Standard Lithium Ltd. (SLI) Advances Projects Despite Wider Q3 Loss

Standard Lithium Ltd (NYSE:SLI) is one of the Canadian penny stocks to buy right now. On November 12, Roth MKM analyst Joseph Reagor reiterated a Buy rating on Standard Lithium Ltd., maintaining a price target of $5.50. The call followed the company’s November 10 earnings release, where Standard Lithium reported a net loss of $6.1 million, wider than the $4.8 million loss in the same quarter last year. Despite the miss, shares edged higher as investors focused on key operational milestones.

During the quarter, Standard Lithium completed and published a Definitive Feasibility Study for its South West Arkansas (SWA) Project, confirming its cost-effectiveness and potential as the company’s first commercial-scale development. The firm also announced record lithium-in-brine grades in North America, strengthening the outlook for its Franklin Project in East Texas.

To support growth, the company also closed an upsized $130 million underwritten public follow-on equity offering. It plans to use net proceeds from the offering to fund capital expenditures at the South West Arkansas Project and the Franklin Project in East Texas. Standard Lithium exited the quarter with cash and working capital of $32.1 million and $29.1 million, respectively.

“Following quarter close, we took a further de-risking step by completing a capital raise, supported by strong investor demand, that will put us in a position to reach FID at SWA, as well as progress our Franklin and other projects in East Texas. Looking ahead, we expect to provide multiple updates in the coming months as we seek to conclude our ongoing project financing and customer off take processes, finalize selection of our key SWA Project vendors and approve FID before beginning construction at SWA in 2026,” said David Park, Chief Executive Officer.

Standard Lithium Ltd. (NYSEA:SLI) is a company focused on developing lithium brine projects in the United States to produce battery-grade lithium. It uses a proprietary Direct Lithium Extraction (DLE) and purification process to extract lithium from brine resources, particularly in the Smackover Formation in Arkansas and Texas.

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Disclosure: None. This article is originally published at Insider Monkey.