Cabral-Gardner acknowledged that several companies have been "waiting for some approach to Sigma," but declined to comment when asked if Sigma is in any takeover discussions.
"I'm focused on what I can control, which is getting this company to production," said Cabral-Gardner, who is also the managing partner of A10 Investimentos, which owns 45% of Sigma's shares. Production is expected to slowly ramp up in coming months and hit an annual production rate of 270,000 tonnes of spodumene concentrate by July.
In 2021, Sigma agreed to supply at least 60,000 tonnes to LG
Energy Solution Ltd starting this year. The
remaining production is expected to be sold on the spot market
to customers that likely will process the metal in China, and
Sigma is currently "ascertaining which client would get the
first shipment," said Cabral-Gardner.
Because lithium demand is low in biofuel-focused Brazil,
Cabral-Gardner said Sigma's project is "geared to enable the
energy transition in the northern hemisphere."
Sigma has projected the mine will reach an annual free cash
flow of $455 million for its first phase of production. Seven
analysts recommend buying Sigma's stock and believe it should be
trading 69% higher than current levels, according to Refinitiv
Eikon data.
(Reporting by Ernest Scheyder and Marta Nogueira; Editing by
Sandra Maler)
