28 Dec 2021other material event● Neutral
The Canadian material change report confirming 11,634,137 shares issued at C$11.75 for C$136,710,110 on 23 December 2021.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
23 Dec 2021capital raising announcement▲ GoodMajor
Closed the twice-upsized placement at C$136.7 million, which the company said fully funds construction of the Phase 1 plant and mine and advances Phases 2 and 3. Sigma reached a funded construction decision inside three months of mobilising to site.
17 Dec 2021capital raising announcement▲ GoodMajor
BlackRock put in a further C$64.2 million, taking the placement to C$136.7 million and 11,634,137 shares - the second upsizing in a week, and the arrival of a large institutional holder.
What it means for a shareholder
11.6m new shares at about C$11.75 to raise about C$137m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
Create a free account to see this worked out for your own holding.
13 Dec 2021capital raising announcement▲ GoodMajor
Raised the placement by 42% to C$85 million and 7,234,042 shares at the same C$11.75 price, citing investor demand.
What it means for a shareholder
7.2m new shares at about C$11.75 to raise about C$85.0m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
Create a free account to see this worked out for your own holding.
10 Dec 2021capital raising announcement▲ GoodMajor
Announced a non-brokered placement of about 5,106,383 shares at C$11.75 to raise roughly C$60 million, aimed at ESG-focused institutions.
What it means for a shareholder
5.1m new shares at C$11.75 to raise about C$60.0m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
Create a free account to see this worked out for your own holding.
6 Dec 2021annual report● Neutral
Refiled both the 2020 annual information form and the Phase 2 Barreiro feasibility technical report as amended and restated versions.
6 Dec 2021other▲ GoodMajor
Began foundation and earthworks with 180 workers on site and placed deposits on 38 long-lead items, saying it was on track to produce in the fourth quarter of 2022 and had the equity to meet the conditions of its proposed construction debt facility.
9 Nov 2021securities registration● Neutral
A reissue of the 5 November release four days later. The company states on its face that it is reissuing to clarify that the mobilisation described was for construction, not pre-construction; a word-level diff shows that change and some rewritten COP26 wording, nothing else of substance.
5 Nov 2021securities registration▲ GoodMajor
Mobilised workers and equipment to site, completed front-end engineering design and filed a preliminary base shelf prospectus in Canada and the United States. Construction of the Grota do Cirilo plant begins here.
28 Oct 2021annual report● Neutral
Filed the annual information form for the year to 31 December 2020, ten months after the year end.
27 Oct 2021other● Neutral
Sigma's co-chief executive told a Brazilian congressional commission that Brazil could become a large exporter of sustainable lithium, framing the project as development for the Jequitinhonha valley, one of the country's poorest regions.
15 Oct 2021other● Neutral
Co-chief executive Ana Cabral-Gardner spoke on a Financial Times commodities panel about technology making lithium cheaper and cleaner. No company development.
6 Oct 2021material agreement▲ GoodMajor
Signed a binding six-year offtake term sheet with LG Energy Solution: 60,000 tonnes a year of concentrate on a take-or-pay basis in Phase 1, rising to 100,000 tonnes in Phase 2, priced off lithium hydroxide. The term sheet still had to be turned into definitive agreements, and in March 2024 LG Energy Solution took Sigma to arbitration over it.