Company: FEAV
Filing Date: 2025-02-03
Form Type: DEF 14A
Source: 0000950170-25-012391
Chunk: 109

Company: 5E Advanced Materials, Inc.
Filing Date: 2025-02-03
Form: DEF 14A
Chunk 109
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 |     |        | (20,953 | ) |     | N/A |      |   |
| Derivative gain (loss)                |     |                     |     749 |   |     |   |  11,743 |   |     |        | (10,994 | ) |     |     |  -94 | % |
| Interest expense                      |     |                     |  (6,199 | ) |     |   |  (6,854 | ) |     |        |     655 |   |     |     |  -10 | % |
| Other expense                         |     |                     |      (9 | ) |     |   |     (15 | ) |     |        |       6 |   |     |     |  -40 | % |
| Total non-operating income (expense)  |     |                     | (26,153 | ) |     |   |   6,083 |   |     |        | (32,236 | ) |     | *   |      |   |
| NET INCOME (LOSS)                     |     | $                   | (62,013 | ) |     | $ | (30,624 | ) |     | $      | (31,389 | ) |     |     |  102 | % |

*Represents a percentage change of greater than +/- 300%

Project expenses

Project expenses include drilling, plug and abandonment, site-preparation, engineering, consumables, testing and sampling, hydrology, permits, surveys, and other expenses associated with further progressing our Project. For the year ended June 30, 2024, Project expenses decreased $3.4 million, or 34%, versus the prior year. The decrease was primarily due to (i) a reduction in expenses incurred relating to our plug and abandonment program ($5.0 million) which occurred primarily during the first half of fiscal year 2023 and was related to closing historic wells required by our permits ahead of operating the SSF, (ii) reduced expenses incurred for engineering and technical reports that were not eligible for capitalization as construction in progress ($0.3 million), and (iii) reduced site-related costs ($0.1 million). These decreases were partially offset by increased well-field development costs ($1.4 million), and EPA compliance costs ($0.7 million).

General and administrative expenses

General and administrative expenses include professional fees, costs associated with marketing, on-going SEC and public company costs