Company: FEAV
Filing Date: 2025-02-13
Form Type: 10-Q
Source: 0000950170-25-019943
Chunk: 7

Company: 5E Advanced Materials, Inc.
Filing Date: 2025-02-13
Form: 10-Q
Item: Item 8
Chunk 7
---
057

        79,339

        Less accumulated depreciation

        (15,420
        )

        (5,467
        )

        Properties, plant and equipment, net

        $
        63,637

        $
        73,872

      The Company recognized depreciation expense of approximately $5.0 million and $48 thousand for the three months ended December 31, 2024 and 2023, respectively. The Company recognized depreciation expense of $10.0 million and $96 thousand for the six months ended December 31, 2024 and 2023, respectively.

11

5. Asset Retirement ObligationsThe 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.

        Six months ended

        December 31, 2024

        (in thousands)

        Asset retirement obligation — beginning of period
         
        $
        795

        Obligation incurred during the period

        23

        Revisions to previous estimates

        —

        Accretion

        39

        Asset retirement obligation — end of period
         
        $
        857

6. Accounts Payable and Accrued LiabilitiesAccounts payable and accrued liabilities consisted of the following at the end of each period presented.

        December 31,

        June 30,

        2024

        2024

        (in thousands)

        Accounts payable - trade(1)
         
        $
        1,539

        $
        854

        Accrued expenses

        675

        603

        Accrued capital expenditures

        3,402

        3,309

        Accrued payroll

        675

        2,263

        Accrued interest

        2,990

        2,496

        Current portion of debt

        43

        42

        Accounts payable and accrued liabilities
         
        $
        9,324

        $
        9,567

      (1)Includes $0 thousand and $235 thousand related to capital expenditures as of December 31, 2024 and June 30, 2024, respectively.

7. DebtLong Term DebtLong-term debt consisted of the following at the end of each period presented.

        December 31,

        June 30,

        2024

        2024

        (in