 30, 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 November 9, 2023


		Standard Lithium Ltd.
		(Registrant)

Date:	November 21, 2023	By:	/s/ Robert Mintak
			Name:	Robert Mintak
			Title:	CEO and Director


	September 30,		June 30,
	2023		2023
ASSETS
Current assets
Cash	$	37,183	$	59,612
Receivables		475		468
Prepaid expenses		948		1,969
		38,606		62,049
Non-current assets
Reclamation deposit		85		83
Exploration and evaluation assets (Note 5)		122,119		99,952
Intangible asset (Note 6)		1,410		1,432
Right of use asset		1,105		1,233
Property, plant and equipment (Note 4)		3,635		2,765
Advances and deposits		520		2,669
Investment in Aqualung Carbon Capture SA (Note 3)		3,395		3,314
		132,269		111,448
TOTAL ASSETS	$	170,875	$	173,497
LIABILITIES
Current liabilities
Accounts payable and accrued liabilities	$	14,287	$	12,737
Lease liability – short-term		474		512
		14,761		13,249
Non-current liabilities
Lease liability – long-term		653		739
Decommissioning provision		136		133
		789		872
TOTAL LIABILITIES		15,550		14,121
EQUITY
Share capital (Note 8)		272,672		272,419
Reserves (Note 8)		38,502		35,888
Deficit		(158,441)		(148,707)
Accumulated other comprehensive loss		2,592		(224)
TOTAL EQUITY		155,325		159,376
TOTAL LIABILITIES AND EQUITY	$	170,875	$	173,497


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


	Three months ended
	September 30,		September 30,
	2023		2022
Expenses
Demonstration plant operations (Note 7)	$	3,383	$	2,876
Share-based payments		2,740		790
Consulting fees		1,151		501
Office and administration		1,086		938
Management and director fees (Note 9)		593		514
Professional fees		480		1,240
Salaries and benefits		488		—
Patent		204		244
Amortisation of property, plant and equipment (Note 4)		198		202
Filing and transfer agent		141		149
Amortisation of office leases		134		45
Travel		124		47
Project investigation		75		946
Advertising and investor relations		74		68
Amortisation of intangible assets (Note 6)		22		48
Foreign exchange gain		(605)		(6,495)
Loss from operations		(10,288)		(2,113)

Interest and other income		578		560
Interest and accretion expense		(24)		(5)

Net loss for the period		(9,734)		(1,558)

Other comprehensive income (loss)
Item that may be reclassified subsequently to income or loss:
Currency translation differences of foreign operations		2,816		3,616
Total comprehensive income (loss)	$	(6,918)	$	2,058

Weighted average number of common shares outstanding – basic and diluted		172,785,164		166,472,306
Basic and diluted loss per share	$	(0.06)	$	(0.01)


								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	—		—		790		—		—		790
Stock options exercised	150,000		213		(100)		—		—		113
Net loss for the period	—		—		—		(1,558)		—		(1,558)
Currency translation differences for foreign operations	—		—		—		—		3,617		3,617
Balance, September 30, 2022	166,552,197	$	262,260	$	22,635	$	(108,276)	$	2,871	$	179,490

Balance, June 30, 2023	172,752,197	$	272,419	$	35,888	$	(148,707)	$	(224)	$	159,376
Share-based payment	—		—		2,740		—		—		2,740
Share issuance costs	—		(13)		—		—		—		(13)
Stock options exercised	100,000		266		(126)		—		—		140
Net loss for the period	—		—		—		(9,734)		—		(9,734)
Currency translation differences for foreign operations	—		—		—		—		2,816		2,816
Balance, September 30, 2023	172,852,197	$	272,672	$	38,502	$	(158,441)	$	2,592	$	155,325


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		81
Balance, September 30, 2023	$	3,395



						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	—	—		—	68	939	1,007
Effect of foreign exchange translation	—	—		19	43	—	62
September 30, 2023	187	12		26,668	1,889	939	29,695

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	(12)	(1)		—	(185)	—	(198)
Effect of foreign exchange translation	—	—		1	(2)	—	(1)
September 30, 2023	(18)	(2)		(25,853)	(187)	—	(26,060)

Net book value
June 30, 2022	—	—		985	—	—	985
June 30, 2023	181	11		795	1,778	—	2,765
September 30, 2023	169	10		815	1,702	939	3,635


			Commercial
		South West	Plant
	California	Arkansas	Evaluation	Texas
	Property	Project	(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	124	9	—	741	874
Effect of foreign exchange translation	523	198	195	22	938
Balance, September 30, 2023	21,986	8,268	8,148	1,648	40,050
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	1	2,896	—	11,638	14,535
Lanxess 1A evaluation costs	—	—	4,307	—	4,307
Effect of foreign exchange translation	109	531	427	446	1,513
Balance, September 30, 2023	4,576	25,097	22,137	30,259	82,069

Balance, June 30, 2023	25,805	29,731	25,356	19,060	99,952
Balance, September 30, 2023	26,562	33,365	30,285	31,907	122,119


		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		(21)		(1)		(22)
Balance, September 30, 2023	$	1,370	$	40	$	1,410


	Q1-2024			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 September 30, 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	0.54		3.43	400,000	3.43
7.55		500,000	1.38		7.55	500,000	7.55
3.39		1,200,000	2.30		3.39	1,200,000	3.39
6.08		200,000	2.81		6.08	200,000	6.08
6.31		200,000	3.43		6.31	200,000	6.31
8.25		170,000	3.46		8.25	170,000	8.25
9.40		100,000	3.53		9.40	100,000	9.40
5.08		3,750,000	4.53		5.08	3,750,000	5.08
5.23		200,000	4.65		5.23	200,000	5.23
4.00		1,750,000	4.99		4.00	—	—
		9,820,000	3.30		4.38	8,070,000	4.45


September 30, 2023	Level 1		Level 2		Level 3		Total
Investment in Aqualung Carbon Capture SA	$	—	$	—	$	3,395	$	3,395


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
	September 30,		September 30,
	2023		2022
Operating activities
Net loss	$	(9,734)	$	(1,558)
Add items not affecting cash
Share-based payments		2,740		790
Foreign exchange		(500)		(6,368)
Amortisation		221		250
Amortisation – office leases		134		45
Interest expense		24		5
Net changes in non-cash working capital items to operations:
Receivables		(7)		641
Prepaid expenses		1,021		546
Advances		2,150		—
Accounts payable and accrued liabilities		(2,491)		(1,200)
Net cash used in operating activities		(6,442)		(6,849)

Investing activities
Exploration and evaluation assets		(15,677)		(4,482)
Purchase of land for future South West Arkansas Project plant		(939)		—
Aqualung Carbon Capture pilot plant development		(109)		—
Demonstration plant (formerly pilot plant)		—		(99)
Net cash used in investing activities		(16,725)		(4,581)

Financing activities
Exercise of options		140		113
Lease payments		(156)		(44)
Share issuance costs		(13)		—
Net cash from financing activities		(29)		69

Effect of exchange rates on cash		767		6,366

Net change in cash		(22,429)		(4,995)
Cash, beginning of period		59,612		129,065
Cash, end of period	$	37,183	$	124,070
Non-cash investing activities:
Change in current liabilities relating to Exploration and evaluation assets		4,038		(1,005)


	Three months ended
	September 30,
		2023		2022
Internet	$	3	$	3
Personnel		1,190		1,309
Reagents		629		435
Repairs and maintenance		338		7
Supplies		385		751
Testwork		785		322
Office trailer rental		15		13
Utilities		24		36
Vehicle		9		—
Waste disposal & recycling		5		—
Total Demonstration plant operations costs	$	3,383	$	2,876


					Earnings/(Loss)
Quarter Ended	Total Revenues		Net Income/(Loss)			Per Share
December 31, 2021	$	Nil	$	(8,568)	$	(0.06)
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)


Contractual Obligations	Payments due by Periods
	Total		Less than 1 year		1 – 3 years		4 – 5 years		After 5 years
Debt	$	Nil	$	Nil	$	Nil	$	Nil	$	Nil
Finance Lease Obligations	$	Nil	$	Nil	$	Nil	$	Nil	$	Nil
Obligations Under Office and Storage Leases	$	1,126	$	511	$	481	$	134	$	Nil
Other Obligations	$	18,891	$	1,752	$	10,348	$	3,504	$	3,287
Total Contractual Obligations	$	20,017	$	2,263	$	10,829	$	3,638	$	3,287


	September 30, 2023		September 30, 2022
Non-Executive Chair of the Board, Robert Cross (Paloduro Investments Inc.)	$	34	$	33
President and Chief Operating Officer, Dr. Andy Robinson (Green Core Consulting Ltd.)		147		131
Chief Executive Officer, Robert Mintak (Rodhan Consulting & Management Services)		147		131
Director, Anthony Alvaro (Varo Corp Capital Partners Inc.)		63		62
Director, Jeffrey Barber (JSB Investments Inc.)		34		34
Director, Volker Berl (New Age Ventures LLC)		25		41
Director, Claudia D’Orazio⁽¹⁾		25		Nil
Director, Anca Rusu⁽¹⁾		25		Nil
Chief Financial Officer, Kara Norman		93		82
Share-based payments		2,549		—
	$	3,142	$	514


	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
3.39	1,200,000		2.33	3.39	1,200,000	3.39
3.43	400,000		0.57	3.43	400,000	3.43
6.08	200,000		2.84	6.08	200,000	6.08
7.55	500,000		1.41	7.55	500,000	7.55
6.31	200,000		3.46	6.31	200,000	6.31
8.25	170,000		3.49	8.25	170,000	8.25
9.40	100,000		3.56	9.40	100,000	9.40
5.08	3,750,000		4.56	5.08	3,750,000	5.08
5.23	200,000		4.68	5.23	200,000	5.23
4.00	1,750,000		4.88	4.00	—	—
	9,820,000		3.20	4.38	8,070,000	4.45


September 30, 2023	Level 1		Level 2		Level 3		Total
Investment in Aqualung Carbon Capture SA	$	—	$	—	$	3,395	$	3,395

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


Date: November 9, 2023

“Robert Mintak”
Robert Mintak
Chief Executive Officer

Date: November 9, 2023

“Salah Gamoudi”
Salah Gamoudi
Chief Financial Officer