Galan Lithium (GLN) H1 2026 earnings summary

Executive summary

• Report covers the half year ended 31 December 2025, focusing on lithium exploration and development in Argentina and Australia.

• Operating loss after tax was $5.36 million, a slight improvement from $5.54 million in the prior year.

• Cash and cash equivalents increased to $14.91 million from $4.45 million at June 2025, driven by successful capital raisings.

• Major equity placements completed, including $20 million from Clean Elements and $40 million from institutional investors to fund project development.

Financial highlights

• Revenue for the half year was $194,155, with other income of $175,483.

• Net loss for the period was $5,358,172, compared to $5,541,178 in the prior year.

• Total comprehensive loss, including foreign exchange differences, was $8,095,782.

• Cash flows from financing activities totaled $22.64 million, offsetting $10.05 million in investing outflows and $1.78 million in operating outflows.

• Net assets increased to $225.67 million from $207.25 million at June 2025.

Outlook and guidance

• First production from Hombre Muerto West (HMW) Phase 1 expected in H1 2026 at a 4 ktpa LCE rate, ramping to 5.2 ktpa in H2 2026.

• Long-term plan targets 60 ktpa LCE production at the conclusion of Phase 4, with phased scaling to mitigate risk.

• RIGI approval in Argentina provides 30 years of fiscal stability, reduced tax rates, and preferential FX access, supporting project financing and execution.