Company: FEAV
Filing Date: 2025-01-24
Form Type: PRE 14A
Source: 0000950170-25-008828
Chunk: 130

Company: 5E Advanced Materials, Inc.
Filing Date: 2025-01-24
Form: PRE 14A
Chunk 130
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 |
|                                      |     |               |     |                  |     |                |  79,057 |   |     |          | 79,339 |   |
| Less accumulated depreciation        |     |               |     |                  |     |                | (10,434 | ) |     |          | (5,467 | ) |
| Properties, plant and equipment, net |     |               |     |                  |     | $              |  68,623 |   |     | $        | 73,872 |   |

The Company recognized depreciation expense of $5.0 million and $47 thousand for the three months ended September 30, 2024 and 2023, respectively.

5. Asset Retirement Obligations

The change in the Company’s asset retirement obligations during the period presented and the balance of its accrued reclamation liabilities at the end of the period are set forth below.

|                                                   |     | Three months ended 
 September 30, 2024 |     |
|:--------------------------------------------------|:----|:-------------------|----:|
|                                                   |     | -in thousands      |     |
| Asset retirement obligation — beginning of period |     | $                  | 795 |
| Obligation incurred during the period             |     |                    |  23 |
| Revisions to previous estimates                   |     |                    |   — |
| Accretion                                         |     |                    |  19 |
| Asset retirement obligation — end of period       |     | $                  | 837 |

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6. Accounts Payable and Accrued Liabilities

Accounts payable and accrued liabilities consisted of the following at the end of each period presented.

|                                          |     | September 30,  
 2024           
 (in thousands) |       |     | June 30, 
 2024     |       |
|:-----------------------------------------|:----|:---------------|------:|:----|:---------|------:|
| Accounts payable - trade(1)              |     | $              | 1,481 |     | $        |   854 |
| Accrued expenses                         |     |                | 1,258 |     |          |   603 |
| Accrued capital expenditures             |     |                | 2,944 |     |          | 3,309 |
| Accrued payroll                          |     |                |   702 |     |          | 2,