Galan Lithium (GLN) Q3 2026 earnings summary

Executive summary

• Completed Phase 1 construction at Hombre Muerto West (HMW), transitioning from developer to producer, with plant testing finished and wet commissioning imminent.

• Raised A$40 million via institutional placement to fund Phase 1 expansion, working capital, and Greenbushes exploration.

• Built a brine inventory of ~10,000 t LCE, targeting first lithium chloride concentrate in H1 2026 and first shipment in H2 2026.

• Strengthened board with new Non-Executive Director and Company Secretary appointments.

• Recognized by Argentine authorities for receiving the RIGI investment incentive.

Financial highlights

• Closing cash balance at 31 March 2026 was A$40.7 million, with no debt.

• Net cash from operating activities for the quarter was -A$746k; investing activities used -A$6.8 million; financing activities provided A$33.8 million.

• Payments to related parties totaled A$0.4 million for the quarter.

Outlook and guidance

• Wet commissioning of the HMW plant to begin soon, with first lithium chloride concentrate expected in H1 2026.

• Initial production rate set at 4 ktpa LCE, with expansion to 5.2 ktpa LCE targeted for H1 2027.

• Holds permits for Phase 2 expansion to 21 ktpa LCE and plans for staged growth up to 60 ktpa LCE.