Lake Resources (LKE) Q1 2026 TU earnings summary

Executive summary

• Completed a $12.0 million capital raise, boosting liquidity to advance the Kachi Lithium Brine Project, one of the largest lithium assets in the Lithium Triangle.

• Published an updated Definitive Feasibility Study (DFS Addendum) for Kachi, showing improved project economics and reduced costs.

• Advanced environmental approval processes and power supply planning for Kachi, with ongoing engagement with local authorities.

Financial highlights

• Liquidity at 30 September 2025 was $18.0 million, including $9.5 million from the capital raise and $3.7 million from the At-the-Market Subscription Agreement.

• Pro-forma liquidity post quarter-end was approximately $20.5 million, excluding costs.

• No debt outstanding as of quarter-end.

• Cash expenditures for the quarter were higher than the prior quarter due to payment of accrued liabilities.

Outlook and guidance

• Cash outgoings for calendar year 2025 expected to be ~40% lower than 2024, with further reductions targeted for 2026.

• Liquidity runway expected to extend through 2026 with continued cost reductions and right-sizing.

• Capital raised will support operational priorities, including finalizing environmental approvals and power solutions for Kachi.