USA News Group Commentary

VANCOUVER, BC, April 30, 2024 /PRNewswire/ — Coming off a major market correction in 2023 down from 2-2022’s record highs, the lithium market is primed for a rebound in 2024. Analysts at MorningStar using data shared from Platts, LME, Benchmarked Minerals, Fastmarkets, and MorningStar itself are forecasting lithium prices to stabilize and rise in 2024, and to nearly double from $17,000 to $30,000 per metric ton from 2023 to 2030. As the Electric Vehicle (EV) market moves towards a projected $1.66 trillion by 2030, lithium demand is expected to triple from 2022 levels over that time. Today with more than 65% of the world’s lithium reserves, it’s in Latin America where some of the most promising new projects are still under development, including from Lithium South Development Corporation (TSXV: LIS) (OTCQB: LISMF), POSCO Holdings Inc. (NYSE: PKX), American Lithium Corp. (NASDAQ: AMLI) (TSXV: LI), Sigma Lithium Corporation (NASDAQ: SGML) (TSXV: SGML), and Atlas Lithium Corporation (NASDAQ: ATLX).

As an integral part of the prolific Lithium Triangle, Argentina is on pace to become a Top 3 Lithium Producer status by 2027. One of the more prominent developing stories within Argentina’s Salta Province is the Hombre Muerto North Lithium (HMN Li) project, 100% owned by Lithium South Development Corporation (TSXV: LIS) (OTCQB: LISMF) which late last year produced a newly upgraded NI 43-101 technical report, revealing a remarkable 175% increase in its lithium resource to more than 1.58 million tonnes of lithium carbonate equivalent.

Based on this newly defined N.I. 43-101 lithium resource, Lithium South has just completed a Preliminary Economic Assessment (PEA). This technical and financial evaluation was based upon a potential 15,600 tonne per year lithium carbonate technical grade operation. The envisioned mining facility would use industry standard solar evaporation to extract the lithium. The financial model looked impressive with a after tax Net Present Value of US$938 million, an after-tax Internal Rate of Return of 31.6% and a short 2.5-year payback.

This year has started off with an interesting development between Lithium South and POSCO Argentina SAU, a wholly owned subsidiary of Korean giant, POSCO Holdings Inc. (NYSE: PKX). A key southern portion of the HMN Li Project, the Norma Edith and Viamonte contiguous claim group, is located in a zone of dual jurisdiction between Catamarca and Salta Provinces. POSCO has the Catamarca side and Lithium South has the Salta side. To facilitate development of the area, POSCO and Lithium South have agreed to share brine production from this area on a 50/50 basis. The area may offer the ability for Lithium South to substantially increase the overall potential size of the HMN Li Project. We are awaiting drilling to start in this area.

At the Alba Sabrina claim block, a 400 meter deep pumping well has just been completed. The next step is a long term pump test which is currently underway. Early indications are that the well may offer high productivity. The well was described by the company as exhibiting strong artesian characteristics, which means the brine is flowing out on its own. This hole will be very important in establishing the project viability.

Outside of the Lithium Triangle are still other promising projects in Latin America, including the Falchani lithium project in Peru developed by American Lithium Corp. (NASDAQ: AMLI) (TSXV: LI). Earlier in January 2024, Reuters reported the Falchani’s project value had tripled from the previous forecast to $5.11 billion and that it would have a potential operating life of 32 years.

“The very large increase in NPV combined with a low initial capex and robust economics in the updated PEA for Falchani are the culmination of successful work programs at site and flow sheet optimization over the last couple of years combined with an improved lithium pricing environment,” said Simon Clarke, CEO of American Lithium in the Updated PEA Falchani highlights press release. “We are also extremely pleased to now include the compelling strategic and economic value proposition of adding SOP fertilizer and cesium sulfate by-products to the robust economic potential of core, high purity lithium production at Falchani. This PEA update is a major step towards completion of pre-feasibility work.”

In Brazil, Sigma Lithium Corporation (NASDAQ: SGML) (TSXV: SGML) ended 2023 on a high note, announcing its fifth shipment of 22,000 tonnes of what they call “the most environmentally sustainable lithium in the world” from their Greentech Plant which is operating at its design capacity of 270,000 tonnes per year. The initial buyer of Sigma’s lithium is mining giant Glencore which prepaid 50% of the shipment’s value upon completion of loading, reflecting the load’s provisional premium price for the operation’s unique Quintuple Zero Green Lithium concentrate. Sigma followed this up by signing a letter of intention (LOI) for development bank debt of approximately US$100 million to fund construction of its fully licensed second Greentech Industrial Lithium Plant.

“Despite the recent deterioration in the outlook for lithium demand for the short term, the Company believes that with the appropriate capital structure enabled by this development bank financing, it has a unique opportunity to solidify its global industrial competitive leadership in producing low cost and sustainable pre chemical lithium concentrate,” said Sigma CEO and Co-Chairman, Ana Cabral-Gardner.

Set to join Sigma as a Brazilian lithium producer in the near future is Atlas Lithium Corporation (NASDAQ: ATLX), which back in December 2023 reported was fully funded to first production in 2024. This came through gaining commitments with two top lithium chemical companies: Chengxin Lithium Group and Yahua Industrial Group, suppliers of lithium hydroxide to Tesla, BYD, and LG, among others. Goldman Sachs served as financial advisor to Atlas Lithium through these transactions.

Atlas would go on to kick off 2024 by intersecting high-grade lithium mineralization at its Neves Project, including 1.96% Li2O over 3.4m.

“We remain very encouraged by both the widths and grades coming out of our latest drilling campaign results,” said James Abson, Atlas Lithium’s Chief Geology Officer. “The recently discovered Anitta 4 mineralized pegmatite cluster is also starting to become more cohesive, with at least two parallel mineralized dikes now being delineated within the swarm. These latest intersects continue to expand the pegmatite body in both down-dip and along-strike orientations.”

Source: https://usanewsgroup.com/2023/10/18/the-lithium-race-to-power/ 

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JACKSONVILLE, Fla., April 30, 2024 /PRNewswire/ — Medius, a leading global provider of cloud-based accounts payable (AP) automation and spend management solutions, and SourceDay, a leading supply chain collaboration platform transforming procurement, have announced their official partnership. The collaboration brings unparalleled operational efficiency and control to the Procure-to-Pay (P2P) cycle for discrete manufacturers and distributors worldwide.

By combining SourceDay’s best-in-class supplier engagement and purchase order (PO) lifecycle capabilities with Medius’ advanced AI-driven invoice management solutions, this partnership delivers a first-of-its-kind alliance for optimizing end-to-end P2P performance.

Benefits of the combined Medius and SourceDay solution include:

• Highest industry PO matching through 100% ERP data accuracy and advanced 3-way match rates yields fully autonomous, touchless invoice processing for both PO and non-PO invoices.
• Up to 80% efficiency gains for buyers through streamlined supplier collaboration, enabling up to 96% on-time delivery and scale without adding headcount.
• Up to 99.7% autonomous invoice processing of PO-backed invoices; up to 94.9% Autonomous Processing of non-PO invoices, eliminating manual intervention.
• Anomaly detection capabilities enhance fraud prevention and fill gaps in existing processes, establishing a more secure and reliable financial operation.
• Real-time notifications within workflow environments reduce platform-switching for buyers, enhancing operational efficiency.

“At Medius, we’re dedicated to empowering our customers with the best-in-class solutions, and our collaboration with SourceDay does exactly that,” said Jim Lucier, CEO of Medius. “One of the goals of any finance organization is having better supplier relationships that allow the business to get materials on time and then pay for them with minimal impact on the business. That’s what this partnership is all about.”

“Our partnership with Medius represents an unprecedented step forward in improved efficiency throughout the PO lifecycle to payment, helping customers achieve a higher level of operational and financial performance,” stated Tom Kieley, CEO of SourceDay. “The SourceDay and Medius collaboration not only optimizes procurement and payment processes, but significantly strengthens both supplier performance and reliability and reduces risk, setting the new standard for supply chain excellence and financial transparency in the industry.”

“SourceDay’s collaboration with Medius creates a significant advancement in direct material procure-to-pay,” said Xavier Olivera, Senior Analyst, Spend Matters. “This strategic partnership is poised to enhance accuracy and speed in managing the purchase order lifecycle, ensuring accurate, up-to-date ERP data, better on-time delivery, and more precise invoicing and alignment with final purchase orders for fully autonomous invoice processing. Especially advantageous for organizations in industries dealing with direct material, this collaboration amplifies operational efficiency and accuracy.”

The SourceDay and Medius partnership is now active, with solutions available to all current and prospective customers. For more information, please visit medius.com or sourceday.com.

For more information, please contact:
Dan Bird, Fight or Flight for Medius
[email protected], +44 7885 670798 / [email protected], +44 330 133 0985

Amy Crow at SourceDay, [email protected]

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• Develops insurance and banking industry cloud solutions
• Offers detailed financial transformations that include managed services
• Shares information on future projects, services and implementation and transformation strategies 

LONDON, April 30, 2024 /PRNewswire/ — The EY organization today announces an alliance between SAP Fioneer, a world-class software solution provider for financial services, and EY ifb SE to help facilitate software selection, business transformation, training and change management in the financial services industry.

With new tech-enabled market entrants to the financial services industry, the need to roll out large-scale financial transformations in the next decade is expected to increase. In addition, the modernization of finance functions continues to impact customers and clients. The EY–SAP Fioneer Alliance will help develop flexible commercial business models and industry-specific cloud solutions like the EY organization’s global insurance industry cloud initiative.

The EY–SAP Fioneer Alliance focuses on banking and insurance solutions and offerings for the CFO in areas such as financial products subledger, financial control, insurance collections and disbursements and sustainability solutions.    

Daniel Ruschmeier, EY–SAP Fioneer Alliance Leader at EY ifb SE, says:

“Through the EY–SAP Fioneer Alliance, EY teams are positioned to continue help strengthen the financial landscape through market finance transformations and industry cloud solutions. Furthermore, the established working relationships between SAP Fioneer’s global team and EY teams serve as a catalyst in the Alliance’s focus on joint solutions, implementations and engagements.”   

Christian Jaeger, SAP Fioneer Global Partner Management, says:

“Collaborations are a key component of SAP Fioneer’s DNA, and the EY-SAP Fioneer Alliance builds on years of successful work together on joint customer projects. We are committed to working closely with EY teams to bring about sustainable and impactful change in the financial services industry.”

For more information, visit ey.com/alliances.

EY exists to build a better working world, helping to create long-term value for clients, people and society and build trust in the capital markets.

Enabled by data and technology, diverse EY teams in over 150 countries provide trust through assurance and help clients grow, transform and operate.

Working across assurance, consulting, law, strategy, tax and transactions, EY teams ask better questions to find new answers for the complex issues facing our world today.

EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. Information about how EY collects and uses personal data and a description of the rights individuals have under data protection legislation are available via ey.com/privacy. EY member firms do not practice law where prohibited by local laws. For more information about our organization, please visit ey.com.

This news release has been issued by EYGM Limited, a member of the global EY organization that also does not provide any services to clients.

About SAP Fioneer

SAP Fioneer was launched in 2021 as a joint venture between global technology leader SAP and entrepreneurial investor Dediq to become the world’s leading provider of financial services software solutions and platforms.  With a broad ecosystem of partners, over 800 financial services customers and more than 1,000 employees, SAP Fioneer is a global business present in 17 countries across Europe, North and Latin America, Middle East and Asia-Pacific.

By combining the speed and agility of a start-up with the proven capabilities of a best-in-class software company, SAP Fioneer enables banks, insurance companies and challengers to run, transform and grow while meeting their need for speed, scalability, and cost-efficiency through digital business innovation, cloud technology, and solutions that cover banking and insurance processes end-to-end.

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