European Lithium (EUR) Q2 2025 TU earnings summary

Executive summary

• Completed acquisition of 100% of the Leinster Lithium Project in Ireland, expanding European Lithium's portfolio.

• Appointed George Karageorge as Executive GM Exploration to drive operational development.

• Subsidiary Critical Metals Corp (CRML) completed confirmation drilling at Tanbreez Rare Earths Project in Greenland, with high-grade results.

• Wolfsberg Lithium Project in Austria received notice that an Environmental Impact Assessment is not required, fast-tracking development.

• Hatch Ltd appointed to commence design work on a lithium refinery in Saudi Arabia, targeting 20,000 metric tons of battery-grade lithium hydroxide.

Financial highlights

• Placement raised $2 million through the issue of 47,058,824 shares at $0.0425 per share for project advancement and working capital.

• Cashflows from operating activities were $2,157k, with $1,011k for the parent and $1,146k for CRML and subsidiaries.

• Investing activities included $1,553k in project expenditures and $593k invested in Cyclone Metals Ltd.

• Cash and cash equivalents at quarter end were $2,511k.

• Net cash from financing activities was $4,239k, including placement proceeds and loan repayments.

Outlook and guidance

• Exploration and drilling programs planned for Leinster Lithium Project in Ireland in Q2 2025.

• Wolfsberg Project to commence building the energy supply corridor in H1 2025, marking the official project start.

• Arabian New Energy Corp's lithium refinery in Saudi Arabia expected to produce up to 20,000 metric tons of battery-grade lithium hydroxide.

• Directors believe the company will continue as a going concern, supported by asset realisation and potential capital raising.