Sigma Lithium Reports Q2 GAAP EPS of -$0.17, Revenue Down 63.2% YoY to $16.89M

Sigma Lithium reported Q2 GAAP EPS of -$0.17 and revenue of $16.89M, a 63.2% YoY decrease. The company's Q2 revenue was $21.1M, a 62% YoY decrease and a 56% decrease from Q1. Sales volumes totaled 40,350 tonnes.

Lithium Royalty Corp. (LRC) has announced its second-quarter 2025 results, showcasing resilience despite market volatility and depressed lithium prices. The company reported a significant decrease in royalty revenue and shipments, but continued to advance key projects in its portfolio.

Key Financial Highlights

- Royalty Revenue: LRC reported $127 in royalty revenue for the three months ended June 30, 2025, a decrease of $1,422 compared to the same period in 2024. This decline was primarily due to the suspension of production at the Finniss and Mt Cattlin projects and shipment delays.
- Depressed Lithium Prices: Spodumene prices declined by 36% year-over-year, impacting revenue and shipments. However, lithium prices rebounded by 52% from the lows in late June, supporting stronger pricing and incentivizing counterparties to accelerate deliveries.
- Cash Position: At June 30, 2025, LRC held $28.0 million in cash and had no debt.

Portfolio Updates

Ganfeng Lithium Mariana Project: The project, which began in February 2025, has made significant progress. Power lines have been connected, and the project is expected to reach nameplate capacity in 2026. LRC anticipates inaugural royalty revenue from the asset in the second half of 2025.

Zijin Mining Tres Quebradas Project: Construction at Phase 1 (20,000tpa LCE) is complete, and production is expected in the second half of 2025. Zijin is evaluating improvements to the processing and design of the plant for Phase 2 (30,000tpa LCE) operations.

Atlas Lithium Das Neves Project: Atlas Lithium completed a definitive feasibility study (DFS) for its Das Neves project in Brazil. The study estimates attractive returns with an 11-month payback, supported by low operating costs and a favorable all-in sustaining costs (AISC) of $595 per tonne.

Core Lithium Finniss Project: Core Lithium released a restart study repositioning the Finniss project as a globally competitive spodumene operation. The study outlines a 20-year mine life with annual production of 205,000 tonnes of 6% spodumene concentrate equivalent (SC6), at unit operating costs of A$690–$785 (US$450-$510) per tonne.

Market Outlook

Despite the challenges in the second quarter, LRC’s portfolio continues to advance, setting the company up for substantial organic growth in the years ahead. The recent rally in lithium prices provides a positive outlook for the sector, with production cuts and better visibility on trade dynamics driving demand.

Conclusion

Lithium Royalty Corp. demonstrated resilience in the face of market volatility and depressed prices. While the company reported a decrease in royalty revenue and shipments, its strong pipeline of opportunities and key project advancements position LRC for future growth.

References

[1] https://www.businesswire.com/news/home/20250814077807/en/Lithium-Royalty-Corp.-Announces-Second-Quarter-2025-Results