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Talison Lithium Returns To Profit in Q4

Talison Lithium Limited (TLH.TO) today announced results for the fiscal fourth quarter 2011 and fiscal year 2011. It reported Q4 net income profit of $7.9 million (EPS of $0.07) versus a loss of $34.4 million (-$1.12) in the previous corresponding period.

In its outlook, Talison said it expects production of lithium concentrate in fiscal Q1 2012 to be "in-line" with that of fiscal Q4 2011. The company expects sales of lithium concentrate to match production. "Price increases of up to 25% were announced by two other major lithium producers late in our fiscal fourth quarter. Talison secured price increases for two shipments in fiscal Q1 2012 and believes the price increases are indicative of a tightening in lithium supply while global demand remains strong," it said.

During fiscal 2012, Talison expects demand to remain strong for both technical-grade and chemical-grade lithium concentrate, and that it will produce and sell at capacity. "Capacity is expected to remain constrained until commissioning of the Stage 2 expansion in fiscal Q4 2012. Because the commissioning should occur late in the year, the additional capacity will not impact sales until fiscal 2013. However, the full year of contribution from the Stage 1 Expansion, combined with anticipated process improvements, should enable full year 2012 sales to equate to fiscal Q4 2011 sales on an annualized basis."

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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