Delta Lithium (DLI) Q4 2025 TU earnings summary

Executive summary

• Completed demerger and IPO of Mt Ida Gold asset into Ballard Mining Limited, unlocking $39M in value and providing Delta shareholders with direct exposure to Ballard's upside.

• Delta retains a 46% shareholding in Ballard, ensuring continued exposure to the gold asset's growth.

• Expanded Yinnetharra Lithium and Tantalum Project by acquiring Aston and Mortimer Hills projects, increasing total tenure to over 3,100km².

• Ended the quarter with $58.5M in cash and $1.75M in listed investments, positioning for further lithium exploration and development.

Financial highlights

• Cash and cash equivalents at quarter end: $58.5M, down from $64.1M in the previous quarter.

• Net cash used in operating activities for the quarter: $(1.7)M; net cash used in investing activities: $(3.9)M.

• Proceeds from disposal of investments: $1.2M during the quarter.

• Exploration and evaluation expenditure for the quarter: $4.49M.

• No substantive mining production or development activities during the quarter.

Outlook and guidance

• Focus remains on advancing lithium exploration and resource growth at Yinnetharra, with systematic geochemical sampling, mapping, and upcoming drill programs.

• Ballard Mining, now independent, will pursue aggressive gold exploration and development at Mt Ida, with Delta retaining significant upside.

• Delta's strong cash position supports ongoing exploration and feasibility work.