Sigma Lithium gains after raising mineral reserves balance

Sigma Lithium

08/05/2024 16:12

** U.S.-listed shares of miner Sigma Lithium  SGML.O  up
5.4% at $17.72 
    ** Co says it is increasing its proven and probable mineral
reserve balance by 40% to 77 million tonnes
    ** Says the increase is occurring within its phase 3 and
phase 4 mines, resulting in a lengthening of the duration of its
integrated mining to an estimated 25 years
    ** Adds that the rise in balances enables opportunities for
a third and potentially fourth processing facility at its Grota
do Cirilo project in Brazil
    ** Including the session's gains, stock is down ~44% YTD

 (Reporting by Sourasis Bose in Bengaluru)
 ((Sourasis.bose@thomsonreuters.com))