Standard Lithium Ltd 6-K, filed May 11, 2023

About this 6-K

Standard Lithium Ltd. (SLI)

6-K 2023-05-11 For: 2023-03-31

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Added on April 12, 2026

Standard Lithium Ltd.

(Registrant)

May 11, 2023

/s/ Robert Mintak

Robert Mintak

CEO and Director

Standard Lithium Ltd filed this 6-K on May 11, 2023.

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Exhibit

99.1		Interim Consolidated Financial Statements for the nine months ended March 31, 2023
99.2		Management’s Discussion and Analysis of Results of Operations and Financial Condition for the nine months ended March 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 May 11, 2023



	March 31,		June 30,
	2023		2022
ASSETS
Current assets
Cash	$	91,422,174	$	129,065,348
Receivables		662,231		1,135,095
Prepaid expenses		3,270,717		1,603,997
		95,355,122		131,804,440
Non-current assets
Reclamation deposit		84,873		80,742
Exploration and evaluation assets (Note 4)		59,928,683		41,127,501
Intangible assets (Note 5)		1,451,110		1,500,540
Pilot plant (Note 6)		812,718		985,057
Asset under construction – Commercial plant (Note 7)		13,433,180		4,533,458
Asset under construction - Aqualung Carbon Capture pilot plant (Note 7)		1,754,676		-
Right of use asset (Note 8)		1,106,774		379,650
Deposits		73,715		12,416
Investment in Aqualung Carbon Capture SA (Note 3)		3,386,315		3,221,491
		82,032,044		51,840,855
TOTAL ASSETS	$	177,387,166	$	183,645,295
LIABILITIES
Current liabilities
Accounts payable and accrued liabilities	$	6,260,790	$	6,597,682
Lease liability – short-term		415,335		182,060
		6,676,125		6,779,742
Non-current liabilities
Lease liability – long-term		705,045		208,435
Decommissioning provision		135,453		128,860
		840,498		337,295

TOTAL LIABILITIES		7,516,623		7,117,037
EQUITY
Share capital (Note 9)		270,271,019		262,046,589
Reserves (Note 9)		20,113,187		21,945,204
Deficit		(122,257,220)		(106,717,819)
Accumulated other comprehensive income (loss)		1,743,557		(745,716)
TOTAL EQUITY		169,870,543		176,528,258
TOTAL LIABILITIES AND EQUITY	$	177,387,166	$	183,645,295


“Robert Mintak”		“Dr. J. Andrew Robinson”
Director		Director


	Three months ended				Nine months ended
	March 31,				March 31,
	2023		2022		2023		2022
Expenses
Advertising and investor relations	$	132,192	$	156,068	$	285,869	$	271,132
Amortisation of intangible assets (Note 5)		20,345		47,103		89,294		143,407
Amortisation of office lease		64,457		31,103		156,117		51,840
Amortisation of pilot plant (Note 6)		1,096		3,906,410		206,732		11,249,269
Carbon Capture research & development		-		-		-		10,138
Consulting fees		931,472		1,262,673		2,500,787		2,024,676
Filing and transfer agent		167,678		365,613		365,771		552,233
Foreign exchange (gain)/loss		37,611		1,669,944		(5,191,389)		1,933,145
Management fees (Note 10)		554,832		1,484,715		1,579,136		2,224,949
Office and administration		820,246		696,073		2,458,865		1,924,468
Patent		188,676		91,017		657,001		327,177
Pilot plant operations (Note 6)		4,427,565		1,489,602		10,402,608		5,770,808
Preliminary economic assessment		-		-		-		87,130
Professional fees		238,977		940,955		1,625,207		1,623,826
Project investigation		161,442		310,104		1,299,896		885,964
Salary and wages		151,809		-		151,809		-
Share-based payments		43,664		1,323,477		1,135,413		2,510,322
Travel		174,105		52,174		333,678		177,801
Loss from operations before other items		(8,116,167)		(13,827,031)		(18,056,794)		(31,768,285)
Interest income		1,026,527		91,937		2,538,862		110,514
Interest and accretion expense		(10,972)		(5,890)		(21,469)		(10,106)
Net loss for the period		(7,100,612)		(13,740,984)		(15,539,401)		(31,667,877)
Other comprehensive income (loss)
Item that may be reclassified subsequently to income or loss:
Currency translation differences of foreign operations		22,675		(546,300)		2,489,273		386,954
Total comprehensive income (loss)		(7,077,937)		(14,287,284)		(13,050,128)		(31,280,923)
Weighted average number of common shares outstanding – basic and diluted		168,790,419		162,264,667		166,694,224		148,063,938
Basic and diluted loss per share	$	(0.04)	$	(0.08)	$	(0.09)	$	(0.21)


								Accumulated
								other
	Number	Share						comprehensive
	of shares	capital		Reserves		Deficit		income (loss)		Total equity
Balance, June 30, 2021	141,166,203	$	122,996,406	$	19,563,420	$	(68,617,507)	$	(2,398,853)	$	71,543,466
Share-based payment	-		-		2,510,322		-		-		2,510,322
Share issued for private placement, net of costs	13,480,083		118,240,689		2,211,663		-		-		120,452,352
Share issuance costs	-		(255,431)		-		-		-		(255,431)
Warrants exercised	6,684,892		7,389,127		-		-		-		7,389,127
Stock options exercised	2,910,784		5,854,957		(2,868,458)		-		-		2,986,499
Compensation shares issued	60,235		500,000		-		-		-		500,000
Net loss for the period	-		-		-		(31,667,877)		-		(31,667,877)
Currency translation differences for foreign operations	-		-		-		-		386,954		386,954
Balance, March 31, 2022	164,302,197	$	254,725,748	$	21,416,947	$	(100,285,384)	$	(2,011,899)	$	173,845,412

Balance, June 30, 2022	166,402,197	$	262,046,589	$	21,945,204	$	(106,717,819)	$	(745,716)	$	176,528,258
Share-based payment	-		-		1,135,413		-		-		1,135,413
Stock options exercised	5,750,000		8,224,430		(2,967,430)		-		-		5,257,000
Net loss for the period	-		-		-		(15,539,401)		-		(15,539,401)
Currency translation differences for foreign operations	-		-		-		-		2,489,273		2,489,273
Balance, March 31, 2023	172,152,197	$	270,271,019	$	20,113,187	$	(122,257,220)	$	1,743,557	$	169,870,543


Initial investment	$	3,113,991
Effect of movement in foreign exchange rates		107,500
Balance, June 30, 2022		3,221,491
Effect of movement in foreign exchange rates		164,824
Balance, March 31, 2023	$	3,386,315


	California		Arkansas	Texas
	Property		Properties	Properties	Total
	$		$	$	$
Acquisition costs:
Balance, June 30, 2021		12,768,549	12,107,486	-	24,876,035
Acquisition of property		5,183,941	1,642,281	-	6,826,222
Effect of movement in foreign exchange rates		506,868	480,627	-	987,495
Balance, June 30, 2022		18,459,358	14,230,394	-	32,689,752
Acquisition of property		126,099	1,372,931	356,132	1,855,162
Effect of movement in foreign exchange rates		944,456	709,684	-	1,654,140
Balance, March 31, 2023		19,529,913	16,313,009	356,132	36,199,054

Exploration Costs:
Balance, June 30, 2021		4,153,051	2,561,108	-	6,714,159
Exploration costs		14,820	1,442,241	-	1,457,061
Effect of movement in foreign exchange rates		164,861	101,668	-	266,529
Balance, June 30, 2022		4,332,732	4,105,017	-	8,437,749
Exploration costs		6,988	5,138,911	9,695,870	14,841,769
Effect of movement in foreign exchange rates		221,681	228,430	-	450,111
Balance, March 31, 2023		4,561,401	9,472,358	9,695,870	23,729,629

Balance, June 30, 2022		22,792,090	18,335,411	-	41,127,501
Balance, March 31, 2023		24,091,314	25,785,367	10,052,002	59,928,683


		IP Assets		Patents		Total
Balance, June 30, 2021	$	1,691,575	$	-	$	1,691,575
Amortisation		(191,035)		-		(191,035)
Balance, June 30, 2022		1,500,540		-		1,500,540
Amortisation		(89,294)		-		(89,294)
Additions		-		39,864		39,864
Balance, March 31, 2023	$	1,411,246	$	39,864		1,451,110


		$
Balance at June 30, 2021		12,338,741
Additions		1,929,020
Amortisation		(13,355,544)
Effect of movement in foreign exchange rates		72,840
Balance at June 30, 2022		985,057
Amortisation		(206,732)
Effect of movement in foreign exchange rates		34,393
Balance at March 31, 2023		812,718


		$
Balance at June 30, 2021		—
Additions		481,827
Amortisation		(102,177)
Balance at June 30, 2022		379,650
Additions		879,200
Amortisation		(156,117)
Effect of movement in foreign exchange rates		4,041
Lease liability at March 31, 2023		1,106,774


		Weighted
	Number of	average
	warrants	exercise price
Balance at June 30, 2021	9,813,870	1.13
Issued	336,877	11.09
Exercised	(6,684,892)	1.12
Expired	(3,353)	1.30
Balance at June 30, 2022 and March 31, 2023	3,462,502	2.16


	Number of	Weighted average
	options	exercise price
Balance at June 30, 2021	13,750,784	$	1.29
Options exercised	(4,410,784)		1.00
Options granted	1,170,000		7.35
Options expired	(340,000)		0.96
Balance at June 30, 2022	10,170,000	$	2.11
Options exercised	(5,750,000)		0.91
Balance at March 31, 2023	4,420,000	$	3.67


	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	$
0.75		200,000	0.09	0.75	200,000	0.75
1.40		1,450,000	0.43	1.40	1,450,000	1.40
3.39		1,200,000	2.81	3.39	1,200,000	3.39
3.43		400,000	1.04	3.43	400,000	3.43
6.08		200,000	3.31	6.08	200,000	6.08
6.31		200,000	3.93	6.31	200,000	6.31
7.55		500,000	1.88	7.55	500,000	7.55
8.25		170,000	3.96	8.25	170,000	8.25
9.40		100,000	4.03	9.40	100,000	9.40
		4,420,000	1.78	3.67	4,420,000	3.67


March 31, 2023	Level 1		Level 2		Level 3		Total
Investment in Aqualung Carbon Capture SA	$	-	$	3,386,315	$	-	$	3,386,315


June 30, 2022	Level 1		Level 2		Level 3		Total
Investment in Aqualung Carbon Capture SA	$	-	$	3,221,491	$	-	$	3,221,491


Overview	Units	Values	Comments
Production	tpy	20,900	At completion of Phase 3 production
Plant Operation	years	25	From the start of Phase 1 production
Capital Cost (CAPEX)	US$	437,162,000
Annual Operating Cost (OPEX)	US$	90,259,000
Average Selling Price	US$/t	13,550
Annual Revenue	US$	283,195,000
Discount Rate	%	8
Net Present Value (NPV) Post-Tax	US$	989,432,000
Net Present Value (NPV) Pre-Tax	US$	1,304,766,000
Internal Rate of Return (IRR) Post-Tax	%	36.0
Internal Rate of Return (IRR) Pre-Tax %	%	41.8


Description	Units	Values
Average Annual Production (as LiOH•H₂O)	tpa^[1]	30,000^[2]
Plant Operation	years	20
Total Capital Cost (CAPEX)	US$	869,868,000^[3]
Operating Cost (OPEX) per year	US$/yr	77,972,000^[4]
OPEX per tonne	US$/t	2,599
Initial Selling Price	US$/t	14,500^[5]
Average Annual Revenue	US$	570,076,000^[6]
Discount Rate	%	8.0
Net Present Value (NPV) Pre-Tax	US$	2,830,190,000
Net Present Value (NPV) Post-Tax	US$	1,965,427,000
Internal Rate of Return (IRR) Pre-Tax	%	40.5
Internal Rate of Return (IRR) Post-Tax	%	32.1


					Earnings/(Loss)
Quarter Ended	Total Revenues		Net Income/(Loss)		Per Share
June 30, 2021	$	Nil	$	(7,080,345)	$	(0.05)
September 30, 2021	$	Nil	$	(9,358,988)	$	(0.07)
December 31, 2021	$	Nil	$	(8,567,905)	$	(0.06)
March 31, 2022	$	Nil	$	(13,740,984)	$	(0.08)
June 30, 2022	$	Nil	$	(6,432,435)	$	(0.04)
September 30, 2022	$	Nil	$	(1,558,454)	$	(0.01)
December 31, 2022	$	Nil	$	(6,880,335)	$	(0.04)
March 31, 2023	$	Nil	$	(7,100,612)	$	(0.04)


	Three months ended		Nine months ended
	March 31,		March 31,
	2023	2022	2023	2022
Non-Executive Chair of the Board, Robert Cross (Paloduro Investments Inc.)	33,863	31,655	101,150	75,405
President and Chief Operating Officer, Dr. Andy Robinson (Green Core Consulting Ltd.)	135,180	526,633	401,593	726,637
Chief Executive Officer, Robert Mintak (Rodhan Consulting & Management Services)	135,180	526,633	401,593	726,633
Director, Anthony Alvaro (Varo Corp Capital Partners Inc.)	62,500	79,138	187,500	204,138
Director, Jeffrey Barber (JSB Investments Inc.)	34,432	31,655	101,413	69,155
Director, Volker Berl (New Age Ventures LLC)	18,396	31,655	84,097	69,155
Chief Financial Officer, Kara Norman	84,487	257,346	250,996	353,826
Director, Claudia D’Orazio	25,397	—	25,397	—
Director, Anca Rusu	25,397	—	25,397	—
Share-based payments	—	—	—	940,268
	554,832	1,484,715	1,579,136	3,165,217