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In addition to the other information set forth in this Form 10-Q, you should carefully consider the factors discussed in Part 1, Item 1A.
−Removed: “Risk Factors” in our amended Form-10, which could materially affect our business, financial condition, and future results.
−Removed: The risks described in our amended Form 10 are not the only risks that we face.
+Added: “Risk Factors”
+Added: in our annual report on Form 10-K, which could materially affect our business, financial condition, and future results.
+Added: The risks described in our Form 10-K are not the only risks that we face.
Additional risk and uncertainties not currently known to us or that we currently deem to be immaterial may also materially adversely affect our financial condition, operating results and cash flows.
−Removed: The following are new or modified risk factors that should be read in conjunction with the risk factors disclosed under Part 1, Item 1A.
−Removed: “Risk Factors” in the Company’s amended Form 10.
−Removed: Our inability to timely and successfully complete and operate the SSBF, and our inability to complete further technical and economic studies (including a bankable feasibility study) with respect to the Project, may have a material adverse impact on the Project.
−Removed: The SSBF is our proposed smaller scale boron facility which is expected to serve as a foundation for future design, engineering, and cost optimization for our large-scale complex focused on boron and lithium.
−Removed: We believe that the successful completion of the SSBF is an important path to obtaining critical information that will help enable us to optimize the efficiency, output and economic profile of our large-scale complex.
−Removed: Until the SSBF has been successfully completed and is operational, we will not have access to more refined inputs for estimating capital and operational expenditures required to complete further technical and economic studies (such as a bankable feasibility study) with respect to the Project.
−Removed: Such further technical and economic studies may be required to assist in determining the economic recoverability of mineral resources for the Project.
−Removed: In addition, our current abbreviated approach to process development provides for both pilot scale and large-scale process design for the Project to be undertaken in parallel.
−Removed: This approach has a higher risk of requiring re-work of certain parts, which could lead to potential delays and increased design costs.
−Removed: An abbreviated process development approach may also lead to technical risk, and higher capital and operating expenditures.
−Removed: We cannot assure you that the SSBF, and subsequently the Project, will be completed on schedule, within budget or at all, or achieve an adequate return on investment.
−Removed: Our inability to timely and successfully complete and operate the SSBF may delay or prevent the completion of further technical and economic studies (including any bankable feasibility study).
−Removed: Our ability to complete further technical and economic studies (including any bankable feasibility study) could materially and adversely impact the Company’s ability to secure additional funding and thereby delay or otherwise have a material adverse impact the entire Project.
−Removed: For example, a successfully completed and operating SSBF is required to complete a further technical and economic studies (such as a bankable feasibility study), including studies complying with the relevant Regulation S-K 1300 requirements to present reserves and otherwise determine commercial viability of the Project.
−Removed: The Company has begun working on further technical and economic analysis of the overall Project.
−Removed: This continued technical and economic analysis may lead to a separate technical study, an update to our initial assessment from October 2021 or a more comprehensive study (such as a bankable feasibility study).
−Removed: However, we currently cannot assure you of the form and scope of this continued technical and economic analysis, and we may conclude that the completion of any such further studies (including a bankable feasibility study) may not be commercially reasonable, necessary or possible at all.
−Removed: Even if such further technical and economic studies (including a bankable feasibility study) are completed on time, or at all, there is no guarantee that they will produce favorable outcomes.
−Removed: If the outcomes are not favorable, the Company may be unable to extrapolate a Regulation S-K 1300 compliant indicated or inferred resource to a Regulation S-K 1300 probable or proven reserve and to commercial viability.
−Removed: Additional exploration may be required which would require significant additional financing.
−Removed: Even with further exploration, there is no assurance that the Project will result in a profitable commercial mining operation.
−Removed: Any such further study (including a bankable feasibility study) may also indicate that substantial additional financing will be required to complete the Project.
−Removed: The Company cannot give any assurance that it will be successful in completing any such financing or that such financing will be available to it if and when required or on satisfactory terms, or at all.
Unregistered Sales of Equity Securities and Use of Proceeds.
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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.