FY24 Production and Financial Position Update

08 July 2024

Core Lithium CEO Paul Brown commented:

"I would like to commend the team on the operational performance in FY24, particularly the safe and orderly cessation of production activities at Finniss while achieving record production and shipments. This will help preserve the Company's strong financial position, where we finished FY24 with an unaudited cash balance of $87.6 million and no debt.

Our commitment is to judiciously protect our balance sheet by reducing costs across the organisation and making prudent investments in our assets where we believe it can grow shareholder value. Central to this is putting Finniss in a position where operations can rapidly resume with minimal capital. This would only occur when we are confident the lithium market conditions support such a decision.

Our strategic focus will be on making Finniss a more robust operation in the future, and exploration is a key enabler of this. In FY25, we will be drill testing priority targets around Finniss, potentially adding meaningful life to future lithium mining operations. We will also be advancing earlier stage, low multi-commodity exploration activities within our Northern Territory landholding to demonstrate the value in these projects. Our business will stay agile and prepared for future opportunities, both within the Company and externally, as they arise."

Read the full ASX announcement


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