Australian Vanadium (AVL) Q1 2027 TU earnings summary

Executive summary

• Three-platform strategy advanced across the Australian Vanadium Project, electrolyte manufacturing and utility-scale vanadium flow battery storage.

• Major quarter milestones included completion of core OFS process-definition work, mineral-rights consolidation, submission of ERD Version 7 and new energy-storage collaborations.

Financial highlights

• Cash and cash equivalents were $12.4 million at 30 September 2026, down from $17.9 million at 30 June; the balance included $1.1 million in MMI-C Grant funds and $0.5 million restricted cash.

• Operating cash outflow was $2.9 million; investing cash outflow was $2.5 million, including $2.0 million exploration and evaluation expenditure and $0.5 million for the Albright transaction.

• Interest received was $187,000 and interest and other finance costs paid were $40,000; related-party operating payments were $160,000.

Outlook and guidance

• OFS completion remained targeted for H2 CY2026, with master capital cost estimate refinements and integration of technical, schedule and financial inputs underway.

• Yugunga-Nya Traditional Owner authorisation is targeted to be sought in H1 CY2027; the ERD remains subject to regulatory review before public comment.

• V-NOMAD’s next phase is to address engineering, process safety, vendor engagement and cost and execution requirements; deployment depends on approvals, financing and commercial arrangements.