Half Year Accounts

Commentary for the 6 month financial report:

For the period ended 31 December 2023, Lithium Australia sales were $2.6 million, primarily related to the recycling division (31 December 2022: $2.3 million). Associated cost of sales were $2.4 million for the same period, up from $1.7 million in the period ended 31 December 2022. These delivered a Gross Profit of $0.2 million for the period ended 31 December 2023 (31 December 2022: $0.6 million).

Battery collection volumes of 752 tonnes were achieved for the period ended 31 December 2023 (31 December 2022: 650 tonnes). Although battery collections increased, a decline in global metal prices such as cobalt and nickel reduced Mixed Metal Dust (MMD) revenues impacting the overall revenue achieve per volume.

During the six months to 31 December 2023, the Company completed the installation of leading safety systems at the Laverton North facility, ensuring consistent safety standards across all facilities. Sufficient space was required for these safety installations and certain non-core battery volumes were delivered to partners for processing.

Disposal of these non-core volumes resulted in increased cost of sales of approximately $0.2 million for the period ended 31 December 2023. The working capital surplus, being current assets less current liabilities was $3.4 million at 31 December 2023 (30 June 2023: working capital surplus $10.3 million).