Each one in plain English, with the numbers worked through for a shareholder.
28 Aug 2025capital raising announcement▲ GoodMajor
Core raised A$50M at A$0.105 per share (about 476.2M shares) in a two-tranche placement run by Argonaut and Canaccord, with cornerstone investors led by Fourth Sail Capital, plus a planned A$10M share purchase plan. Tranche 2 (~A$20.8M) needs shareholder approval.
What it means for a shareholder
476m new shares at about A$0.105 to raise about A$50.0m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
Cash was A$23.5M at 30 June 2025, down from A$29.8M, including the A$3.1M Yahua settlement. Spending excluding Yahua fell 67% from the March quarter. The strategic funding process with Morgan Stanley is progressing, with a focus on minimising dilution.
Slides accompanying the restart study released the same day. The text provided is mostly disclaimers and competent person statements, and adds no new figures beyond the study announcement.
Restart study outlines a 20-year underground operation: unit costs A$690-785/t, pre-production capex A$175-200M (down 29%), ~205ktpa concentrate, A$1.2B free cash flow at US$1,330/t. Morgan Stanley is advising on funding. A final investment decision remains subject to market conditions and funding.
Administrative notice of an investor webcast and call at 2pm AEST on 14 May 2025 to discuss the restart study results. It carries no new business information.
Total Finniss Ore Reserve rose to 10.73Mt @ 1.29% Li2O, from 9.25Mt, with Grants doubling to 1.15Mt via a switch to underground mining. Mineral Resource edged up 0.6% to 48.5Mt @ 1.26% Li2O after adding tailings and stockpile material.
12 May 2025material agreement termination● NeutralMajor
Core terminated the legacy Yahua offtake agreement (signed 2019) for a US$2M cash payment. Core says this gives more scope to secure strategic funding for a restart. This settles the pending Yahua true-up thread.
Cash fell to A$29.8M at 31 March 2025 from A$49.7M, including the first A$10M instalment for the crushing circuit. The restart study remains on track for the June quarter. Final Shoobridge gold results were repeated; about 5,000t concentrate and 75,000t fines remain unsold.
27 Mar 2025material agreement termination● NeutralMajor
Core ended its last operating contracts from the Finniss production period, taking 100% ownership of all site infrastructure for a total A$19.5M payable over four months. It says this cuts care-and-maintenance costs. The restart study stays on track for the June quarter.
Final Shoobridge assays include 46m @ 0.75g/t gold from 3m and 34m @ 0.97g/t from 49m, suggesting a large shallow oxide gold system over 800m of strike. Core will assess low-cost bulk open-pit potential, while keeping the lithium restart study as its focus.
Half-year accounts to 31 December 2024 show a comprehensive loss of A$17.2M, far below the prior half's A$167.6M loss that included an impairment. The restart study is on track for Q4 FY25, and restart is subject to market conditions and raising funds.
Slides for the December quarterly report released the same day, repeating known points such as the cash balance and restart study timing. The text provided is mainly disclaimers and adds nothing new.
Cash fell to A$49.7M at 31 December 2024 from A$61.3M, including a A$3.5M final quotation-period payment. The restart study is on track for the June quarter. Charger exercised its Bynoe pre-emptive right, so Core's purchase of the 30% interest lapsed; Core keeps its 9.8% Charger stake.
Administrative notice that the December quarterly report and investor webcast are scheduled for 23 January 2025. It contains no new business information.
AGM slides; the text provided is only disclaimers and cautionary notes, with no new figures or announcements visible. It appears to repeat known information.
Chair's AGM address says spodumene prices fell from nearly US$8,000/t in Feb 2023 to US$770/t. Cash was over A$87M at year end with no debt. It confirms James Bruce as COO since October and Alicia Sherwood joining the board on 1 December.
The remuneration report passed with 90.8% in favour, so a second strike was avoided and the spill vote was not held. Director Malcolm McComas was re-elected with 95.3%. This resolves the strike risk raised after November 2023.
Finniss drilling hit 63m @ 1.67% Li2O from 166m at Blackbeard, inside Core's Mining Lease within 20km of the Grants plant. With Centurion, mineralisation spans over 600m. More drilling is planned after the wet season; it could feed restart studies and a future resource.
Alicia Sherwood joins the board as a non-executive director from 1 December 2024. She was most recently General Manager of Core's Finniss mine and previously held community roles at Rio Tinto. Adds Northern Territory stakeholder experience to the board.
Slides accompanying the September quarterly report released the same day, repeating the A$61.3M cash position and restart-study timing already reported. The text provided is mostly disclaimers and adds no new figures.
Cash fell to A$61.3M at 30 September 2024 from A$87.6M, after one-off suspension, royalty and contractor payments. Restart studies are due in the second half of FY25, and 5,178wmt of concentrate and 75,000wmt of fines are still unsold. A new COO was appointed.
Administrative notice that the September quarterly report and investor webcast are scheduled for 24 October 2024. It contains no new business information.
Final Shoobridge holes returned 12m @ 2.93g/t gold from 56m (including 6m @ 5.12g/t), with a single-metre assay up to 19.76g/t. Less than 1km of the 4.5km trend is tested, and a 4,500m follow-up program has started, building on the September results.
The 2024 Annual Report restates FY24 results: 95,020dmt produced, 97,423dmt sold, and A$1,396/dmt cash costs. The operation is on hold pending restart studies and lithium market conditions. Mining paused January 2024; the report adds no new headline figures in the text provided.
Core will hold its 2024 AGM on 27 November 2024, with director re-elections on the agenda. Director nominations close 4 October 2024. The corporate governance statement is also released. This follows the first remuneration strike in November 2023.
Finniss Ore Reserve is now 9.3Mt @ 1.38% Li2O (9.5-year notional life). BP33 reserve rose 223% to 8.7Mt, while Grants fell to 0.6Mt and no reserves are reported for smaller deposits such as Carlton. It supports restart studies; restart is not decided.
Shoobridge assays for 21 of 28 holes include 2m @ 12.9g/t gold from 54m, plus lithium up to 1.41% Li2O at Barretts. Core plans expanded drilling aimed at a maiden gold resource, adding a gold angle beyond lithium; remaining results are due this month.
After its Charger offer lapsed, Core agreed to buy 7.6M Charger shares (9.8%) from Lithium Australia for 6.08M new Core shares, and a 30% free-carried Bynoe interest for A$500k cash, subject to Charger's 60-day pre-emptive right. Core has no current intention to make a takeover offer.
Lithium Australia's side of the deal: it sells its 7.6M Charger shares to Core for ~6.1M Core shares (A$541k) and its 30% Bynoe interest for A$500k cash, subject to Charger's pre-emptive rights. It keeps upside if Charger is taken over within 9 months.
S&P Dow Jones index notice: Core Lithium is removed from the S&P/ASX 300 effective 23 September 2024, following its earlier ASX 200 removal in March 2024. It carries no company operating news.
