5E Advanced Materials, Inc. (Nasdaq: FEAM) (ASX: 5EA) (“5E” or the
“Company”), a boron and lithium company with U.S. government
Critical Infrastructure designation for its 5E Boron Americas (Fort
Cady) Complex, articulated its support for the bipartisan effort in
Congress to include boron in the U.S. Geologic Survey’s (USGS) 2025
Critical Mineral List.
On January 26th, Representatives Jay Obernolte (CA-23) and Jimmy
Panetta (CA-19), along with eight other Members, petitioned
Secretary of the Interior Deb Haaland and USGS Director David
Applegate, encouraging them to recognize boron as a critical
mineral. The letter recognizes the significance of boron and its
derivatives across multiple industries, including energy and
defense systems, and the importance of boron in meeting U.S. clean
energy goals.
“We thank Congressmen Obernolte and Panetta for their leadership
in this effort,” said J.T. Starzecki, Chief Marketing Officer of 5E
Advanced Materials. “These Members and their colleagues recognize
the urgency and strategic importance of establishing a secure,
domestic boron supply to meet the growing demand across the energy
and defense industries.”
In their letter, the Congressional leaders note that, “Boron,
known for its strength, stability, and light weight, is a vital
material with limited substitutes in critical applications. As one
of the most versatile materials in the world, boron is used in over
300 applications that enable our way of life, including permanent
magnets, electric vehicles, wind turbines, solar panels, glass,
fertilizers, body/vehicle armor, weapons systems, aerospace
ceramics, and pharmaceuticals.” The letter goes on to encourage
USGS to “consider boron's unique properties and criticality to
national security and clean energy goals, especially as demand for
these supply chains grows.”
“Our country’s supply chains are in a precarious position, with
many of them mostly, or even entirely, dependent on other
countries,” said Rep. Jay Obernolte. “As one of the most versatile
materials in the world, boron is used in over 300 applications that
enable our way of life. Including boron in the USGS Critical
Minerals List would help ensure that the U.S. is not dependent on
China for boron and would safeguard its utilization as a critical
material. It is imperative that the USGS take action to secure a
domestic supply chain for boron and its derivatives.”
“Boron is used in countless applications that affect our daily
lives. However, its supply chains are becoming increasingly
vulnerable, which can compromise our defense posture and clean
energy goals,“ said Rep. Panetta. “I was proud of my work with Rep.
Obernolte to lead a bipartisan letter that calls for the
re-evaluation of boron as a critical mineral, which would recognize
the importance of boron to the United States. It is paramount that
our nation develops a robust, domestic boron supply chain to
bolster our national security and secure our future in clean
energy.”
5E is dedicated to executing its strategy and vision to become a
leading global producer of boron and boron-advanced derivatives.
The call from Congress to ensure boron is given due consideration
in Critical Mineral List assessments builds on 5E’s work to secure
legislation as part of the House-passed FY 2024 National Defense
Authorization Act, which directed the Department of Defense to
conduct a comprehensive study of its boron sources and supply
chains.
About 5E Advanced Materials, Inc.
5E Advanced Materials, Inc. (Nasdaq: FEAM) (ASX:
5EA) is focused on becoming a vertically integrated global leader
and supplier of boron specialty and advanced materials,
complemented by lithium co-product production. The Company’s
mission is to become a supplier of these critical materials to
industries addressing global decarbonization, food and domestic
security. Boron and lithium products will target applications in
the fields of electric transportation, clean energy infrastructure,
such as solar and wind power, fertilizers, and domestic security.
The business strategy and objectives are to develop capabilities
ranging from upstream extraction and product sales of boric acid,
lithium carbonate and potentially other co-products, to downstream
boron advanced material processing and development. The business is
based on our large domestic boron and lithium resource, which is
located in Southern California and designated as Critical
Infrastructure by the Department of Homeland Security’s
Cybersecurity and Infrastructure Security Agency.
Forward-Looking Statements
This press release includes “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995, as amended. All statements other than
statements of historical fact included in this press release
regarding our business strategy, plans, goal, and objectives are
forward-looking statements. When used in this press release, the
words “believe,” “project,” “expect,” “anticipate,” “estimate,”
“intend,” “budget,” “target,” “aim,” “strategy,” “plan,”
“guidance,” “outlook,” “intent,” “may,” “should,” “could,” “will,”
“would,” “will be,” “will continue,” “will likely result,” and
similar expressions are intended to identify forward-looking
statements, although not all forward-looking statements contain
such identifying words. These forward-looking statements are based
on the Company’s current expectations and assumptions about future
events and are based on currently available information as to the
outcome and timing of future events. We caution you that these
forward-looking statements are subject to all of the risks and
uncertainties, most of which are difficult to predict and many of
which are beyond our control, incident to the extraction of the
critical materials we intend to produce and advanced materials
production and development. These risks include, but are not
limited to: our limited operating history in the borates and
lithium industries and no revenue from our proposed extraction
operations at our properties; our need for substantial additional
financing to execute our business plan and our ability to access
capital and the financial markets; our status as an exploration
stage company dependent on a single project with no known
Regulation S-K 1300 mineral reserves and the inherent uncertainty
in estimates of mineral resources; our lack of history in mineral
production and the significant risks associated with achieving our
business strategies, including our downstream processing ambitions;
our incurrence of significant net operating losses to date and
plans to incur continued losses for the foreseeable future; risks
and uncertainties relating to the development of the Fort Cady
project, including our ability to timely and successfully complete
our Small Scale Boron Facility; our ability to obtain, maintain and
renew required governmental permits for our development activities,
including satisfying all mandated conditions to any such permits;
our ability to successfully implement the out of court
restructuring transaction and raise the maximum funding
contemplated thereby; the implementation of and expected benefits
from certain reduced spending measures, and other risks and
uncertainties set forth in our filings with the U.S. Securities and
Exchange Commission from time to time. Should one or more of these
risks or uncertainties occur, or should underlying assumptions
prove incorrect, our actual results and plans could differ
materially from those expressed in any forward-looking statements.
These risks are not exhaustive and the information in this press
release may be subject to additional risks. No representation or
warranty (express or implied) is made as to, and no reliance should
be place on, any information, including projections, estimates,
targets, and opinions contained herein, and no liability whatsoever
is accepted as to any errors, omissions, or misstatements contained
herein. You are cautioned not to place undue reliance on any
forward-looking statements, which speak only as to the date of this
press release.
For additional information regarding these
various factors, you should carefully review the risk factors and
other disclosures in the Company’s Form 10-K filed on August 30,
2023. Additional risks are also disclosed by 5E in its filings with
the U.S. Securities and Exchange Commission throughout the year,
including its Form 10-K, Form 10-Qs and Form 8-Ks, as well as in
its filings under the Australian Securities Exchange. Any
forward-looking statements are given only as of the date hereof.
Except as required by law, 5E expressly disclaims any obligation to
update or revise any such forward-looking statements. Additionally,
5E undertakes no obligation to comment on third party analyses or
statements regarding 5E’s actual or expected financial or operating
results or its securities.
For further information contact:
Davis Snyder or Joseph CaminitiAlpha IR GroupFEAM@alpha-ir.comPh:
+1 (312) 445-2870 |
J.T. StarzeckiChief Marketing
Officerjstarzecki@5eadvancedmaterials.comPh: +1 (612) 719-5076 |
5E Advanced Materials (NASDAQ:FEAM)
Gráfico Histórico do Ativo
De Abr 2024 até Mai 2024
5E Advanced Materials (NASDAQ:FEAM)
Gráfico Histórico do Ativo
De Mai 2023 até Mai 2024