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Standard Lithium posts quarterly report
Standard Lithium Ltd., a near-commercial lithium company, reported its financial and operating results for the fiscal first quarter of 2025, ending September 30, 2024. The company highlighted a major milestone: a conditional approval for a $225 million grant from the U.S. Department of Energy to support the South West Arkansas (SWA) project. This substantial grant will help fund the construction of the Central Processing Facility for Phase 1 of the project, which aims to produce 22,500 tonnes of battery-quality lithium carbonate annually by 2028. CEO David Park expressed the company’s commitment to advancing production and securing customer commitments to move the project forward.
David Park, who was appointed CEO on September 1, 2024, following the retirement of founder Robert Mintak, has played a crucial role in the company’s progress. Park, who previously worked with Koch Industries for 28 years, joined Standard Lithium as a strategic advisor in July 2023 and helped establish a partnership with Equinor. Under his leadership, the company has also transitioned to reporting in U.S. dollars, aligning with industry standards and reflecting its U.S.-denominated assets and operations.
The company reported strong financial health with $28.9 million in cash and $24.7 million in working capital as of September 30, 2024, and noted that it holds no term or revolving debt obligations. Additionally, Standard Lithium has made significant technological advancements, entering into an agreement with Koch Technology Solutions to implement the Li-Pro™ Lithium Selective Sorption (Li-pro LSS) technology. This partnership includes a unique performance guarantee for lithium recovery and water usage, contributing to a highly efficient lithium extraction process with 95.4% recovery efficiency.
Standard Lithium’s commercial-scale direct lithium extraction (DLE) efforts have exceeded expectations. The company has been successfully operating a DLE column since March 2024, demonstrating excellent contaminant rejection and consistent performance across nearly 10,000 operational cycles. This technological success supports the company’s ongoing efforts in the FEED stage of the SWA project, reinforcing its leadership in advancing sustainable lithium extraction in the Smackover Formation.
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Closings and Cancellations (January 10th)
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Thousands without power in Union, Columbia Counties
EL DORADO –
Winter weather sweeping through the region has left thousands of Entergy Arkansas customers without power. As of 7:30 a.m. on Friday, 1,510 customers in the El Dorado area and over 3,700 customers in Columbia County were reported to be without service.
Entergy Arkansas stated that crews are actively assessing the situation and working on restoration efforts where it is deemed safe. “It is on these assessments that we base our estimated restoration times. We will communicate these estimates with you and will provide updates as new information becomes available. Our crews will simultaneously be restoring service where it is deemed safe to do so,” the utility provider said in a statement.
Ice accumulation is a major factor in the outages, as it adds significant weight to power lines and tree limbs, causing them to stretch, bend, or snap. A half-inch of ice can increase the weight of a tree limb by up to 30 times, potentially bringing down power lines and causing widespread interruptions.
Entergy advised customers to turn off electrical appliances and heating units to avoid overloading the system once power is restored. Additionally, the company emphasized safety precautions for residents:
- Stay away from downed power lines, as live wires can be deadly. Report downed lines or damaged equipment by calling 1-800-9OUTAGE or 1-800-968-8243.
- Avoid trimming trees or removing debris near power lines, as this task should be left to power company crews or contractors.
- Keep clear of work zones where crews are making repairs.
- If using a generator, ensure it is installed by a licensed electrician and disconnected from the utility system to prevent safety risks.
Residents are encouraged to remain patient as restoration crews work to safely return service. For the latest updates, visit SouthArkansasNow.com or monitor Entergy Arkansas’ communications.
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Sanders deploys National Guard, allocates funds for winter storm response
LITTLE ROCK – In anticipation of severe winter weather expected to impact Arkansas on January 9, 2025, Governor Sarah Huckabee Sanders has issued Executive Order 25-01, declaring a state of emergency and allocating $150,000 from the Governor’s Disaster Response and Recovery Fund. This proactive measure aims to address potential dangers, hardships, and property damage caused by the approaching storm.
Emergency Funding and Assistance
The funds will be managed by the Arkansas Division of Emergency Management and can be used for both program and administrative costs to aid recovery efforts. The declaration emphasizes the potential for significant impacts on citizens and public infrastructure across the state, highlighting the need for supplemental assistance to local governments and communities.
Winter Weather Threat
According to the National Weather Service, the incoming winter storm is expected to bring heavy snow, freezing rain, and dangerous ice accumulations, creating hazardous travel conditions and potential power outages. The emergency declaration underscores the seriousness of the threat and prepares state resources to respond swiftly.
Governor’s Statement
“Severe winter weather poses a serious threat to the safety and well-being of Arkansans, as well as to public property throughout our state,” Governor Sanders stated. “This emergency declaration ensures we are ready to provide critical support where it is needed most.”
Preparedness Measures
The declaration follows warnings from meteorologists and emergency management agencies urging residents to prepare for the storm by stocking up on essential supplies, avoiding unnecessary travel, and staying informed about road conditions and weather updates.
This state of emergency enables rapid mobilization of resources to protect lives and property as Arkansas braces for potentially devastating winter weather.
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