Standard Lithium (TSX-V:SLI) has established a US$50 million ($70.87 million) at-the-market (ATM) equity program as it works towards a final investment decision (FID) for its South West Arkansas (SWA) Lithium Project in Arkansas, US.
The company may issue shares periodically through the program at prevailing market prices, with the timing and volume of any sales at its discretion.
Standard Lithium plans to use the proceeds to advance SWA towards construction, fund exploration, and development in East Texas, including at the Franklin Lithium Project, and provide working capital.
The new facility follows a US$50 million ATM program established in August 2025. Standard Lithium had raised US$36 million through the issue of 8.98 million shares under that program as of 7 August, leaving approximately US$14 million available.
The company intends to use the remaining capacity before commencing sales under the new program.
Standard Lithium reported US$137.3 million in cash and US$137.1 million in working capital at 30 June, with no term or revolving debt obligations.
The developer notes it has completed two of four primary requirements preceding an FID at SWA. These include concluding a federal environmental review and awarding construction contracts covering the central processing facility and upstream well field.
The US Department of Energy issued a finding of no significant impact following its review under the National Environmental Policy Act, without requiring additional mitigation measures. The assessment was connected to a US$225 million Department of Energy grant awarded in January 2025.
CEO David Park says the company continues to target an FID and the start of construction this year.
“We will provide additional updates as we look to finalise the customer offtake and project financing processes, and our expectation for this year remains to approve FID and begin construction at the SWA project,” Park says.
Smackover Lithium, Standard Lithium’s partnership with Equinor (NYSE:EQNR), is in discussions with prospective customers and aims to conclude offtake agreements during the third quarter.
Construction is planned to begin following the investment decision, with first production of battery-quality lithium carbonate targeted for 2029. Standard Lithium also expects to release a preliminary economic assessment for Franklin during the third quarter.
Write to France Pinzon at Mining.com.au
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