FY2021
IPO and tenure expansion
The IPO raised A$10m gross and trading began in May; additional Marble Bar tenure followed.
ASX: GL1 · Five-year financial review
(ASX: GL1) Global Lithium Resources Financial Review - FY2021~25
Global Lithium’s FY2021-FY2025 financial review traces the move from IPO funding to full Manna ownership and a substantial exploration asset base. Cash peaked after major equity funding, then fell as project work continued; FY2025 spending slowed but did not disappear.
Reading the figures: Units are stated above each table or beside the metric. Brackets denote negative amounts. Supported nil is shown as zero; unlike reporting bases remain separately labelled.
FY2025 cash
A$16.042m
Exact cash-flow closing balance.
Exploration carrying value
A$144.123m
Includes acquisitions and capitalised costs.
Operating cash outflow
A$10.186m
Includes exploration payments.
Loss after tax
A$3.846m
Not a proxy for cash spent.
Five years in context
A May 2021 IPO preceded a much larger FY2023 capital raise and acquisition of the outstanding Manna interest. Cash consideration included deferred amounts from the earlier acquisition, so the transaction is not simply a price for the final 20%.
The subsequent Manna native-title agreement and mining-lease grant occurred in August 2025. They are important milestones, but not approvals completed by the June balance date.
Events behind the numbers
FY2022
Cash and project base expand
Financing increased cash while exploration payments and acquired interests expanded the asset base.
FY2023
Manna ownership completed
Acquisition of the remaining interest and underlying tenements accompanied a A$121.5m gross capital raise.
FY2024
Exploration cash peak
Operating exploration payments reached A$31.571m and closing cash fell.
FY2025
Lower spend, later approvals
Exploration cash payments eased; native-title and mining-lease milestones followed after year-end.
FINANCIAL REVIEW / 01
Funding raised earlier is being deployed
The FY2023 funding inflow exceeded large investment and operating outflows. Since then, negligible net financing and continuing project spending have reduced cash. FY2025 exploration payments were materially below FY2024.
Cash at year-end
A$ million
Cash and equivalents
AI-generated presentation · values from Cash and exploration carrying value; no missing values plotted as zero.
Cash uses and financing
A$ million
Net operating cash flowNet investing cash flowNet financing cash flow
AI-generated presentation · values from Cash used for exploration and investment; no missing values plotted as zero.
Operating exploration payments
A$ million
Exploration payments within operating cash flow
AI-generated presentation · values from Cash used for exploration and investment; no missing values plotted as zero.
Cash and exploration carrying value
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Cash and equivalents | 3.627 | 32.927 | 61.952 | 26.850 | 16.042 |
| Exploration and evaluation carrying amount | 4.564 | 27.860 | 108.479 | 138.576 | 144.123 |
Exploration carrying value includes acquired interests and capitalised expenditure. It is not a cash balance or lithium valuation.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
Cash used for exploration and investment
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Net operating cash flow | (1.240) | (9.307) | (19.177) | (34.149) | (10.186) |
| Net investing cash flow | (5.019) | (2.536) | (68.352) | (0.756) | (0.337) |
| Net financing cash flow | 9.142 | 41.142 | 116.554 | (0.197) | (0.285) |
| Exploration payments within operating cash flow | (0.611) | (7.302) | (16.230) | (31.571) | (6.892) |
Exploration payments are included in operating cash flow: do not add the fourth row again to total cash uses. Acquisitions are separately included in investing cash flow.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
Consolidated balance-sheet scale
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 |
|---|---|---|---|---|
| Total assets | 13.381 | 61.860 | 176.332 | 169.745 |
| Total equity | 12.634 | 58.048 | 171.429 | 166.279 |
FY2025 consolidated totals are not selected from the packet; its parent-only equity is not substituted.
FY2023 total assets use the original consolidated total A$176.332m. A later extraction labels the A$113.411m non-current subtotal as total assets; it is not used.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
FINANCIAL REVIEW / 02
Capitalisation changes the earnings picture
Exploration assets continued to rise even as the cash balance declined. FY2025 capitalised additions were concentrated at Manna, with a smaller Marble Bar contribution; these are accounting additions rather than market values.
Loss after tax
A$ million
Loss after tax
AI-generated presentation · values from Statutory loss after tax; no missing values plotted as zero.
Capitalised additions by project
A$ million
Marble Bar capitalised expenditureManna capitalised expenditure
AI-generated presentation · values from Annual exploration additions by project; no missing values plotted as zero.
Statutory loss after tax
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Loss after tax | (1.225) | (4.252) | (4.388) | (4.370) | (3.846) |
Capitalised exploration explains why annual loss is not the full project cash commitment.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
Annual exploration additions by project
A$ million
| Metric | FY2024 | FY2025 |
|---|---|---|
| Marble Bar capitalised expenditure | 2.209 | 1.133 |
| Manna capitalised expenditure | 28.269 | 4.351 |
Annual additions, not project closing balances or cash-flow subtotals. Other movements exist in the exploration reconciliation.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
FINANCIAL REVIEW / 03
Keep future conditions separate from completed funding
The issuer described the company as having no debt. This is not rewritten as having no liabilities: lease-related financing payments remain visible in the cash-flow evidence.
Marble Bar deferred payments depend on a pre-feasibility study or mining decision and first mineral sale. Neither is treated as an unconditional current cash payment. Manna’s August approvals are subsequent events, not evidence of operating revenue.
Reading the figures
- FY2025 consolidated total assets and equity remain an extraction gap; parent-only figures are not used to fill it.
- FY2023 comparative total-assets mislabelling retained in the issue log; original consolidated total used.
- Capitalised additions, exploration cash payments and acquisition consideration are distinct measures.
- Prepared from existing year-by-year extraction records only. No raw-source retrieval, database query, financial web research or MiniMax call. Primary-author review, not an independent original-document audit; published.
Annual-report source registry
- Global Lithium Resources - 2021 Annual Report to ShareholdersExisting annual extraction, including separately identified historical comparatives.
- Global Lithium Resources - Annual Report to shareholdersExisting annual extraction, including separately identified historical comparatives.
- Global Lithium Resources - Annual Report to shareholdersExisting annual extraction, including separately identified historical comparatives.
- Global Lithium Resources - Annual Report to shareholdersExisting annual extraction, including separately identified historical comparatives.
- Global Lithium Resources - Annual Report to shareholdersExisting annual extraction, including separately identified historical comparatives.
Prepared solely from the existing year-by-year extraction datasets. No raw annual-report body, PDF, new database lookup or financial web research was used. Review is against those stored extractions, not a new independent original-document audit.
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