# CXO: Quarterly Activities and Cashflow Report Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/cxo-quarterly-activities-and-cashflow-report--0f57de1d-3498-4dd3-a3c1-1679f697a8ad Original source: https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03152006 Publisher: asx Original announcement: 2026-10-13T21:39:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-10-13T22:19:18.407Z Atlas analysis updated: 2026-10-13T22:19:18.407Z - Company: Core Lithium Ltd - Ticker: CXO - Exchange: ASX - Region: Northern Territory - Primary commodity: Lithium - Secondary commodities: None reported - Document categories: Other, Drill results, Capital raise - Extracted: 2026-10-13 22:19:19 UTC Narrative sentiment: 0.70 · Bullish ## Minestarters Atlas summary Core Lithium reported a productive September quarter, achieving first spodumene concentrate production at its Finniss Lithium Operation and securing full funding for the project through to steady-state production in 2028. Extensional drilling at BP33 returned high-grade lithium intercepts, demonstrating potential beyond the current Mineral Resource. The company also completed the sale of its remaining lithium fines stockpile, contributing A$38.5 million in revenue, and ended the quarter with a strong cash balance of A$200 million. Reasoning: Core Lithium reported a productive quarter with key operational milestones including first spodumene concentrate production and strong extensional drill results. The company also secured full funding for its Finniss project and increased plant throughput capacity, indicating positive progress towards steady-state production. - Positive factor: First spodumene concentrate production achieved - Positive factor: Strong extensional drill results at BP33 - Positive factor: Project fully funded to steady-state production - Positive factor: Increased plant throughput capacity - Positive factor: Significant revenue generated from lithium fines sale Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 6 ## Classification and evidence **Bonanza Intercept** Polarity: positive Definition: Exceptionally high-grade zone, well above the deposit-type norm. Why it applies: The 3.43m at 2.44% Li2O intercept is an exceptional high-grade result, matching the company's best historical grade and exceeding the 75th percentile for lithium deposits. Evidence · text > 3.43m @ 2.44% Li2O from 616.54m **Step-Out Extension** Polarity: positive Definition: Mineralization extended beyond the previously known limit. Why it applies: Extensional drilling at BP33 was designed to target potential extensions to mineralisation beyond the current Mineral Resource. Evidence · text > Extensional drilling at BP33 returned... providing further evidence of high-grade mineralisation beyond the current Mineral Resource. **Step-Out Extension** Polarity: positive Definition: Mineralization extended beyond the previously known limit. Why it applies: Extensional drilling at BP33 was designed to target potential extensions to mineralisation beyond the current Mineral Resource. Evidence · text > Extensional drilling at BP33 returned... providing further evidence of high-grade mineralisation beyond the current Mineral Resource. **Funding Secured** Polarity: positive Story-specific tag Definition: No canonical definition is currently available. Why it applies: The receipt of Tranche 2 Convertible Note funds completed the funding package for Finniss, ensuring it is fully funded through to steady-state production in 2028. Evidence · text > Strong funding position with the receipt of Tranche 2 Convertible Note funds of US$44 million \(~A$62 million\) following FIRB approval, completing the funding package for Finniss, which is fully funded through to steady-state production in 2028. **Funding Secured** Polarity: positive Story-specific tag Definition: No canonical definition is currently available. Why it applies: The drawdown of Tranche 1 of the Senior Debt Facility contributed to the overall funding package for the Finniss project. Evidence · text > A$35.7 million \(net of costs\) was received from Tranche 1 of the Senior Debt Facility drawdown. **First Production** Polarity: positive Story-specific tag Definition: No canonical definition is currently available. Why it applies: The company achieved a significant milestone with the production of first spodumene concentrate at Finniss. Evidence · text > First spodumene concentrate was produced, marking a major milestone in the staged restart at Finniss **Throughput Increase** Polarity: positive Story-specific tag Definition: No canonical definition is currently available. Why it applies: Targeted brownfields upgrades to the processing plant are expected to increase throughput capacity by approximately 20% to 1.2 million tonnes per annum. Evidence · text > expected to increase throughput capacity by approximately 20% to 1.2 million tonnes per annum. ## Extracted facts Stored fact records: 2. Some facts used in scoring do not have a stored record. ## Drill Results (2) ### NMRD100 [Link to this fact](https://atlas-staging.minestarters.com/news/cxo-quarterly-activities-and-cashflow-report--0f57de1d-3498-4dd3-a3c1-1679f697a8ad#fact-drill-facts-0) these highlight the scale of the mineralised · lithium #### Identity - Hole ID: NMRD100 - Project: these highlight the scale of the mineralised - Commodity: lithium - Region: australia\_nt - Reported Region: australia\_nt - Ticker: CXO #### Geometry - Grade: 2.09 - Grade Unit: % - Intercept: 34.08 m - From: 578.7 m - To: 612.78 m - Intercept Depth: 578.7 m #### Classification - Program: exploration - Sample Type: drill - Group ID: NMRD100:578.7-612.78 - Mining Method: underground #### QA/QC - QA/QC Methods: standards #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-13T00:00:00.000Z Reasoning: This intercept shows strong grade and significant width, extending known mineralization at BP33 and contributing to the overall resource potential. The GT product of 71.29 is strong, and the grade is good for lithium. - Positive factor: High-grade intercept - Positive factor: Significant width - Positive factor: Extends mineralization beyond current resource - Positive factor: GT product is strong Evidence · text > 34.08m @ 2.09% Li2O from 578.7m in NMRD100 #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### NMRD100 [Link to this fact](https://atlas-staging.minestarters.com/news/cxo-quarterly-activities-and-cashflow-report--0f57de1d-3498-4dd3-a3c1-1679f697a8ad#fact-drill-facts-1) these highlight the scale of the mineralised · lithium #### Identity - Hole ID: NMRD100 - Project: these highlight the scale of the mineralised - Commodity: lithium - Region: australia\_nt - Reported Region: australia\_nt - Ticker: CXO #### Geometry - Grade: 2.44 - Grade Unit: % - Intercept: 3.43 m - From: 616.54 m - To: 619.97 m - Intercept Depth: 578.7 m #### Classification - Program: exploration - Sample Type: drill - Group ID: NMRD100:616.54-619.97 - Mining Method: underground #### QA/QC - QA/QC Methods: standards #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-13T00:00:00.000Z Reasoning: This intercept shows an exceptional high-grade lithium result, matching the company's best historical grade, further confirming the high-grade nature of the BP33 deposit, despite its narrow width. - Positive factor: Exceptional high-grade intercept - Positive factor: Extends mineralization beyond current resource - Positive factor: Grade matches company's best historical grade - Negative factor: Narrow intercept length Evidence · text > 3.43m @ 2.44% Li2O from 616.54m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.