Core Lithium (CXO) H1 2026 earnings summary

Executive summary

• Advanced restart planning for the Finniss Lithium Operation, including technical, design, and engineering work to de-risk and optimize the project.

• Updated Ore Reserve Estimates at Carlton and Grants, with significant increases in tonnage and contained lithium.

• Care and maintenance activities maintained strong safety and environmental compliance, with no recordable incidents.

• Strategic focus on operational readiness and asset portfolio optimization, including sale of non-core uranium assets.

Financial highlights

• Total comprehensive loss for the six months to 31 December 2025 was $19.4 million, compared to $17.2 million loss in the prior year.

• Basic loss per share was 0.80 cents, slightly improved from 0.82 cents per share last year.

• Cash balance at 31 December 2025 was $48.7 million, up from $23.5 million at 30 June 2025.

• Significant cash flows included $1.0 million exploration spend, $1.8 million site maintenance, $9.5 million for crushing plant acquisition, and a $3.0 million one-off payment to terminate the Ganfeng offtake agreement.

• One-off cash receipt of $2.5 million from sale of uranium assets.

Outlook and guidance

• Final Investment Decision (FID) workstreams progressing on schedule, with strong interest from strategic funding partners.

• Improved lithium market conditions provide increased flexibility for funding and restart options.

• All future production from Finniss is unencumbered following settlement of all offtake contracts.