Alkemy Capital Investments (ALK) H1 2025 earnings summary

Executive summary

• Significant progress made on the Tees Valley Lithium refinery project, including securing planning and environmental permissions, feedstock agreements, and strategic partnerships.

• Agreement in principle with Wogen for supply of up to 20,000 tonnes of lithium carbonate per year for five years, supporting the first production train.

• Focus remains on securing mezzanine funding to complete FEED and purchase key long lead items.

• Alkemy aims to diversify into other battery minerals but immediate priority is funding for TVL.

Financial highlights

• Loss after taxation for the six months ended 31 July 2024 was £677,049, an improvement from £1,066,646 loss in the same period last year.

• Basic and diluted loss per share was 7.7p, compared to 14.8p in the prior year period.

• Administrative and project development expenses totaled £563,812 and £91,845 respectively for the period.

• Cash and cash equivalents at period end were £51,114.

Outlook and guidance

• Directors are confident necessary funding will be secured to continue operations and project development over the next 12 months.

• Ongoing discussions with multiple parties for project-level debt, strategic equity, or convertible lending facilities.