Talga Group (TLG) H2 2025 earnings summary

Executive summary

• Achieved key regulatory milestones for the Vittangi Anode Project, including final permits for Nunasvaara South graphite mine and EU Strategic Project status, clearing the path for development and financing.

• Signed first binding multi-year offtake agreement for Talnode®-C graphite anode, underpinning demand and accelerating commercialization.

• Secured €70 million EU Innovation Fund grant for Luleå Anode Refinery and completed two equity raisings totaling A$28.5 million.

• Advanced partnerships for recycled graphite (Talnode®-R) and lithium projects, and expanded US market presence by trading on OTCQX.

Financial highlights

• Cash and cash equivalents at 30 June 2025: $13.2 million (2024: $14.1 million); net current assets: $10.5 million (2024: $10.8 million).

• Net loss for FY2025: $16.7 million, significantly reduced from $39.3 million in FY2024.

• Revenue from product samples: $106,168; customer receipts: $120,000; R&D grants: $967,000.

• Major expenditures: $8.7 million on trial mining/anode production, $1 million on exploration, $5.4 million on R&D operations, $3.8 million capital investment.

• No dividend declared for FY2025.

Outlook and guidance

• Progressing toward Final Investment Decision for Vittangi Anode Project, with key permits in force and detailed plan under review.

• Actively pursuing additional offtake agreements and project financing, including €150 million EIB senior debt facility under negotiation.

• Talnode®-R recycled graphite product positioned for global expansion via modular production near recycling hubs.

• Strategic focus on supplying secure, sustainable graphite anode materials amid global supply chain shifts.