Green Technology Metals (GT1) Q2 2025 TU earnings summary

Executive summary

• Received a Letter of Interest from Export Development Canada for up to C$100 million in project financing for the Seymour Lithium Project, enhancing Ontario strategy and supporting critical minerals supply chain development.

• Secured C$5.47 million in conditional government funding for infrastructure upgrades, and advanced permitting, approvals, and study activities across key projects.

• Focused on capital conservation while progressing critical path items, with exploration expenditure expected to decrease in the next quarter.

Financial highlights

• Cash on hand at 31 December 2024 was A$5.352 million.

• Exploration and evaluation expenditure for the quarter was A$1.993 million.

• Net cash used in operating activities for the quarter was A$2.01 million; net cash used in investing activities was A$1.78 million.

• Raised A$4.125 million from equity issuance during the quarter.

• Estimated quarters of funding available is 1.47, with plans to adjust expenditure and raise additional funds if needed.

Outlook and guidance

• Final Investment Decision for Seymour Lithium Project expected in 2025, pending due diligence, permitting, and Indigenous consultations.

• Capital conservation plan being implemented to ensure progress on critical path items amid current market conditions.

• Exploration expenditure to decrease significantly in the upcoming quarter.