Delta Lithium (DLI) H2 2024 earnings summary

Executive summary

• Achieved significant milestones with two maiden Mineral Resource Estimates and two upgrades at Mt Ida and Yinnetharra projects, despite lithium market volatility.

• Raised over $70 million in November, strengthening the balance sheet and enabling aggressive exploration and development.

• Mt Ida project is shovel-ready with a substantial gold resource (752,000 oz) and a growing lithium resource (14.6Mt @ 1.2% Li₂O).

• Yinnetharra project delivered a maiden resource of 25.7Mt @ 1.0% Li₂O and expanded tenure to 1,769km² through joint ventures.

Financial highlights

• Operating loss after tax for FY24 was $12.5 million, compared to $8.5 million in FY23.

• Net operating cash outflows were $4.8 million (FY23: $4.4 million).

• Exploration investment totaled $61 million, up from $36 million in FY23.

• Raised $69.6 million in capital and received $3.5 million from option exercises.

• Cash balance at year-end was $86.7 million.

Outlook and guidance

• Well-funded to continue exploration and development at Mt Ida and Yinnetharra.

• Mt Ida gold resource offers short- to medium-term monetization potential, while lithium remains the long-term focus.

• Ongoing exploration and joint ventures expected to further expand resources and regional footprint.