08:23 AM EDT, 05/21/2025 (MT Newswires) -- 5E Advanced Materials ( FEAM ) said Wednesday it has finished equipment testing for all major commercial processes at its boron production site in California.

The company said it partnered with Fluor and external labs to validate systems, including crystallization, impurity removal, reverse osmosis, and drying.

The results support an upcoming update to the project's technical report and enable a shift to front-end engineering design, 5E Advanced Materials ( FEAM ) said.

Shares of the company dropped by more than 9.7% in recent Wednesday premarket activity.