The following is a summary of the Jervois Global Limited (JRVMF) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Jervois Global ended Q4 with an operating cash flow of US$4.7 million from its Finland unit, accumulating a total of US$46.1 million for the full year.

• Cobalt prices suffered a dip throughout the quarter, dropping from US$14.50 to US$13 per pound, but demand escalated by roughly 15%.

• The firm concluded the year with a cash balance of US$45.4 million.

• They made a repayment of about US$5 million on the Mercuria loan, reducing the loan balance to $44 million by the end of the year.

• Jervois Global experienced sales volumes of 5,474 metric tons for 2023, slightly above the midpoint of their published guidance range.

Business Progress:

• Jervois Global carried out negotiations on several partnership transactions with the objective of sharing portfolio holding costs.

• An uptick in customer inquiries for Inflation Reduction Act compliant cobalt has been observed set to commence from 2025.

• The firm's partnership with the Department of Defense continues to advance, fully funding drilling activities in Idaho and a cobalt refinery Bankable Feasibility Study.

• The company is concentrating its efforts on cost reduction and asset improvement initiatives for 2024, maintaining sustainability and self-reliance across its commodity and asset development cycle.

• Jervois Global is working closely with legislators to establish a price floor for US source cobalt.

• By 2024, Jervois Global aims to optimize cash generation, especially from its Finland unit, and to deliver on its major portfolio initiatives, despite short-term cobalt market weakness.

• The Company perceives an uplift in its 2024 outlook as several sectors continue to trend upwards.

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