Global Lithium Resources (GL1) Q3 2025 TU earnings summary

Executive summary

• Resumed Definitive Feasibility Study (DFS) activities at Manna Lithium Project, focusing on enhancing project economics and progressing key approvals including the Native Title Mining Agreement.

• Heritage Protection Agreement signed for expanded Marble Bar Project tenure; planning underway for diamond drilling supported by a government grant.

• Substantial Board changes post-AGM, with new Chairman and CEO appointed; cost-cutting measures reduced burn rate.

Financial highlights

• Cash position at 31 March 2025 was $17.5 million, with listed equity investments of A$5.5 million.

• FY24 R&D tax claim of $0.76 million received in Q1 CY25.

• Net cash outflow from operating activities for the quarter was $1.3 million; year-to-date outflow $8.8 million.

• Exploration expenditure for the quarter was approximately $0.57 million, mainly on Manna Lithium Project studies and approvals.

Outlook and guidance

• Focus remains on de-risking Manna Project through regulatory approvals, mine plan optimization, and discussions with potential offtake or development partners.

• Ongoing cost control and search for partners to accelerate exploration at Marble Bar and Talga Projects.

• Estimated 13.5 quarters of funding available at current cash burn rate.