Global Lithium Resources (GL1) H2 2025 earnings summary

Executive summary

• The group focused on exploring and evaluating lithium resources, progressing the Manna Definitive Feasibility Study (DFS), and managing the Marble Bar and Manna Lithium Projects.

• The year saw significant board and management changes, including a reduction in board size and restructuring to address market downturns.

• A variation to the Canmax offtake agreement was finalized, and the company sought additional strategic partners for offtake and funding.

Financial highlights

• Net loss after tax was $3.85 million, down from $4.37 million in the prior year.

• Total income was $1.77 million, with interest income of $0.89 million and other income of $0.88 million.

• Total expenses decreased to $5.61 million from $6.82 million year-over-year.

• Basic and diluted loss per share was $0.015, compared to $0.017 last year.

• Cash and cash equivalents at year-end were $16.04 million, down from $26.85 million.

• Total assets were $169.26 million, with net assets of $168.07 million.

Outlook and guidance

• The Optimised DFS for the Manna Lithium Project is expected to be completed in the December quarter of 2025.

• Environmental approvals are targeted for 2026, with a final investment decision for Manna anticipated in late 2026.

• The group will continue exploration and evaluation activities on its tenements.