Add as a preferred source on GoogleSigma Lithium Shifts $100 Million Repayment Deadline to June 2027
The company says 93% of its debt profile was extended to June 2027. Its Grota do Cirilo operation in Brazil restarted Oct. 5, and Sigma kept its year-end 2027 production target.
An agreement with Synergy Capital shifts the repayment deadline for $100 million in Sigma Lithium senior secured debt to June 2027, six months after its prior December 2026 date, as the company resumes operations in Brazil.
The revised timetable covers an outstanding balance with Synergy Capital. The extension moves 93% of Sigma’s debt profile to June 2027. The loan’s interest rate remains the Secured Overnight Financing Rate (SOFR) plus 6.95% per year.
CEO and Co-Chairperson Ana Cabral said the extension provides more time for the company’s production ramp-up before the new deadline. “The six-month extension provides additional time to continue ramping up production ahead of the new maturity date,” Cabral said.
Operations at Grota do Cirilo restarted Oct. 5 after a halt that began Sept. 30. The company produced 7,090 tonnes of lithium oxide concentrate after the restart. The company maintained its target of reaching an annualized production rate of 330,000 tonnes by year-end 2027.
Total debt was $125 million as of Oct. 21, about 40% below the level two years earlier. Repayments since the second quarter of 2024 exceeded $90 million.
Separately, SGML closed at $7.83 on Nasdaq on Oct. 23, up 4.68% for the session. The closing price was recorded at 4 p.m. EDT (20:00 UTC).
Sigma plans to report third-quarter production, sales, realized prices, costs and cash by Nov. 13.
John Kim
John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.