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HESPERIA, CA - 5E Advanced Materials, Inc. (NASDAQ:FEAM)(ASX:5EA) announced a significant increase to the mineral resources at its Fort Cady Project in California's Mojave Desert, according to a press release statement. The company, currently valued at approximately $95 million, has seen its stock decline over 71% year-to-date, trading at $4.24, well below its 52-week high of $24.84.
The company reported that its measured and indicated boric acid resources increased by 61% to 28.3 million tons from 17.5 million tons, with a grade of 8.09% B2O3. Measured resources saw the largest jump, increasing 170% to 9.1 million tons.
The resource upgrade also included a 54% increase in lithium carbonate equivalent (LCE) resources to 328,000 tons with 0.17% LCE.
Based on the company's planned first phase of production at 130,000 short tons per year, the upgraded resource represents a potential 217-year resource life, excluding inferred resources.
"Combined with boron's recent designation as a U.S. critical mineral, this resource upgrade reinforces Fort Cady's potential to anchor a secure domestic boron supply chain for generations to come," said Paul Weibel, CEO of 5E Advanced Materials, in the statement.
The company reported that it now holds 28 federal lode claims encompassing the entire project mineralization after staking additional claims in July 2025 and filing them with the U.S. Bureau of Land Management in August.
The mineral reserves and project economics disclosed in the company's Preliminary Feasibility Study Technical Report Summary remain unchanged, with only the mineral resource estimates being updated.
5E Advanced Materials is focused on becoming a supplier of refined borates and advanced boron materials for industries including renewable energy, defense, and other critical material applications. The Fort Cady Project is located in Southern California and has been designated as Critical Infrastructure by the U.S. Department of Homeland Security.
In other recent news, 5E Advanced Materials held its Q1 2025 earnings call, focusing on its strategic initiatives and market position. During the call, the company discussed its operational achievements and provided future guidance, emphasizing a 2026 Final Investment Decision for its Fort Cady project. Despite these announcements, the company's stock experienced a decline, although it saw a slight recovery in aftermarket trading. The earnings call did not provide specific figures for earnings or revenue, but the focus on strategic priorities suggests the company is positioning itself for future growth. No mergers or acquisitions were mentioned, and there were no reports of analyst upgrades or downgrades at this time. These developments highlight the company's ongoing efforts to strengthen its market presence in the boron industry.
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