Talga Group (TLG) Q3 2025 TU earnings summary

Executive summary

• Nunasvaara South graphite mine and Luleå Anode Refinery awarded EU Strategic Project status, enhancing permitting and funding access.

• €70 million EU Innovation Fund grant secured for Luleå Anode Refinery, supporting capital and operating expenditure.

• Local mine approvals advanced, with Swedish government directing adoption of detailed plan for Nunasvaara South.

• Preferred EPCM contractor selected for Vittangi Anode Project, with construction expected 18-24 months post-FID.

• Strategic agreement signed to source recycled graphite, supporting TalnodeⓇ-C Recycled Series development.

Financial highlights

• Ended March 2025 quarter with A$10.3 million cash and market capitalisation of ~A$196 million.

• Net cash outflow from operating activities was A$5.75 million for the quarter.

• Net cash outflow from investing activities was A$1.99 million for the quarter.

• Raised A$18.5 million from equity securities during the nine-month period.

• Estimated 1.8 quarters of funding available at current cash burn rate.

Outlook and guidance

• Lower operating cash outflows expected in the short term due to cost rationalisation.

• Confident in ability to secure further funding through ongoing engagement with project and equity funding parties.

• Expects to continue operations and meet business objectives on a going concern basis.