Talison Lithium Reports Q2 Sales Soared 79%

Feb.15.11 | About: Talison Lithium (TLTHF)

Talison Lithium (OTC:TLTHF), 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 edged up Monday to end the day at $6.53.

Disclosure: None