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Talison Lithium’s Q2 Sales Soars 79%

Talison Lithium’s Q2 Sales Soars 79%

Talison Lithium (TSE:TLH), one of the largest lithium producers in the world, said Monday its second quarter sales increased 79% year-over-year as production and tonnage sold increased. 

Sales for the period came in at roughly $32.9 million, when converted from the original reporting currency of Australian dollars.  The two currencies are about equal in value at the time of this report.   

Meanwhile, second quarter EBITDA increased 63% year-over-year to $7.2 million.  

The company did not report net earnings.

For the second quarter ended December, the company produced 83,548 tonnes of lithium concentrate, a 40% year-over-year increase, and sold 97,559 tonnes.  The sales volume was 54% higher than the year-ago period.

For the six months to date, the company had an EBITDA of $12 million, a 26% year-over-year increase.  Sales for the period increased 53% year-over-year to $54 million. 

Looking ahead, the company now expects lithium concentrate production to exceed 48,000 tonnes lithium carbonate equivalent.  The improved outlook is due to a successful production process improvement and early commissioning of the Stage 1 expansion at the Greenbushes Lithium Operations in Western Australia .

Talison also started the first drilling program at its Salares 7 Project in the Atacama Province, Region III, in Chile.

The company’s shares have edged upwards by roughly 0.2% to trade at $6.42 as of 2:42 pm EST.

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Talison Lithium Timeline

February 14 2011

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