Global Lithium Resources (GL1) Q3 2026 TU earnings summary

Executive summary

• Completed spin-out of gold assets via IPO into MB Gold Limited in February 2026, sharpening focus on lithium projects.

• Advanced permitting for Manna Lithium Project, including submission of key environmental and mining proposals.

• Entered advanced negotiations for funding and offtake for Manna, culminating in a post-quarter binding term sheet for significant equity and prepayment funding.

• Strengthened project leadership with key appointments and established a community relations committee for stakeholder engagement.

Financial highlights

• Cash position at 31 March 2026 was $19.8 million.

• Net cash used in operating activities for the quarter was $0.81 million; year-to-date net cash used was $3.78 million.

• Net cash from investing activities for the quarter was $0.89 million, mainly from asset disposals.

• Estimated 24.45 quarters of funding available based on current cash and outgoings.

Outlook and guidance

• Focus remains on advancing the Manna Lithium Project toward a Final Investment Decision by end of 2026.

• Recent funding and offtake agreements are expected to accelerate project development.