Core Lithium (CXO) Q4 2024 earnings summary

Executive summary

• New CEO and CFO introduced, both with extensive mining sector experience, emphasizing operational discipline and cost control.

• Operations safely paused and maintained in a restart-ready state, with a focus on minimizing care and maintenance costs.

• Strong relationships with customers, government, and community highlighted as key strengths.

Financial highlights

• Q4 FY24 saw record shipments of 33,000 tons of spodumene concentrate, generating $41.7 million in revenue.

• Full-year shipments totaled 97,400 tons of concentrate and 66,000 tons of fines, with total receipts from customers at $108 million.

• Q4 unit operating cost was $644/ton, the lowest of the year; full-year unit cost was AUD 1,396/ton, within revised guidance.

• Ended the year with AUD 87.6 million in cash and no debt.

Outlook and guidance

• Operational restart plan under development, targeting readiness and potential restart in the first half of calendar 2025, subject to market conditions and board approval.

• Exploration budget for FY25 set at AUD 8–9 million, aiming to build lithium mineral resources.

• Focus on detailed cost base review and sustainable operating models for future restarts.