Atlantic Lithium (ALL) Q2 2026 TU earnings summary

Executive summary

• Entered into a Scheme Implementation Deed with Zhejiang Huayou Cobalt Co., Limited for a proposed all-cash acquisition valuing the company at approximately US$210 million, representing a 26.6% premium to the pre-announcement share price.

• Board and major shareholders unanimously recommend the Scheme, with a shareholder meeting expected in November 2026 and implementation targeted for December 2026.

• Novation Agreement allows Huayou to acquire Elevra Lithium’s rights in the Ewoyaa Project, expediting project development and funding.

• Integration Committee established with Huayou to oversee Scheme implementation and project development.

Financial highlights

• Cash on hand at 30 June 2026 was A$9.7 million, with no debt.

• Net cash outflow from operating activities for the quarter was A$1.84 million; investing activities outflow was A$2.22 million.

• Quarterly exploration and evaluation expenditure totaled A$2.8 million (A$2.6m in Ghana, A$0.2m in Côte d'Ivoire).

• Proceeds from equity issues during the quarter totaled A$18.28 million.

Outlook and guidance

• Scheme Booklet to be sent to shareholders in October 2026, with Scheme implementation expected by December 2026.

• Huayou to begin sole funding Ewoyaa Project development costs upon Novation Agreement completion.

• Estimated quarters of funding available is 11.1, with total available funding of A$51.9 million (including unused facilities).