Talison Lithium Limited
TSX: TLH
Apr 19, 2011 09:09 ET
Lithium Production up 33%; Sales up 74%
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% |
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 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.
Talison Lithium Limited
Todd Hilditch
Investor Relations Director
604 443 3831
Todd.Hilditch@talisonlithium.com
www.talisonlithium.com
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