Stardust Power Inc Stock Price, News & Analysis

Stardust Power (NASDAQ: SDST) received an air quality construction permit from the Oklahoma Department of Environmental Quality for its Muskogee lithium refinery on January 20, 2026. This permit is the final major permit needed for construction and commissioning and materially reduces regulatory timeline risk for the project. The facility is designed as a minor source under air regulations, uses a closed-loop water system with no wastewater discharge permit required, and is expected to produce up to 50,000 metric tons per annum of battery-grade lithium carbonate pending project financing and FID.

Stardust Power (NASDAQ: SDST) engaged 38 North Solutions to support federal government relations, funding strategy, and critical-minerals engagement as the company advances its Muskogee lithium refinery project.

Key disclosed facts: FEL-3 engineering complete, construction permitting in hand, feedstock sources available, an illustrative Oklahoma incentive analysis showing up to $257 million of potential support, and a $27 million Muskogee TIF approved in May 2024.

38 North will advise on federal incentives, agency engagement, and policy opportunities to help align government support with project milestones.

Stardust Power (NASDAQ: SDST) executed a Securities Purchase Agreement for up to $15.0 million in senior secured convertible debt to fund early-stage construction work at its lithium refinery in Muskogee, Oklahoma.

The facility includes an initial $4.0 million drawdown, a 24-month term, an initial repayment moratorium, and an option to repay in cash or common stock. The company intends this as near-term development and bridge financing while pursuing asset-level equity and debt to fund a 50,000 metric ton per annum refinery.

Stardust Power (NASDAQ: SDST) announced Black & Veatch completed an independent engineering "red flag" review of its FEL 3 study for the Muskogee, Oklahoma lithium carbonate refinery on Dec. 10, 2025.

The IE report found low technical and design risk, confirmed the Muskogee site is suitable with municipal power, gas and water, validated a Phase 1 target of 25,000 mtpa and the 50,000 mtpa ultimate design, and judged the 24-month construction and 12-month ramp-up timelines achievable. Procurement, permitting progress, QA and contractor vetting were assessed as reasonable and aligned with industry practice.

Stardust Power (Nasdaq: SDST) reported Q3 2025 results on November 13, 2025, and provided operational updates toward its Muskogee, Oklahoma lithium refinery.

Key points: FEL-3 engineering defines Phase 1 at 25,000 mtpa (expandable to 50,000 mtpa) with estimated CapEx ≈ $500 million—about $200 million below the prior estimate—and a 24-month construction timeline with a 90% probability of cost achievement. Subsequent to quarter end, the company secured 13,500 mt LCE feedstock via two supply agreements. Financially, Stardust is debt-free, held $1.6 million cash at 9/30/2025 and posted a $4.5 million net loss in Q3 2025, improved from $10.1 million year-ago.

Stardust Power (NASDAQ: SDST) will release its third quarter 2025 financial results after market close on Thursday, November 13, 2025. A conference call with CEO Roshan Pujari and CFO Uday Devasper is scheduled for 5:30 PM ET on November 13, 2025 to discuss the results.

Participants must register via the provided participant link to receive dial-in details and a unique PIN; a live audio webcast will also be available via the provided webcast link. Attendees are asked to log in at least 15 minutes early for instructions.

Stardust Power (NASDAQ: SDST) signed a Letter of Intent with Mandrake Resources to secure 7,500 metric tons per annum (LCE) as lithium chloride from Mandrake’s Utah Lithium Project to feed Stardust Power’s Muskogee, Oklahoma refinery.

The Agreement is for a 12-year term with an optional 6-year extension (up to 18 years), is non-binding, and is subject to a definitive purchase agreement. Mandrake reports an Inferred Resource of 3.3 million tonnes LCE at the Utah project. Stardust cites this supply as supporting its Final Investment Decision, financing options, and centralized U.S. supply-chain strategy.

Stardust Power (Nasdaq: SDST) announced that Nasdaq has confirmed the company is in compliance with continued listing requirements as of Oct 28, 2025. The notice confirms there are no outstanding deficiency matters and that the company satisfies the requisite criteria for continued listing on the Nasdaq Capital Market.

A previously scheduled Nasdaq Hearings Panel appearance for Nov 4, 2025 was cancelled and the matter is closed. The company’s common stock and warrants will continue to trade under the tickers SDST and SDSTW. The company says it is advancing project milestones toward a Final Investment Decision, which it describes as de-risking progress toward construction of a large U.S. lithium refinery.

Stardust Power (NASDAQ: SDST) executed a non-binding Letter of Intent with Prairie Lithium to secure 6,000 metric tons per annum (LCE) of lithium chloride feedstock for its Muskogee, Oklahoma refinery, with initial deliveries as early as 2027. The Agreement spans an initial six-year term with two six-year extension options (up to 18 years) and supports the company's move toward a Final Investment Decision and major construction.

Prairie Lithium’s Preliminary Economic Statement cites up to 17,000 tpa capacity; feedstock deliveries to the Port of Muskogee Free Trade Zone enable local storage, tariff advantages, and use in commissioning and ramp-up. The Agreement is non-binding and subject to a definitive contract.