LKE towards TOP-5, page-5980

Direct Lithium Extraction seems to be working just fine for Livent, our literal next door neighbor, as can clearly be seen in their Q1 report. Some people here think they know better then tried already commercial processes, and better than formally educated Chemical and Material Scientists.

-- Strong First Quarter Performance with Adjusted EBITDA Almost Double Q4 2021 ---- Significantly Raises Full Year Guidance with 2022 Adjusted EBITDA Almost 5x 2021 ---- Announces Multiple Additional Carbonate and Hydroxide Capacity Expansions ---- Provides Details on Agreement to Double Ownership Stake in Nemaska to 50% --

Livent Corporation (NYSE: LTHM) today reported results for the first quarter of 2022.

Revenue was $143.5 million, up 17% from the fourth quarter of 2021 and 56% higher compared to the prior year. Reported GAAP net income was $53.2 million, 609% higher than the previous quarter, and 28 cents per diluted share. Adjusted EBITDA was $53.3 million, 94% higher than the previous quarter, and adjusted earnings per share were 21 cents per diluted share. Further improvement in lithium market conditions and strong customer demand in the first quarter supported higher realized prices than anticipated at the beginning of the year.

"Strong lithium demand growth has continued in 2022," said Paul Graves, president and chief executive officer of Livent. "Published lithium prices in all forms have increased rapidly amid very tight market conditions and Livent continues to achieve higher realized prices across its entire product portfolio."

Lithium Carbonate

In its first expansion in Argentina, Livent is on track to add 10,000 metric tons of lithium carbonate capacity by the first quarter of 2023. Another 10,000 metric tons of lithium carbonate capacity is expected to be added in Argentina by the end of 2023, which will nearly double Livent's total available LCEs ⁽¹⁾ from 2021 levels.

The Company also announced last quarter that it began engineering work on a second capacity expansion in Argentina. Following completion of a preliminary analysis, this expansion is now expected to add an additional 30,000 metric tons of lithium carbonate capacity by the end of 2025, or 10,000 metric tons more than previously announced. By re-engineering the use of fresh water, the second expansion will not require access to any additional fresh water. It also allows Livent to improve overall lithium yields and reduce water use intensity for current and future operations.

Livent has also begun evaluating a third expansion in Argentina that would add up to 30,000 metric tons of additional lithium carbonate capacity. This expansion would deploy a more conventional pond evaporation-based process and require significantly less capital versus prior expansions. Following the third expansion, Livent believes it can reach total capacity at its operations in Argentina of 100,000 metric tons by the end of 2030.

https://ir.livent.com/news/news-details/2022/LIVENT-RELEASES-FIRST-QUARTER-2022-RESULTS/default.aspx