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SÃO PAULO - Sigma Lithium Corporation (TSXV/NASDAQ: SGML, BVMF: S2GM34), a significant player in the global lithium market with a market capitalization of $1.2 billion, announced today the appointment of Junaid Jafar as a new independent member of its Board of Directors. The announcement comes as the company’s stock has experienced a 7.3% decline over the past week, though InvestingPro analysis suggests the stock is currently trading below its Fair Value. Jafar currently holds the position of Chief Investment Officer at the Al Muhaidib Investment Office, part of the Al Muhaidib Group, a major private conglomerate based in Dammam, Saudi Arabia.
Jafar brings a wealth of experience in capital allocation and investment management across various markets, with nearly 30 years of expertise in the field. His previous roles include positions at J.P. Morgan, Fitch Ratings, and Janus Henderson in London, as well as Emerging Markets Partnership and Tadhamon Capital in Bahrain. Jafar is also a Fellow of the Institute of Chartered Accountants England & Wales and an alumnus of Middlebury College in Vermont, USA.
Sigma Lithium’s leadership expressed confidence that Jafar’s inclusion on the board will add valuable insight and contribute to the company’s strategic growth initiatives. The company, which achieved impressive revenue growth of 48.4% in the last twelve months, is currently advancing its operations to meet the rising demand for lithium, essential for electric vehicle batteries, with plans to double production capacity by the end of 2025 and begin planning a third industrial production line. InvestingPro data reveals 10+ additional insights about Sigma’s growth potential and financial health, available to subscribers.
Jafar’s appointment follows the resignation of Mr. Bechara Azar, who stepped down for personal reasons after contributing significantly to Sigma’s transformation into a leading industrial lithium producer.
In addition to the board appointment, Sigma Lithium has scheduled the release of its audited financial results for the year ended December 31, 2024, on March 31, 2025, before market opening. A conference call to discuss the results will be held on the same day at 8:00 AM ET.
Sigma Lithium has made a name for itself in the lithium production industry by operating one of the world’s largest lithium oxide complexes and adhering to stringent environmental and social sustainability practices. The company’s Grota do Cirilo Operation in Brazil is known for producing "Quintuple Zero Green Lithium," emphasizing a commitment to net-zero carbon and environmentally conscious production processes. Despite its operational achievements, InvestingPro data shows the company faces financial challenges, with a current ratio of 0.84 and an overall Financial Health Score rated as ’Weak’, highlighting the importance of monitoring its financial metrics closely.
This news is based on a press release statement from Sigma Lithium Corporation.
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