5E Advanced Materials $FEAM stock confirmed a down wedgeThe wedge chart pattern is a technical analysis tool used by traders to identify potential buying or selling opportunities. It consists of three converging trend lines, which meet ... breakout (grey dotted line on chart below) on January 13, 2023. The wedge breakout is likely the result of the company starting it is on track to begin boron and lithium production by the end of Q2 2023.
5E Advanced Materials Remains on Schedule for Initial Boron and Lithium Production
On December 20, 2022, 5E Advanced Materials, a company that produces boron and lithium and has been designated a Critical Infrastructure by the US government for its 5E Boron Americas (Fort Cady) Complex, announced that it continues to aim to produce boron and lithium from its flagship project in Southern California by the end of CQ2 2023.
HIGHLIGHTS
- Before the end of 2022, pre-commissioning activities will begin, and before the end of CQ1 2023, final commissioning will be completed
- By the end of CQ1 2023, 5E continues to aim to start producing boric acid at its 5E Boron Americas (Fort Cady) Complex
- By the end of CQ2, 2023, initial lithium production is still anticipated by 5E
- 5E is currently looking into ways to increase the value of its large-scale lithium and boron complex
- High caliber candidates have been found for the CEO position, which is moving forward
5E Boron Americas (Fort Cady) Complex
At the Company’s Fort Cady Complex, which will see it become the first producer of boron this century and the next US-based lithium producer, the initial phase of construction activities is proceeding according to schedule.
Important dates for the start of production are:
- Pre-commissioning activities to commence before December 31, 2022
- Facility commissioning to conclude prior to the end of CQ1 2023
- Initial production of boric acid to commence by the end of CQ1 2023
- Initial production of lithium to commence by the end of CQ2 2023
For the delivery of its 5E Boron Americas (Fort Cady) Large-Scale Complex, the Company is weighing a number of options in an effort to capitalize on the anticipated and growing upswing in favorable market conditions. Markets for boron and lithium are experiencing high demand, which is putting supply under pressure. This demand is being fueled by OEM and global government initiatives aimed at accelerating the adoption of decarbonization technologies. In order to position the Company appropriately for upcoming full production operations, 5E is currently considering a number of options:
- Focus on fast tracking initial large-scale production as soon as possible by leveraging engineering work already completed as a part of the eDFS (refer ASX release April 16, 2020) coupled with real operating data obtained from initial Facility production
- Optimize planned product output to achieve best possible returns across boron advanced materials categories
- Optimize production modules based on customer demand, financing, and Facility capacity
SE Advanced Materials (FEAM) & The Role Of Boron+ In Decarbonization
