FEAM - Earnings call transcript Q4 2024 | 5E Advanced Materials Inc.

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Operator

Good afternoon, and welcome to the 5E Advanced Materials Fiscal 2024 Shareholder Update Call. [Operator Instructions] Please note that today's conference call is being recorded. I will now pass the call over to Nathan Skown in Investor Relations. Nathan?

Nathan Skown

Good afternoon. Thank you for joining us today for 5E Advanced Materials Fiscal [Audio Gap] 2024 Conference Call.

website. will presentation our in that Relations of management and press the call, section webcast a can our this be earnings referencing release Investor During be found

or results, contain For Gap] Remarks today's the future Alpha a expectation made production Group or page on Investor FEAM@alpha-ir.com forward-looking conference market our dynamics, to at our of our on copy press our [Audio IR supplemental you Gap] Presented statements, may capacity, of including presentation, costs, cash items. contact our Relations will and spending go call release legal disclaimers. [Audio liquidity, other

Our adversely discussed or actual differ results statements. may materially from those forward-looking these and projected in

measures open hosted Officer, the first Officer, by will questions. [Audio G. Executive Paul after call Weibel; in in call J.T. and filings to compliance press for GAAP. This disclosures factors well materially may could in these Chief in will non-GAAP isolation call information are Financial off under up from the is release Additional that the as Chief The no results statements. Today's a out Regulation lead be comments, substitute not from company include our statements term to SEC. that financial financial conference a earlier is Gap] today, we Strategy which, afternoon's the that and the call with information Starzecki. as update discussion went of Management forward-looking as making by prepared presented as adversely also should to your public differ obligation XE's with forward-looking is concerning measures our in defined or cause some contained considered

Paul Weibel

XE, the on fiscal for you, thank joining challenging made, first samples. the the small-scale stronger, finished recently of today. one strides there being a year. final and production year Despite from facility, has significant started and been for recently much by progress having in achieved fiscal XXXX. XXXX, the better approval positions which closed customer XXXX significant a us Nathan, now shipping the for our obtained EPA, you, our We first XXXX business everyone, future Thank month we books made June

issue We convertible $X phase placement, notes. fiscal of capital XX,XXX X. exclusively to engineering equity acid cost diligence Last and first million and securing the phase U.S.-based shareholder As raise, private various XXXX. Please recent discuss week, outlook current partnerships year the produce will lenders capital complete facility, boric XXXX, million today's for of additional include commercial outline capital allows commitment fiscal Slide million. offering phase our The this from the offtake believe small-scale of as consists for engineering focus enter management a common year byproducts our finance. On we new team we that announced X the from our call, completing our that a of raise a our ton agreements, first facility, to the this commencing effort. capital $X $XX for optimization on to provides as of project we new exploring goals raise well of runway for our direct the commercial state via report progress the and to turn on we'll

capital deliberate first then we which expect engineering of The use a a have phase use complete to of or the proceeds we phase advancing the funds. We of of the and place the quickly completing engineering, program, technical includes these raised in strategy of this commercial recently plant report plan in following: summary. December for our update Upon XXXX. to from January this target

product will small-scale for facility, production and capital operating optimize advance the of continue to operation our our costs and to the fund where of Second, we customer efforts qualification.

small-scale our will in the ongoing on where aid finally, we new and the turn X, to the already advancing incidents we works. Please quarter. initiatives offtake accountability, pursuit the that team, in facility. Slide negotiations. will and behavior-based proud have of the safety agreements our report pleased various program had to we during implemented of and culture Thirdly, And safety. drive I'm I'm X progress government commercial capital to safety a of report the continues awareness of

plant result head XX,XXX acid boric to Additionally, equates as ppms resource. maintenance we we well that approximately of world-class sample. have grades X% demonstrate repair continue to XE boron our to in of feeds filter the boric a that screw the belt as is to Despite that conveyor to solution, downtime dryer. good a headwinds included resulted leak results, in the our which downtime. Recent at This achieve we acid design revising without X.X% gone continues in issues not exchanger to from some when have possession of heat the of

enclose prevent Additionally, to plant exposed we section the a from the paused and operations of the for weeks about final elements. install of August sifter X month to being the bagging to in product

Our team was up to diligent us running. necessary the back have executing solutions and swift judicious, and in

was increasing made, that prospective current customer on-spec achieve goal third specifications, produce we product. acid, a per to is started When was rates. and modifications meets to rate our of begin initially the to boric production producing, the first the day With ton product X second was the goal short goal

we it While qualifications are of production with a whereby we offtake engineering, increasing comfortable profile, ton progress continue can we as work rates, to complete day a liquidity short phase we costs X towards currently operating at provides first to of optimize assess us per agreements. customer the while rate continue and

to the by of decrease it solution. solution our time, efficient confidence grade increasing information and and solution less higher achievable expensive Further, efficient higher optimization incorporated is evaporating chilled crystallization more benefits blowing method a opportunity is to heat believe increase compared process. Essentially, the method that worth our the increase higher data multiple water commencing grade. can have have we residence commercial to our crystallization are design. On in from that production also of January change mining build into to and our to now meaningful has and solution. our to crystallization a Two degree Since our engineering our in the outlined temperature design into provided more highlighting. we mining of critical include we we the will that the Slide determined has leading has crystallization. Chilled us we changes mine in off X, injection temperature This commercial of we temperatures to rates, our evaporative we resource obtain levels assess integrated plans. operations to our our continue and modify As XXXX, have towards a head water. head This

crystallizer a balance energy relative amount First, the of structural with opportunity in capital in Hastelloy construction. less be required expensive materials which utilizing gas consumption our much XX% design, us drive the less. reduce natural And provides use evaporative turn the in overall reduction of will to steel lower to crystallization, this OpEx. which energy initial Further, will estimates cost by a will less

optimization we horizontal sustaining levels of is of mine overall wells of to we by reduce factor up can and the implementing believe area Another CapEx sidetracks. plan, XX a where our

test wells externally been to year. vetted Our program upcoming fiscal plan the well in levels, has and increase horizontal horizontal we confidence to

Additionally, we to examine critically potential continue our byproduct credits.

concentrations recovery determine our the increases in lithium today, confirmed lithium exists are optimal and the of monitoring solution we in calcium have We and to technology. chloride

talk turn continue providers. At actively presentation we gypsum, a about Officer, investigate to over assess the this our and to are with programs. and I'll Starzecki, Finally, calcium to as and byproduct to explore point, and this technology partnerships chloride relative commercial our we Strategy government producers J.T.? to Chief looking existing J.T.

Jason Starzecki

initiate Thanks, this and we Paul. as our well as critical commercial we and received late these our note This glass with the plant discussions growth path. quickly launching profiles potential and initial next turn recently down the we to long-term subsequent attractive very the as leaders in this are customer are underpin diversify program, acid our production acceptance, of qualification looking advancing has boric will If execute and production actively early their the us we it our them for a broad agreements part our are base outlooks. customers. fiber customers the strategy to carry samples been to progressed glass growing advancing pharmaceutical development step of The future. commissioning have with we Slide touch to who and platform customer is We Initially, can the optics, into operations how our product offtake products. After we in will consumer of use groundwork which commercial allowed stage a demand program, as key with premium X, on both of discussions, variety who interested customers. Since forward X of lays in and parties have which specialty qualification to qualification feedback to with now positive project June. that customers distributing supply progressively have for our included program electronics launched

and will a strong of these added continue the the quick of a discussions behind to customers long-term a critical us, These our defense to months additional new in transition looking leaders our profiles, samples federal commercial space receive few the industry marketplace, shipped program. we incremental for a continue acid recently, our For X government testing towards has chain continues ever. More domestic need X boric progress. can a than customers, to only we supply now source customer update and make to reliable to Slide is and importance parties secure the from pipeline more and project prospects attention with to receive move in interest and in on with to for and formal our inbound progress with one and being to industry. Encouragingly, we Furthermore, military have inquiries samples growth also product qualification. If the made are and of needs recognition and related capture other strategy already them. energy demand have

as for under Logistics produced products; congressional Defense, and in Critical X has and boron both always D.C.: the to backing Washington, inclusion in of in Capitol advance of and X USGS on Department funding as for a financial commitments process initiatives federal domestically Our our list. Multiple government as commercial the third, affairs of for Minerals Agency. derivative Phase support the both process operations main the federal part funding its facility; support Defense first, applications the Hill of our appropriations current -- outcomes pursued on congressional remain funding boron well second, program

the application investments we mid-July X U.S. to commercial plant. Act initiative. project recently Per for to $XXX initial agency's U.S. federal everyone, application Export-Import Department administers for for the the we our related made short- accepted better XE the to under and Defense this fall. of America highlight expected interest comes Base, in also into completed and DIBC ] an To was up feedback both for this application funding Made the program noting under to Industrial loan-backed as to federal that called which in awards defense solutions Cornerstone, support company government year debt are website, looking we Production We Within a the application companies call. of which look winners under supply fall. The hope submitted to Defense formal [ the million of Phase open chain. It's submitted for last note an update be monitor continuously continue final in finance quarter, through receive this provides the funding long-term a to our earlier funding announced Bank business. the letter apply from guarantee the our for Energy to worth a of and and the to

a boron a XX I'll Interior. With signed Critical to the under few to have Lastly, to California in XXXX United project and D.C. newest and we the States. the we've that, for USGS Paul remarks. added support the received successful source of Congress remain in-person Washington, in to the detailing obtaining our briefings, forth presentation of closing frequent members progress, for representatives hand Department very put engaged Minerals domestic with list of on to members over Hill key request Capitol boron been All in drive back updates

Paul Weibel

Thank you, J.T.

Slide on project we our we'll catalysts deliver we'll next over we our X taking next execute months. X, forward and the be As discuss X to turn steps the strategic as to playbook

we the U.S. mentioned, Made Bank's America applied for J.T. EXIM in initiative. As have

with bids Fluor, progress We diligence. bankable to phase successfully is to to our a calcium has with outlined and optimize the budgetary our parallel execute mix. started letter interest which byproduct I process offtakes produce optimal project the commercial to we'll summer that chilled our engineering EPC against to given our secure our expect superior project design team work need process invitation facility. of this is boric fall, design, the To would forward design. research, finance, we first Today, we commercial June, know an our begun utilize chloride that for the acid moving crystallization firm, of for already and customers. In gypsum assess the this as has has stream firm

have ongoing stand-alone as engineers energy our dedicated design. Today, cost test the total we for testing equipment its under be Our putting a data-driven each optionality pathways balances. and testing, OpEx, that streams, bring potential we'll have co-product and project economics revenue vendor CapEx function optimal and come know and on-site enhanced work. sub-work These using multiple and processing multiple methodology the streams for determine we improvements optimization drive of have include the will we create the streams material a further own scenarios they revenue project's to are this, to of and Through to test. potential down which and ability cost lab

progresses, As progress phase that expect of this price report will share the lift veil will first on we higher. our and the engineering we drive catalysts

product phase announceable to drive early increase and of technical and will that of bankability in to work customers completion the first pipeline These and offtake our we in finance. efforts letter a underpin the engineering refresh our will XXXX. agreements produce intents of towards the small-scale of will Additionally, project be report for used facility at our

the progress. on ahead boron This the DOE and to is highly near appropriations, remains the commercial XE's already for our us critical with focus we on which has reporting small-scale we submissions of at and have the firmly This of our confident economics XXXX, Slide team made the on in overcome our successful and we've complete have in favorable and both ground to given I'm our runway continue progress management we place. Despite next our DoD stage applications and in have conclude improvement a the progress result phase intact. the Lastly, Ultimately, capital of engineering. business, development, monitor to for plan term. I'll case hope raise, with latitude of the on headwinds submitted and first advanced, of XX. the the business facility recent we

XXXX. direction permits are key a qualification underway, progress forward in program our Our place, have to customer clear is and in we

work Advanced to team the long-term the shareholders. With always, build As for for we and seek I'd up Materials your as thank contributions Operator? entire our value to like that, XE at open questions. their hard we'll call to

Operator

D.A. [Operator Instructions] with The Davidson. first Matt question comes from Summerville

Canyon Hayes

You've still. to that at got Hayes I'd remember Summerville curious And some that pricing. J.T., I larger issues Maybe Canyon months couple on today. the were ago, Matt had an they constituents. of just update be was taking market spot you mentioned market hear a if for ongoing of on recent

Jason Starzecki

Canyon, first, thanks some and for input. joining having us today

instances in that based which product still address comments hearing still with still put being There, market. into to in are the quantities on. producers is customers struggle product where within the there first a into markets caking large on transported working is continued pertains potential to are a certain So is let issue me taking the that other we producers that environments

in into far they spot have guidance for pricing boric ton. the as launched boric per USD acid X,XXX continued some recently, X,XXX is spot of As put of where to marketplace USD pricing goes, and to acid, the coverage Fastmarkets range

Canyon Hayes

Great.

sheet, Moving moving over here. of to a the balance parts couple

update will injection. next standing the You've maybe to burn months, XE the bring years, where and et current today got rates, of where cetera? capital recent Kind that at cash you're an over

Paul Weibel

Yes.

the question. appreciate I -- think I

first XXXX. in that into FEL-X And phase, program. As the of get us us noted gets this will through think early engineering I the our remarks, kind

Operator

with Okay. question from The comes Tate next Sullivan Maxim Group.

Tate Sullivan

please? the mentioned program. will you detail those increasing to work, can program of provide Paul, grade Do volume? the see need an how qualification And more customer how on customers qualification -- the the than consistency you more

Paul Weibel

Yes.

think customers, they wrap specifications matters, as with, their working a whereas that a size. particle much I right? as acid Boric not kind right? profile of customers certain spec, So gets commodity, Moisture we're everyone have you to when the make so different it on content well has that based a it's just own talk commodity, impurity

ultimately, -- who will kind so, spec, much And a there of that very maybe the to today, look we that's because have -- will XX. we're customers if right? the of extent other ppms, at best are certain to kind has XX And if you sulfates and chlorides meet,

on spec. customer we're current So the

And with so we've J.T., but will of samples. different so add step think every right? their customer And here, -- it is where customer. handling, and by kind they'll take started ultimately, X material And be in I varies or then KD X tons, next and the process

Tate Sullivan

I J.T. If day most is day program? X X customer Yes. Yes. enough to a of the ton And -- satisfy a is sorry, -- just could and say qualification to ton enough

Paul Weibel

you that? to J.T., want take

Jason Starzecki

Sure.

So this that yes, that testing up. testing that programs queue plus we've and does the to the programs point, meet at launched, starting needs customers the it Tate, the we're

As bring Paul we feed coming us mentioned of cost runway opening right a his now tonnage the view in we X do as into out the day optimized into it customer continue remarks, the more facility ton as some amount small-scale and to gives of program, qualification customers that to of in to program. that the

the feel do at point, right this for balance that that's us. we So

Tate Sullivan

about costs the the it now operating terms forward? be Paul, the operating where most the from And then did In I injection side the can of costs, plant on provide you cut talk of or side? processing going Great. mean I will small-scale away is could running mostly and you in off? -- terms you of -- facility,

Paul Weibel

Yes.

a at -- from bigger the we costs day, are hydrochloric and burn fixed really And which a sulfuric kind component XX/X. I is acid, regenerate ton as HCl. LNG we variable like bit that's lime, because it's X a right? do cost, some and listen, operate have reasonable we of a think, The of today,

And bigger so the component. that is

ton, offset is us that the continue kind to of of comfortable XX, right? right, in back raised we as right? we've of long-term adequate supply that's will focus because place, what big if And we're right? offtake to as But customer incremental we're gotten the is to like, are and the our -- credits. that of today it's what most qualification. And inventory put best to -- day liquidity build was X and of XX,XXX ton why, here, of customers, know so is that some some a where of all worlds. add So sales kind look up kind gives given So against we like the profile, going ability of tons, of these and are, at utilizations the their Listen, a on kind kind ultimately question I we've production when other we and kind those to can we we

Tate Sullivan

And me. -- for great. just last And

of or some machine to go... mentioned the the -- Are more might related and sort -- Or and a of you work you're come bagging shutdown with process? was related you Can that August You work done up? work. shutdown-related work

Paul Weibel

No. Yes.

XXX% much mining. is the So much And very outdoors, plant pretty it's it's -- solution right?

into crystallizer belt your it's So ultimately filter. to and piped your

plant of to come needed And off right? end the bagging, handling, where it and our fill material of the the where we and goes super to kind then screw to into we realized so we dryer belt then so enclose bulk -- And conveyor we sack. from the filter, back

doing like I of was of always kind And some there's highlighted gone that's as that. Listen, get issues. and we a through but of And of pains, a we stopped been of and of kind And any our of through, pretty kind while a novelty so I'll worked back a there's it we process. -- there's candid, basic we them We've teething maintenance, tricky. preventative here And be bit a kind we we've think to -- up. little but off kicked couple right? are production enclose we job, those

take X, a take X to steps but may find back, step we continue forward. you ways So to

Operator

comes Instructions] Key question [Operator from next B. Securities. Riley Matthew The with

Matthew Key

briefly. of lot acid boric a touch of made being lithium Obviously, want in to I progress terms on production. did

your currently the lithium more go a think recovery detail you're noted the line evaluating time product remarks, current for prepared customer-ready in into Could on methods I Cady? maybe bit producing byproducts. a what's you from for you that? little various Fort And

Paul Weibel

about byproducts is what we're if metal which as piece could really XX the of and today -- the we'll up and could go that ppms we look chloride, will build seeing on could that ion genesis to extract of calcium do the your calcium. at some there. with want sodium could -- to route, some with And So out produce, -- time, we you be ultimately, in crash you've concentrations range, of right? test you the it's sample XX right? exchange is we the is or from your see the It's ppms good, could potentially after anywhere you that's be And you removed data, more exchange ppms, lithium remaining salts. the gypsum lithium if on ion over that Or

-- is has sort where lot put it you're that headwinds producers from to in conditions -- up-and-coming of space. market is been where in And on DOE expensive a there's and seeing pricing is, of ultimately, we -- what like want it's so

extract So we lithium, current recover cost to about avenues the to that we're have design. while to possible, we of -- we good lowest that of very couple in in want and feel like we of want trend -- the mindful right? And a bullish pursue rate the

lab the HCl -- our XX we actually yes, And XX change where ppm modify think so ongoing we I and rate. are also that when testing Xx has to doing in I

we it. So at X%, Xxed

kind this like, that that for a economics. data could wow, -- game of, okay, changer good so be And the those is are

comforting to think good that's I see so And there. is really that, stream it's just and -- been -- that it's

this kind DOE is of the -- for the can we application in resource We we really maximize have grant dovetails And and table. that. how into applied ultimately it

little able question. to that's a but more do we once speak think bit lines, homework, we then would to time I be a great

Matthew Key

that Got helpful. both it. And submitted mentioned with has XE the DOD and DOE. for applications you funding That's

Assuming financing remind that's potentially how of me much received a you from programs? could those could all ballpark successful, be

Paul Weibel

J.T., you to want take that one?

Jason Starzecki

Sure.

the EXIM Matt, of guarantee opening credit that in the So talked back we we've for. about comments, magnitude asked our

We terms have that grant process pretty millions dollars significant of applications across in XXXX in different we've of tens in put multiple of programs.

most seen in or that in similar CapEx you importantly, the get a will but have remember, We that of from of place, has DOE, all through down. very very, with an credit conjunction to we've Phase X with updates. The are funding the There's in And things do appropriations be right? a we've appropriations the given put the applications have just DoD talking under But where any to the that process, progress that all need back go the asks obviously political funding request. you're guarantee. those through. There's federal to when a magnitude process defense. where made the agriculture, track way dealing number. advanced is XX And impactful continually sort advancements is that that both size the also, election the temporarily and season that other from slowed of about we some obviously them, item and different which that appropriations, points to falls of There's one

that -- we're on And for the will million get And think to the asked we'll if -- successful appropriations request. Under for get we that, the to that EXIM an the $XXX process, backstop So are be we've annual within secret grant DoD then it the in there sauce of basis, project programs will ask I top right? an money. the we'll annual So finance. Title limited not DPA can request. you're within grant on one are programs we III, is the just

multiple don't very are like applications certainly, that will to impactful control are there bit and time be and stakeholders. amounts a web. -- asked broader for we've the the beneficial avenues, So the We the almost lines, the very but spider

Matthew Key

it. helpful. Yes, luck forward. for me, Got good That's that's and very it moving

Operator

follow-up question Sullivan a Maxim Group. with have We Tate from

Tate Sullivan

Maxim given to I determined? by It's chance time in to planning you your XX-K fiscal know from be Sullivan have Tate you tonight file year-ended file following up. a just or June. to it Are

Paul Weibel

Yes.

go as updated. review. things last first -- we well, week, it's week. based the you They're So final all disclosure thing the getting subevent imagine, next can on in out deal are If

Tate Sullivan

is getting then J.T., on Can you the for mentioned And funding on list critical last eligibility? of you USGS XXXX. that potentially that list increase Okay. benefits one being of that the list? some Does of the materials just

Jason Starzecki

laid yes. is the it out actually unlock open would already Office. Should list, sort funding there the both answer sort we Great Critical what on it additional Department of Interior's and of opportunities? extract DOE items critical Minerals which DoD, and specifically to and route, added USGS Does get list projects broad it decide our the into Paul -- would it that also unlocks that yes, sort -- opportunities. are pursue are would Program of answer also the Department for question, profile of Tate. The and But funding it is getting strategy Energy be placed the Loan of it would that the the our has pockets short additional unlock in across sort money into to of add opportunities for gating play extraction that are that. operates list, does of opportunities in to up extracting minerals. cover more Because funding way to the of the Therefore, other of boron other should the then spans to is sort it's

Operator

Okay.

Investor in questions. floor to Caminiti Joseph Now investor back I'd turn like to submitted the Relations for

Joe Caminiti

Thank John. you,

number submitted For this asked a by a that moment, of call. in frequently our will investors I advance of questions recite were

of were number submitted asked company that management While funding the applications? applications these expectations the on go through our asked questions any of a by and has to related provide level any the to will now analysts, the funds additional I anticipated also detail most frequently submitted that were the questions sell-side the team. Can you regarding

Jason Starzecki

take to? Paul, want would do to or you me like you that

Paul Weibel

kind forward. so that's of go No, government,

Jason Starzecki

it appreciate or Okay. Thanks, increased additional lot DPA provide give question does the Logistics some $XX request. in sort III within It we is request how ranges into budget specifics a to an fit under magnitude that the and products. We've of I work, also of I'll the request on production fairly facility, answered for into -- look specifics made that request that. Joe. DoD, ongoing won't get a stakeholders Defense earlier play you regular a a but of at of basis. equipment the the essentially as the for to defense and where current get domestic funding million. year appropriations the ranges the I I'll the made into of different falls do we million some it the also scalability acid within prepurchase and that derivatives $XX of engineering up was under Agency Title boric for it

those reduce the that the in very agreement it is that we've can that Now we the under figures, feel so number. and that as come all U.S. strong can decisions They to that that number. -- our industrial those as recommendation make significant split they is they the government applied funding is we've that think an that They reserves They the on today. a that adjust of anything base make is is that to in we'll funding the DLA? can by do Or caveat made and between here I for, case can split of it these and base? the sort market increase internally. But saying case applications right it's message clearly can

Joe Caminiti

the question. submitted another you. qualification in next investor are your forthcoming customer anticipated Thank What program? steps And

Jason Starzecki

is some I terms they're of can sort to in of different their talk customer steps. Every how general utilize boric in going acid in production.

will particle that will will you So they really long as that as test in and of incorporating some sort the that have content what the testing. interested are impurity size. call production fit really, you go into chemical And parameter, essentially profile, we'll the into

that environment and and it on will handling based moves the in like the things of out because and testing customers, of. we're Some the conversations in, add storage process

of we've you'll is So which so with always testing, initiated with handful where start lab customers. a --

that value to You then start move chain. down

Some and where on market. depends end some the we're will with over going skip right have handling, storage that,

will they'll some a end from materials will want small very all all inputs, run You it they're of actually raw acid. including with products, And customers do perspective. produce then to to do laboratory production, based, going the and go batches more then of through, the boric some way typically full small-scale a scale the you have where if

timelines customer they're sort their the We're using it it because -- using it beholden to personnel they're so their And and they're work their of we're runs using fitting -- facilities, gamut. schedules. into

I in to think that understanding the be audience and know is interested dialogue. broader very are we what in would constant

the round constantly is So we're the things out in kgs where of testing are pounds be for We're the next constantly or either are or getting the process. We're going step. plotting tonnage testings next feedback or out and plotting what customers. constantly how next needed much to

that clear road to map the as we will a very today, end And update we and continue in So sit what's we're evolves, we of going to do pipeline the where up. market. where have

Joe Caminiti

Do you. in will you question. investor fiscal another Thank XXXX? And revenues production-based submitted anticipate you have that

Paul Weibel

that. take qualification. would with sell -- then I excess want yes, any can product, want right? set so to inventory of to we incremental I we keep the make kind those on-spec build inventory we up production And any as come clear continuing sales, get which Thanks. of Yes, then product. the vendors, pace play, hurdles, credits, will to think can to back And customer progress as of

Joe Caminiti

question the FEL-X completing commercial and pre-feasibility submitted Thank are submitting XE's And engineering FEL-X program is existing final biggest a the ahead you. of company's risks What study? the engineering regarding program. investor

Paul Weibel

there. question Good Thanks.

continue think I basically noted, boric and feel to really is forward we on with budgetary stream, acid we good is side. we until about of assess. kind boric are great. that's Know And bids, are moving where which calcium I what we up that as kind of where the

So I today, on have bit have the where kind going so think kind optionality the the opportunities, a that's of we keep gypsum. And go can parallel we and we of existing it's And well do more homework economics? producers need whether unknown that stream like technology time bolt do sure of better make outcome I that think existing with project side on really we for as licensing to to work what team and there's on but kind is we hard because line. of that's packages, working a or partnership to little to we aware of hit

Joe Caminiti

back XE the Materials. Weibel, concludes questions, call and investor CEO now submitted of That to Paul over Advanced I you. the Thank turn will

Paul Weibel

for you, XE time interest your and our This conclude Advanced remarks. does in Materials. Thank everyone,

expand have producer tremendous and a producer the to you of upcoming to acid all do Look over boric Thank of the forward come. a journey this the have world. of strategy the to several next proven to modularly lithium in opportunity We years. you. with We and the sharing asset next front us become in in that asset quarters

Operator

This this your lines today's you and time. Thank you disconnect for concludes you. conference, Thank at your may participation.

5E Advanced Materials (FEAM) 4 Sep 242024 Q4 Earnings call transcript