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This quarter's report demonstrates the strong delivery against plan during the period including:

Positive Q4 FY24 with recycling operations generating revenue of A$2.5m, gross profit of A$1.6m, and achieving a maiden operating cash profit of A$0.5m. 

Collection of 445 tonnes of batteries, with a 392% increase in large-format lithium-ion batteries compared to the previous year. 

Execution of an off-take agreement with SungEel HiTech with joint development discussions commenced to scale the business.

Completion of the first phase of Liena piloting under a joint development agreement with MinRes. 

Cash and investment position of A$5.5m, with additional funding secured subsequently.

Investors are encouraged to ask questions about the company's strategic initiatives, financial performance, and future growth plans. Visit our investor hub for more information and stay updated on our progress.

Lithium Australia has reported a positive Q4 FY24 with recycling operations generating revenue of A$2.5m, gross profit of A$1.6m, and achieving a maiden operating cash profit of A$0.5m. The company collected 445 tonnes of batteries, with a 392% increase in large-format lithium-ion batteries compared to the previous year. Strategic initiatives included an off-take agreement and joint development discussions with SungEel HiTech. Progress was made under a joint development agreement with MinRes, with piloting activities completed for an intermediate product. The company's cash position as of June 30, 2024, was A$5.5m, with additional funding secured subsequently.<br/><br/>The improved financial and operational performance was attributed to a strategic shift towards an upstream service model, leading to a positive operating cash profit for Envirostream. Exclusive agreements with Volvo Group Australia, LG Energy Solution, and Hyundai Glovis showcase the company's focus on large-format LIB collections. A recent off-take agreement with SungEel and progress under the JDA with MinRes highlight growth opportunities.<br/><br/>Investors are encouraged to ask questions about the company's strategic initiatives, financial performance, and future growth plans. Visit our investor hub for more information and stay updated on our progress in the lithium market.

Quarterly Activities Report June 2024

Announcement summary