Atlantic Lithium (ALL) Q1 2026 TU earnings summary

Executive summary

• Concluded negotiations with the Government of Ghana on revised fiscal terms for the Ewoyaa Mining Lease; awaiting parliamentary ratification, the final permitting step for Ghana's first lithium mine.

• Advanced exploration in Côte d'Ivoire, reporting significant lithium-in-soil anomalies at Rubino and Agboville licences, with new spodumene pegmatite discoveries.

• Entered binding financing agreements for up to £28m over two years to support project advancement and maintain financial flexibility.

• Implemented further cost rationalisation, including headcount reduction and focus on critical project activities.

Financial highlights

• Cash on hand at quarter-end was A$4.1m, with no debt.

• Quarterly cash outflows included A$4.2m for exploration in Ghana and A$0.2m in Côte d'Ivoire.

• Net cash outflow from operating activities was A$1.3m; net cash used in investing activities was A$2.0m.

• Raised A$2.0m from initial share placement, with a further A$2.0m deferred.

Outlook and guidance

• Awaiting parliamentary ratification of the Ewoyaa Mining Lease, a key catalyst for project financing and development.

• Focused on advancing Ewoyaa towards a final investment decision and near-term production.

• Ongoing exploration in Côte d'Ivoire to define drill targets and support long-term growth.