European Lithium (EUR) Q1 2027 TU earnings summary

Executive summary

• Cash at 30 Sep 2026 was $296.5m; merger schemes with CRML became effective on 27 Oct, with implementation scheduled for 5 Nov 2026.

• CRML completed Tanbreez’s 2026 drilling campaign and received Greenland Mining Plan and Closure Plan approvals; Leinster field mapping and sampling also advanced.

Financial highlights

• Q1 net operating cash inflow was $2.275m, including $4.716m interest received; administration and corporate costs were $1.275m and merger costs were $1.166m.

• Investing cash outflow was $2.052m, including $320k for exploration and $1.732m for listed investments; financing cash outflow was $217k.

• Cash and cash equivalents were $296.490m at quarter end, versus $296.295m at the start of the period.

Outlook and guidance

• Tanbreez assay results are expected after processing, validation and reporting; 2026 drilling data is intended to inform resource assessment, geological modelling, mine planning and development studies.

• Austrian follow-up mapping and stream sediment sampling are planned; drilling is being planned at the Quarry-Ebner target.

• Obeikan and CRML agreed a framework targeting a Wolfsberg decision to mine by end-2026, subject to lithium prices and financing availability.

• Tanbreez’s proposed Romanian refinery remains at an early study stage, subject to test work, engineering, permits, feasibility studies and a final investment decision.