European Lithium (EUR) Q4 2025 TU earnings summary

Executive summary

• Raised A$7.6m from sale of 2m CRML shares during the quarter and A$5.2m from 1m CRML shares post-quarter, with CRML investment valued at US$273m as of 28 July 2025.

• Announced robust PEA and Scoping Study for Tanbreez Project, with NPV of US$2.4–3.0B and IRR of 162% pre-tax.

• Listed new EUROC options on ASX and completed transfer of Irish Lithium licenses.

• JV with Obeikan progressing on Saudi lithium refinery, targeting 20,000tpa battery-grade lithium hydroxide.

• Cash and cash equivalents at quarter end were A$20.0m, with estimated 3.8 quarters of funding available.

Financial highlights

• Cashflows from operating activities were A$2.35m (A$693k for parent, A$1.66m for CRML and subs), including A$435k in director fees.

• Investing activities included A$4.25m for Tanbreez, A$592k for Wolfsberg, Austrian, Irish, and Australian projects, and A$301k for CRML BTC convertible note costs.

• Proceeds of A$7.67m from sale of CRML shares; financing activities added A$3.12m from CRML option exercises and A$357k from new options.

• Net cash from investing activities was A$2.52m; net cash from financing activities was A$3.48m.

• Cash and cash equivalents increased to A$20.0m at quarter end.

Outlook and guidance

• Resource upgrade drilling commenced at Tanbreez post-quarter, aiming to expand the Fjord Eudialyte Deposit.

• Wolfsberg Project fast-tracked by environmental decree, with energy corridor construction expected in H1 2025.

• JV lithium refinery in Saudi Arabia expected to produce up to 20,000tpa battery-grade lithium hydroxide.

• Exploration programs planned for Austrian and Irish lithium projects in Q3 2025.