5E Advanced Materials Inc. announced the selection of Fluor Corporation as the Company?s engineering, procurement, and construction (EPC) services provider. The initial scope of Fluor will be to lead FEL-2 which will directly feed into the upgrading of the Company?s current S-K 1300 technical document into a Pre-feasiblity Study (PFS) upon completion. On May 11, 2023, the Company released the results of its S-K 1300 technical document on its 5E Boron Americas Complex located in Fort Cady, California.

Highlights of that study include Measured, Indicated and Inferred Resource with 13.97 million short tons boric acid and 0.31 million short tons of Lithium Carbonate (LCE), USD 101.2 million EBITDA and 62.1% EBITDA margin in Fiscal Year 2027, Post-tax NPV8 of US$2.4 billion and IRR of 22.6% and Phase 1 targets production of 90,000 short tons of boric acid and 1,100 short tons of lithium carbonate with a targeted go-live date of the H2 2026.