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  • News: Talison Lithium production and sales increasing dramatically. 0 comments
    Apr 29, 2011 10:55 AM | about stocks: LIT, TLTHF, RDNAF, TSLA, GM, NSANF, F, DDAIF, TM, HMC, HYMLF, SQM, FMC, OROCF, CLQMD, LACDF, AONEQ, BYDIF

    Talison Lithium Reports Record Sales and Production Results for Third Quarter 2011

     
    Talison Lithium Limited
    Talison Lithium Limited

    TSX: TLH
    Apr 19, 2011 09:09 ET
     Lithium Production up 33%; Sales up 74%

    PERTH, WESTERN AUSTRALIA--(Marketwire - April 19, 2011) - Talison Lithium Limited ("Talison") (TSX:TLH) announces its preliminary production and sales results for the three and nine months ended March 31, 2011 from its Greenbushes lithium operations in Western Australia (the "Greenbushes Lithium Operations").For the three months ended March 31, 2011, production increased 33%, and sales increased 74% over the three months ended March 31, 2010.


    Greenbushes Lithium Operations Production Results

    Record production was achieved from the Greenbushes Lithium Operations during the three months ended March 31, 2011 (the "Third Quarter")as a result of the completion of the Stage 1 expansion of the Greenbushes Lithium Operations in December 2010. Talison continues to produce at capacity and sell 100% of its production from the Greenbushes Lithium Operations.


    Key Operating Statistics
      Three Months Ended March 31, 2011 Three Months Ended March 31, 2010 Percentage Change Nine Months Ended March 31, 2011 Nine Months Ended March 31, 2010 Percentage Change
    Production* 88,315 66,180 33% 252,592 190,912 32%
    Sales* 97,001 55,864 74% 247,085 168,559 47%
    *Tonnes of lithium concentrate


    Sales of lithium concentrate from the Greenbushes Lithium Operations in the Third Quarter increased 74% from the corresponding period in the prior year, with 97,001 tonnes of lithium concentrate (approximately 14,400 tonnes of lithium carbonate equivalent) sold.

    Sales for the nine months ended March 31, 2011 were 247,085 tonnes of lithium concentrate (approximately 36,600 tonnes of lithium carbonate equivalent), representing a 47% increase over the corresponding period in the prior year. 

    The increase in sales resulted from strong demand from customers for lithium concentrate and the increased production capacity at the Greenbushes Lithium Operations following completion of the Stage 1 expansion in December 2010.

     Production during the Third Quarter increased 33% over the corresponding period in the prior year to 88,315 tonnes of lithium concentrate (approximately 13,100 tonnes of lithium carbonate equivalent).
    Production for the nine months ended March 31, 2011 was 252,592 tonnes of lithium concentrate (approximately 37,500 tonnes of lithium carbonate equivalent), representing a 32% increase over the corresponding period in the prior year.

    Third Quarter 2011 Financial Results
    Talison will release its financial results for the three and nine months ended March 31, 2011 prior to the opening of the market on Thursday, May 12, 2011.
    Peter Oliver, Chief Executive Officer and Managing Director of Talison will host a conference call on Tuesday, May 17, 2011 at 9:00 a.m. EDT (6:00 a.m. PDT) to discuss the results.
    Teleconference and replay call details will be distributed in conjunction with the financial results.

    About Talison
    Talison is a leading global producer of lithium
    . Talison mines and processes the lithium bearing mineral spodumene at the Greenbushes Lithium Operations in Western Australia. In addition, Talison explores for lithium at the Salares 7 lithium project made up of seven salars located in Chile. Talison has an extensive, well established global customer network and a leading position in the growing Chinese market.

    Cautionary Note Regarding Forward-Looking Statements
    Certain information contained in this press release, including any information as to Talison's strategy, projects, plans, prospects, future outlook, anticipated events or results or future financial or operating performance may constitute "forward-looking statements" within the meaning of Canadian securities laws. All statements, other than statements of historical fact, are forward-looking statements. Forward-looking statements can often, but not always, be identified by the use of words such as "plans", "expects", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "predicts", "potential", "continue" or "believes", or variations (including negative variations) of such words; or statements that certain actions, events or results "may", "could", "would", "should", "might", "potential to", or "will" be taken, occur or be achieved or other similar expressions concerning matters that are not historical facts. Readers are cautioned that forward-looking statements are not guarantees of future performance. All of the forward-looking statements made or incorporated in this press release are qualified by these cautionary statements.
    Forward-looking statements are necessarily based on a number of factors, estimates and assumptions that, while considered reasonable by Talison, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Such factors, estimates and assumptions include, but are not limited to, those described in the unaudited interim consolidated financial statements of Talison and the related notes thereto as at December 31, 2010 and for the three and six month interim periods ended December 31, 2010 (the "Financial Statements"), and the Company's annual information form for the year ended June 30, 2010 dated January 12, 2011 (the "Annual Information Form"), each of which can be found on Talison's SEDAR profile at www.sedar.com. While the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect and actual results may vary.
    Although Talison has attempted to identify statements containing important factors that could cause actual actions, event or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking information contained herein are made as of the date of this press release based on the opinions and estimates of management on the date statements containing such forward looking information are made. Except as required by law, Talison disclaims any obligation to update any forward-looking information, whether as a result of new information, estimates or opinions, future events or results or otherwise. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information.
    For more information, please contact
    Talison Lithium Limited
    Todd Hilditch
    Investor Relations Director
    604 443 3831
    Todd.Hilditch@talisonlithium.com
    www.talisonlithium.com

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