Talga Group (TLG) Q4 2025 TU earnings summary

Executive summary

• Secured exploitation concession for Nunasvaara South graphite mine, ending all appeals and enabling full project development.

• Achieved EU Net-Zero Strategic Project status for Luleå Anode Refinery, expediting permitting and access to EU support.

• Signed a multi-year binding offtake agreement with Nyobolt for TalnodeⓇ-C graphite anode supply.

• Raised A$10 million via share placement to support project advancement and working capital.

• Maintained a cash balance of A$13.2 million at quarter end, with a market cap of ~A$180 million.

Financial highlights

• Customer receipts tripled sequentially, reflecting increased demand and qualification orders.

• Ended the quarter with A$13.2 million in cash and cash equivalents.

• Quarterly net cash outflow from operating activities was A$5.9 million.

• Raised A$9.9 million from equity issuance during the quarter.

• Exploration and evaluation costs for the quarter were A$2.4 million.

Outlook and guidance

• Vittangi Anode Project positioned to benefit from EU and US trade measures favoring non-Chinese graphite supply.

• Ongoing commercial discussions with multiple counterparties to secure further offtake agreements.

• Planned construction of commercial anode refinery in 2026, subject to final investment decision.