Leo Lithium (LLL) Q1 2025 TU earnings summary

Executive summary

• Completed divestment of the Goulamina Lithium Project and distributed 17.2 cents per share to shareholders.

• Strategic focus shifted to acquiring a new lithium asset and seeking re-quotation on the ASX.

• Workforce rationalisation and associated one-off costs completed post-divestment.

• Ongoing screening of lithium opportunities globally, with advanced discussions underway.

Financial highlights

• Closing cash balance at 31 March 2025 was A$57.6 million, down from A$269.3 million at 31 December 2024.

• Distributed A$207.2 million to shareholders, including an unfranked dividend of A$189.9 million and a capital return of A$17.3 million.

• Interest income of A$2.4 million earned during the quarter.

• One-off staff-related payments totaled A$2.0 million, with a net cost of A$1.2 million after joint venture contributions.

Outlook and guidance

• If no acquisition is significantly progressed by Q3 2025, Tranche 2 funds (US$171.2 million) will be returned to shareholders in H2 2025.

• Any major acquisition using Tranche 2 funds will require shareholder approval.

• Ongoing engagement with multiple lithium asset owners; no transaction finalized yet.