Lake Resources (LKE) H2 2026 earnings summary

Executive summary

• FY2026 advanced Kachi through an updated feasibility study, larger resource and reserve estimates, power FEED completion, and the final administrative stage of environmental approval.

• The project is designed for ~25,000 tpa LCE over a 25-year mine life; commercial development remains subject to environmental approval, financing, offtake and investment decisions.

Financial highlights

• FY2026 loss after tax was A$23.52m versus A$21.07m in FY2025; loss attributable to owners was A$23.49m versus A$19.55m.

• Operating cash outflow was A$17.47m; net cash outflow from operating and investing activities was A$20.67m.

• Cash was A$6.67m at 30 June 2026 versus A$12.37m a year earlier; net assets were A$136.60m versus A$144.44m.

• FY2026 included a A$3.43m gain on sale of non-core exploration assets; share-based payment expense was A$6.11m.

Outlook and guidance

• After receipt of the Environmental Impact Declaration, next steps include process-plant construction FEED, power planning, debt and equity financing, offtake agreements and strategic partnering.

• Public consultation concluded 31 August 2026; the DIA remains the final major regulatory milestone for Kachi.

• RIGI application preparation continues, with submission planned ahead of the July 2027 deadline; FID is expected ~9–12 months after the strategic partner process progresses.

• Near-term priorities include construction FEED, commercial power optimisation, cost control and completion of the Goldman Sachs-led strategic partnering process.