Green Technology Metals (GT1) Q1 2025 TU earnings summary

Executive summary

• Secured A$8 million investment and strategic partnership with EcoPro Innovation, a leading South Korean EV battery metals producer, to advance lithium projects and a conversion facility in Ontario.

• Received conditional government funding of up to C$5.47 million for infrastructure upgrades supporting the Seymour Project.

• Strengthened project development team with key hires to oversee feasibility studies and site development.

• Advanced exploration at Junior and Root Bay projects, identifying new high-grade lithium zones and expanding resource potential.

Financial highlights

• Cash on hand at 30 September 2024 was A$4.988 million, prior to the second tranche of EcoPro investment.

• Exploration and evaluation expenditure for the quarter totaled A$4.182 million.

• Net cash used in operating activities was A$933k; net cash used in investing activities was A$4.184 million.

• Proceeds from equity issues during the quarter were A$3.875 million.

Outlook and guidance

• Ongoing collaboration with EcoPro on the Pre-Feasibility Study for the Lithium Conversion Facility, with a strategy update expected soon.

• Drilling at Root Bay and Junior projects to continue, with resource updates pending assay results.

• Company expects to continue operations and meet objectives, supported by recent funding and planned cost adjustments.