Atlantic Lithium (ALL) H1 2025 earnings summary

Executive summary

• Secured all key permits for Ewoyaa Lithium Project, including Mine Operating, Land Use, Environmental, and Water Use Permits, with Mining Lease ratification pending parliamentary approval.

• Completed A$10m equity placement to fund project-critical activities, led by largest shareholder AIH.

• Ewoyaa Project confirmed as one of the largest hard rock spodumene concentrate mines globally, targeting 3.6Mt production over 12 years.

• Ongoing dispute with Piedmont Lithium over US$6m in development cost contributions; discussions and arbitration process underway.

Financial highlights

• Loss for the half-year ended 31 December 2024 was A$2.08m, compared to A$5.91m loss for the same period last year.

• Cash and cash equivalents at period end were A$11.8m, down from A$12.7m at 30 June 2024.

• Net assets increased to A$50.4m from A$35.5m at 30 June 2024.

• Basic and diluted loss per share was (0.3) cents, improved from (1.0) cent year-over-year.

• Net cash outflow from operating activities was A$2.87m for the half-year.

Outlook and guidance

• Awaiting parliamentary ratification of the Ewoyaa Mining Lease, the final step before construction and Project Final Investment Decision.

• Actively engaging with funding providers to secure project financing; confident in securing additional funds.

• Lithium demand expected to grow, with spodumene prices anticipated to rise during plant construction.