Galan Lithium (GLN) Q4 2026 earnings summary

Executive summary

• Transitioned from developer to producer with successful wet commissioning at Hombre Muerto West (HMW) in Argentina and first processed lithium chloride produced.

• Production ramp-up underway, targeting stabilised output of 4 ktpa LCE and first product sales in H2 2026.

• Expansion of Phase 1 to 5.2 ktpa LCE on track, with pond construction starting in September quarter and capacity uplift targeted for H1 2027.

• HMW resource ranks among the top 10 global lithium projects by contained LCE, with a low impurity profile and first quartile cost curve positioning.

Financial highlights

• Closing cash balance at 30 June 2026 was A$35.5 million, with no debt drawn.

• Net cash outflows for the quarter were primarily for construction, commissioning, and site infrastructure.

• Net cash used in operating activities for the quarter was A$0.62 million; investing activities used A$13.0 million.

• Financing activities provided A$8.6 million in the quarter, mainly from equity issues and option exercises.

• Estimated 2.6 quarters of funding available based on current cash and outgoings.

Outlook and guidance

• On track for first lithium chloride concentrate sales in H2 2026 and stabilised production at 4 ktpa LCE within 2026.

• Phase 1 expansion to 5.2 ktpa LCE targeted for H1 2027, with further staged growth planned up to 60 ktpa LCE.

• Construction permits secured for Phase 2 (21 ktpa LCE), supporting long-term production growth.