European Lithium (EUR) Q2 2026 TU earnings summary

Executive summary

• Raised gross proceeds of US$121.05m (A$184.6m) from sale of 9.88m CRML shares during the quarter, and an additional A$118m post-quarter from further CRML share sales.

• Cash position as of announcement date is A$314m, with a remaining holding of 48,036,338 CRML shares valued at approx. US$672m (A$964m).

• Significant drilling results at Tanbreez Project confirm high-grade rare earth and gallium oxide mineralization, supporting resource expansion.

• Mobilized exploration crews for Irish lithium projects, with sampling programs underway.

Financial highlights

• Net cash from operating activities for the quarter was $(7,522)k, with administration and corporate costs at $7,967k.

• Investing activities generated net cash of $110,268k, mainly from CRML share sales.

• Financing activities contributed $82,547k, including proceeds from equity issues, option exercises, and PIPE funds.

• Cash and cash equivalents at quarter end were $198,400k, up from $13,539k in the previous quarter.

• Estimated quarters of funding available is 25.28, indicating strong liquidity.

Outlook and guidance

• 2026 field season planning underway, incorporating 2024 and 2025 drilling data for Tanbreez.

• Ongoing exploration in Austria and Ireland, with further drilling and sampling planned.

• Wolfsberg Project advancing toward operational readiness, pending environmental reassessment and project financing.

• JV with Obeikan progressing on Saudi lithium hydroxide plant, with design work commenced.