Galan Lithium (GLN) H2 2025 earnings summary

Executive summary

• Loss after tax for FY2025 was $9.31 million, slightly improved from $9.51 million in FY2024.

• Cash and cash equivalents at year-end were $4.45 million, up from $4.33 million in the prior year.

• Exploration expenditure totaled $52.94 million, focused on lithium brine projects in Argentina and Australia.

• No dividends were paid or recommended for the year.

Financial highlights

• Revenue from interest and other income was $405,152, down from $898,898 in FY2024.

• Net administration and employee expenses rose to $4.17 million from $3.75 million year-over-year.

• Share-based payments expense was $4.58 million.

• Total assets increased to $223.2 million (from $174.3 million), driven by capital raisings and exploration asset growth.

• Net assets rose to $207.2 million (from $159.8 million).

Outlook and guidance

• First production from the HMW project is targeted for H1 2026, with Phase 1 construction funded and on schedule.

• The company will continue phased expansion at HMW, aiming for 60ktpa LCE at full scale.

• Candelas project resource upgrade provides increased optionality for future development.