Brazil Mining Regulator Confirms Sigma Lithium (SGML) Sites Safety

Sigma Lithium Corporation (NASDAQ:SGML) is one of the best high-upside materials stocks to buy. On February 4, Brazil’s mining regulator issued an official technical statement confirming the safety of the waste piles at the sites where Sigma Lithium Corporation (NASDAQ:SGML) operates. After conducting drone overflights and visual assessments on January 20, the regulator said that it “did not identify geotechnical anomalies indicative of an imminent risk of global instability in the inspected structures.”

Meanwhile, on February 3, BofA Securities upgraded Sigma Lithium Corp. (NASDAQ:SGML) from Underperform to Neutral and set a price target of $14, after the company announced the resumption of its mining activities. According to the analyst, liquidity risk remains for Sigma Lithium Corp. (NASDAQ:SGML) as it continues through an estimated three-month ramp period before reaching sellable nameplate production, during which cash generation would rely on “lower margin tailings sales and potential capital injections.”

Sigma Lithium Corporation (NASDAQ:SGML) engages in the exploration and development of lithium deposits in Brazil, through which it serves the lithium-ion battery supply chain for the electric vehicle industry.

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