June Quarterly Investor Call Recording

On 17 July 2024, Core Lithium CEO Paul Brown and CFO James Virgo hosted a conference call for professional investors to discuss the Company's quarterly activities report for the period ended 30 June 2024.

To listen to the recording, please follow the link: here.

Quarterly summary

• Record quarterly shipments of 33,027dmt of spodumene concentrate (10,199dmt Q3FY24)

• In line with expectations, there was an 18% decrease in quarterly spodumene concentrate production to 20,563dmt (24,927t Q3FY24) as the final ROM stockpiles were fully exhausted

• FY24 production of 95,020dmt, operating costs of $1,396/dmt in line with the revised guidance

• The ROM stockpile is now fully depleted, and all processing activities are completed as planned

• Operational sites are now being maintained in a state of operational readiness until market conditions improve

• Cash balance at 30 June 2024 of $87.6 million, positively impacted by the selling of concentrate produced from the processing of stockpiles

• 5,178wmt of spodumene concentrate and up to 75,000wmt of lithium fines available for sale, with a market value of ~$14.8m at current prices

• 58% increase in Mineral Resources to 48.2Mt at 1.26% Li₂O and FY25 drilling targeting further resource growth

• Paul Brown was appointed as CEO and James Virgo was permanently appointed as CFO

Commenting on the quarter, Core CEO Paul Brown said:

"We are pleased that we have managed a difficult FY24 with several positive achievements to carry forward into FY25. The June quarter saw record quarterly spodumene concentrate shipments and our lowest quarterly operating costs. Core remains debt free with a cash balance of $87.6 million at 30 June 2024. This provides a solid financial foundation to reset the business and enable our Finniss operations to be in a position to restart as a lower cost lithium producer when market conditions improve.

All ROM stockpiled ore has been processed and all mining and processing operations have been suspended. Our team has demonstrated exceptional resilience to achieve this milestone safely and without incident. With the suspension of operations and the site moving to care and maintenance, the Company has significantly reduced its cost base across the business. Core will continue to focus on reducing our costs by implementing various cost saving measures.

Looking ahead, we intend to put Finniss in a position where it can restart as a longer life lower cost operation and restore shareholder value through sensible exploration and potential corporate opportunities.”

View the quarterly report