Why did FEAM's operating expenses surge in Q4 2024?

The surge in operating expenses for 5E Advanced Materials, Inc. (FEAM) in Q4 2024 can be attributed to several factors: 1. **Increased Depreciation**: This indicates a possible expansion or upgrading of the company's facilities or equipment, which can be costly. The company's focus on capital investments, as indicated in their strategic plan, might have led to higher depreciation costs. 2. **Small-Scale Facility Operating Costs**: These costs are likely related to the operation and maintenance of the company's facilities. The increase could be due to the company's growth or the need for additional capacity to support its operations. In summary, the surge in operating expenses is likely a result of 5E Advanced Materials' strategic investments in expanding its facilities and equipment, which is a necessary step for increasing production capacity and potentially improving profitability in the future.