Talga Group (TLG) H2 2024 earnings summary

Executive summary

• Achieved key milestones in the Vittangi Anode Project, including initial groundworks, front-end engineering design, and commencement of Luleå Anode Refinery construction.

• Secured strong financial backing with a €150 million cornerstone debt facility from the European Investment Bank and completed capital raisings totaling ~$18 million post-year-end.

• Advanced commercialisation of next-generation battery materials, including Talnode®-C Recycled Series and Talnode®-Si, and entered a JV with SQM for the Aero Lithium Project.

• Strengthened leadership with key executive appointments and expanded R&D and sustainability initiatives.

Financial highlights

• Cash and cash equivalents at year-end: $14.1 million, down from $38.2 million in 2023.

• Net assets: $40.2 million (2023: $57.0 million).

• Net loss after tax: $38.3 million (2023: $43.4 million).

• Basic loss per share: (10.3) cents (2023: (12.0) cents).

• No dividends declared or paid.

Outlook and guidance

• Focus on delivering pre-execution milestones for the Vittangi Anode Project, including mine permit approvals and customer offtake agreements.

• Continued expansion studies for the Vittangi project and progression of the Aero Lithium JV with SQM.

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