Green Technology Metals (GT1) Q4 2024 TU earnings summary

Executive summary

• Leadership transition with Cameron Henry appointed as Managing Director to drive the next growth phase and project financing for the Seymour lithium project.

• Strategic focus on cost optimization, Indigenous consultation, permitting, and advancing Seymour towards construction readiness.

• Corporate development activities included relocation of key personnel to Toronto and ongoing engagement with government agencies and strategic partners.

Financial highlights

• Cash on hand at 30 June 2024 was A$6.41 million.

• Exploration and evaluation expenditure for the quarter totaled A$2.51 million.

• Net cash used in operating activities for the quarter was A$1.68 million; net cash used in investing activities was A$1.82 million.

• Proceeds from equity issues during the year totaled A$14.61 million.

• Estimated quarters of funding available is 1.89, with additional cost-cutting measures implemented.

Outlook and guidance

• Seymour project advancing towards a final investment decision, with ongoing DFS and permitting activities.

• Additional government funding applications in progress, including C$7.5 million from CMIF and C$90 million from CIB.

• Strategic partnership discussions ongoing to support integrated mine and conversion supply chain.

• Anticipated decrease in non-critical exploration spend for the remainder of 2024.