Galan Lithium (GLN) H2 2025 earnings summary

Executive summary

• Focused on lithium exploration and development, with flagship Hombre Muerto West (HMW) project in Argentina and additional assets in Australia and Canada.

• HMW Phase 1 targets 4ktpa LCE production over 40 years, with first production expected in H1 2026.

• Secured offtake and funding agreements with Authium and Clean Elements Fund to support project execution.

• ESG initiatives advanced, including environmental audits, community engagement, and diversity targets.

Financial highlights

• Net loss after tax: $9.31 million (2024: $9.51 million).

• Cash and cash equivalents: $4.45 million at year-end (2024: $4.33 million).

• Exploration expenditure: $52.94 million (2024: $50.10 million), all on lithium brine and Greenbushes South projects.

• Net administration and employee expenses: $4.17 million (2024: $3.75 million).

• Basic and diluted loss per share: (1.27) cents (2024: (2.52) cents).

Outlook and guidance

• HMW Phase 1 construction funded and on track for first production in H1 2026.

• Candelas project resource increased by 150% to 1.6 Mt LCE, providing future development optionality.

• Ongoing exploration at Greenbushes South and Canadian JV projects.

• Directors continue to pursue growth through exploration, acquisition, and JV opportunities.