Global Lithium Resources (GL1) H2 2026 earnings summary

Executive summary

• FY2026 advanced Manna toward development through a Native Title Mining Agreement, a 21-year mining lease, an optimized DFS, and strategic Lopal funding and offtake arrangements.

• Post-year-end, the Manna-Nova Integration Study outlined a lower-capital development route; a proposed Titan scheme would provide shareholders A$1.15 per share, subject to conditions.

Financial highlights

• FY2026 net loss was A$6.854m, versus A$3.846m in FY2025; loss included A$1.843m share-based payment expense and A$2.575m impairment expense.

• Total income was A$1.071m versus A$1.768m; loss per share was A$0.026 versus A$0.015.

• Cash and cash equivalents were A$26.231m at 30 June 2026, versus A$16.042m a year earlier; net cash used in operating activities was A$4.784m versus A$10.186m.

• Total assets were A$171.248m and net assets A$169.943m at year-end; total liabilities were A$1.305m.

Outlook and guidance

• FID for Manna was targeted for the December 2026 quarter; first DSO shipment was targeted for May 2027 and first spodumene concentrate for mid-2027.

• Priorities include progressing funding and approvals, completing the Nova acquisition, and preparing for development; target timing remains subject to funding, logistics, execution and market conditions.

• The Integration Study estimated a 13-year mine life and 2,684.3kt life-of-mine concentrate production, with average annual output of 257kt SC5.5 for the first seven years.