Talga Group (TLG) H2 2024 earnings summary

Executive summary

• Advanced Vittangi Anode Project in Sweden, completing key pre-execution milestones and initial groundworks for the Luleå Anode Refinery.

• Secured €150 million cornerstone debt funding from the European Investment Bank and completed a $15 million share purchase plan.

• Expanded R&D and commercialisation of next-gen battery materials, including Talnode®-C Recycled Series and Talnode®-Si.

• Entered a JV with SQM for the Aero Lithium Project and revised Vittangi Graphite Mineral Resource to 35.0Mt at 23.8% Cg.

• Strengthened executive team and board, including key appointments and new Chair for Talga AB.

Financial highlights

• Cash and cash equivalents at 30 June 2024: $14.1 million, down from $38.2 million in 2023.

• Net loss after tax for FY24: $38.3 million (FY23: $43.4 million).

• No material operational revenue; income mainly from interest, grants, and R&D refunds.

• Net assets at 30 June 2024: $40.2 million (FY23: $57.0 million).

• Basic loss per share: (10.3) cents (FY23: (12.0) cents).

Outlook and guidance

• Aims to finalise mine permit approvals and customer offtake agreements for Vittangi Anode Project before Final Investment Decision.

• Will progress expansion options for Vittangi and Aero Lithium Project JV with SQM.

• Ongoing commercialisation studies for Talnode®-C Recycled Series and Talnode®-Si.

• Recent $18 million capital raising to fund pre-execution activities and expansion studies.