Global Lithium Resources (GL1) H2 2026 earnings summary

Executive summary

• Net loss after tax for FY26 was $6.85 million, up from $3.85 million in FY25, driven by higher non-cash expenses and impairment losses.

• Major corporate actions included the sale of Kairos Minerals investment, spin-out of Marble Bar gold assets, and a binding term sheet with Lopal for equity and offtake financing.

• Strategic acquisition of the Nova Operation processing plant to accelerate Manna Lithium Project development.

• Entered into a binding scheme for acquisition by Titan Australia Mining at $1.15/share, valuing the company at ~$333 million.

Financial highlights

• Revenue from other income was $304,950, down from $889,644 in FY25.

• Total expenses increased to $7.93 million (FY25: $5.61 million), with share-based payments rising to $1.84 million (FY25: $153k).

• Cash and cash equivalents at year-end were $26.2 million, up from $16.0 million.

• Exploration and evaluation assets decreased to $127.9 million (FY25: $144.1 million) due to asset reclassification and impairment.

• Basic and diluted loss per share was $(0.026) (FY25: $(0.015)).

Outlook and guidance

• Final Investment Decision for Manna Lithium Project targeted for December quarter 2026.

• First Direct Shipping Ore shipment targeted for May 2027; first spodumene concentrate for mid-2027.

• Titan Lithium Group to provide up to $120 million facility to support uninterrupted project development during the acquisition scheme.