Highlights

• Core Lithium’s FY26 loss reached AU$25.96 million during its return to mining.
• New funding lifted year-end cash to AU$181.83 million.
• The first shipment of newly produced concentrate is planned for the December quarter.

Share Price Remains Under Pressure         

Core Lithium Ltd (ASX: CXO) traded at AU$0.387 after a 7.7% decline. Mining has resumed at its Finniss operation, and the restarted plant has produced concentrate. Consistent shipments and sales are the next milestones for the company.

Annual Results Reflect Restart Costs

Core reported AU$17.85 million in revenue for the year ended 30 June 2026, generated from sales of stockpiled lithium material. Its net loss widened to AU$25.96 million compared to AU$23.37 million in FY25, as site and corporate costs continued during the restart.

Core’s operating cash outflow narrowed to AU$21.09 million in FY26, compared to AU$43.93 million in FY25. Cash and cash equivalents increased to AU$181.83 million from AU$23.49 million, supported by equity and convertible note funding. At year-end, total assets were AU$451.09 million and liabilities stood at AU$75.26 million.

Finniss Advances Towards New Deliveries

Mining has recommenced at the Grants open pit, while underground development continues at BP33. Following the end of FY26, the Finniss plant produced its first spodumene concentrate from the restart. Core targets its first shipment of newly produced concentrate in the December quarter of 2026.

The development schedule calls for first ore from BP33 around mid-2027 and steady-state processing of 1.2 million tonnes annually by mid-2028. Core’s Finniss plan estimates nameplate output of 214,000 tonnes of spodumene concentrate equivalent a year across a 20-year mine life. These remain project targets rather than achieved production rates.

Outlook

The planned shipment will provide an early indication of Core’s progress from plant commissioning to customer deliveries. Sustained processing performance, BP33 development spending and operating cash flow will shape the next phase. Lithium prices will also influence the value of future production.

Note- All data presented is based on information available at the time of writing.

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