# GL1: Full Year Statutory Accounts Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/gl1-full-year-statutory-accounts--067f0186-443e-4530-9fa4-1472916763a8 Original source: https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03145658 Publisher: asx Original announcement: 2026-09-29T22:10:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-09-29T23:47:20.898Z Atlas analysis updated: 2026-09-29T23:47:20.898Z - Company: Global Lithium Resources Limited - Ticker: GL1 - Exchange: ASX - Region: Western Australia - Primary commodity: Lithium - Secondary commodities: None reported - Document categories: Resource update, Other - Extracted: 2026-09-29 23:47:21 UTC Narrative sentiment: 0.70 · Bullish ## Minestarters Atlas summary Global Lithium Resources Limited reported a net loss of A$6.85 million for the year ended June 30, 2026, alongside strategic divestments including the sale of its Kairos Minerals investment and the spin-out of Marble Bar gold assets. Significant progress was made on the Manna Lithium Project, with the grant of a Mining Lease, completion of a Definitive Feasibility Study, and a binding offtake agreement with Lopal. Post-year-end, the company acquired the Nova processing plant, leading to an integration study that dramatically improved Manna's project economics, and subsequently announced a binding scheme of arrangement for its acquisition by Titan Australia Mining Pty Ltd at A$1.15 per share. Reasoning: The document details Global Lithium's full-year financial performance, strategic divestments, and significant advancements in its flagship Manna Lithium Project, culminating in a proposed acquisition by Titan Australia Mining Pty Ltd at a substantial premium. The Manna-Nova Integration Study dramatically improved project economics, de-risking and accelerating development. These developments are highly material and novel, despite the reported net loss and asset impairment. - Positive factor: Proposed acquisition by Titan Australia Mining Pty Ltd at a significant premium, indicating strong market confidence and providing immediate value to shareholders. - Positive factor: Manna-Nova Integration Study results significantly enhanced project economics, reducing pre-production funding and increasing NPV and IRR. - Positive factor: Strategic acquisition of Nova processing plant accelerates Manna Lithium Project development. - Positive factor: Successful grant of Native Title Mining Agreement, Mining Lease, and environmental permits for Manna Lithium Project de-risks development. - Positive factor: Binding offtake agreement and equity investment from Lopal Tech Group provides funding and market certainty. - Negative factor: Company reported a net loss for the financial year. - Negative factor: Impairment loss recognized on the Marble Bar Lithium Project due to its sale. - Negative factor: Resource and reserve estimates lack explicit disclosure of cut-off grades and contained metal in this document. Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 19 ## Classification and evidence **Agreement\_Transaction** Polarity: positive Story-specific tag Definition: No canonical definition is currently available. Why it applies: The document details a binding offtake agreement with Lopal, the acquisition of the Nova processing plant, and a binding Scheme Implementation Deed with Titan Australia Mining Pty Ltd for the acquisition of Global Lithium. Evidence · text > On 22 April 2026 the Company announced the execution of a Binding Term Sheet with Jiansu Lopal Tech. Group Co., Ltd \(Lopal\) **Capital\_Raise** Polarity: positive Story-specific tag Definition: No canonical definition is currently available. Why it applies: The company completed an equity investment \(Placement\) of A$7.32 million from Lopal. Evidence · text > providing for an equity investment of A$7.32 million \(Placement\) **Permitting** Polarity: positive Story-specific tag Definition: No canonical definition is currently available. Why it applies: The company announced the successful negotiation and execution of a Native Title Mining Agreement, the grant of Mining Lease M28/414, approval for the Mining Development and Closure Proposal \(MDCP\), and approval for the Native Vegetation Clearing Permit \(NVCP\) for its Manna Lithium Project. Evidence · text > On the 13th August 2025 the Company announced the successful negotiation and execution of a Native Title Mining Agreement **Project De-risking** Polarity: positive Story-specific tag Definition: No canonical definition is currently available. Why it applies: The Manna-Nova Integration Study confirmed a significantly enhanced and accelerated development pathway for the Manna Lithium Project, reducing required pre-production funding and increasing NPV and IRR. Evidence · text > The Group announced the results of its Manna-Nova Integration Study on 16 September 2026, which confirmed a significantly enhanced and accelerated development pathway for the Manna Lithium Project **Acquisition** Polarity: positive Story-specific tag Definition: No canonical definition is currently available. Why it applies: The company executed a binding Share Purchase Agreement to acquire 100% of IGO Nova Pty Ltd and subsequently announced a binding Scheme Implementation Deed with Titan Australia Mining Pty Ltd to acquire Global Lithium. Evidence · text > it has executed a binding Share Purchase Agreement to acquire 100% of the issued share capital in IGO Nova Pty td **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: The document reports an updated Probable Ore Reserve for the Manna Lithium Project as part of the Manna-Nova Integration Study. Evidence · text > Probable Ore Reserve increased 8.0% to 21Mt at 0.89% Li2O, from the 19.4Mt at 0.91% Li2O reported in the DFS **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: The document details the results of a Definitive Feasibility Study \(DFS\) for the Manna Lithium Project. Evidence · text > On the 4th December 2025 the Company released Definitive Feasibility Study \(DFS\) results on its Manna Lithium Project **Maiden Resource** Polarity: neutral Definition: First formal MRE for the project — establishes baseline but typically exploration-stage with high Inferred component. Why it applies: The Definitive Feasibility Study reported a Maiden Ore Reserve for the Manna Lithium Project. Evidence · text > 19.4Mt at 0.91% Li2O Maiden Ore Reserve **Tonnage Growth** Polarity: positive Definition: Significant tonnage increase \(≥15%\) vs prior estimate with grade maintained or improved. Why it applies: The Probable Ore Reserve increased by 8.0% to 21Mt from 19.4Mt. Evidence · text > Probable Ore Reserve increased 8.0% to 21Mt at 0.89% Li2O **Grade Decline** Polarity: negative Definition: Average grade dropped >5% vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling. Why it applies: The Probable Ore Reserve grade decreased from 0.91% Li2O to 0.89% Li2O. Evidence · text > Probable Ore Reserve increased 8.0% to 21Mt at 0.89% Li2O, from the 19.4Mt at 0.91% Li2O reported in the DFS **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: The document does not disclose the cut-off grades used for the reported Mineral Resource Estimate or Ore Reserve figures. Evidence · text > 51.6Mt at 1.00% Li2O - total Mineral Resource Estimate \(MRE\) **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: The document reports tonnage and grade for the Mineral Resource Estimate and Ore Reserve but does not explicitly state the contained metal. Evidence · text > 51.6Mt at 1.00% Li2O - total Mineral Resource Estimate \(MRE\) ## Extracted facts Stored fact records: 19. Some facts used in scoring do not have a stored record. ## Resource Estimates (19) ### Fact 1 [Link to this fact](https://atlas-staging.minestarters.com/news/gl1-full-year-statutory-accounts--067f0186-443e-4530-9fa4-1472916763a8#fact-resource-facts-0) #### Identity - Region: australia\_wa - Reported Region: Western Australia - Ticker: GL1 #### Resource scope - Effective date: 2027-07-01T00:00:00.000Z #### Resource Data - Grade Unit: $ #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The company reported a net loss for the financial year, which is a negative financial outcome. - Negative factor: The company reported a net loss for the financial year. Evidence · text > The consolidated net loss after income tax for the financial year was $6,854,073 #### Tags used in scoring **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 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### Fact 2 [Link to this fact](https://atlas-staging.minestarters.com/news/gl1-full-year-statutory-accounts--067f0186-443e-4530-9fa4-1472916763a8#fact-resource-facts-1) #### Identity - Region: australia\_wa - Reported Region: Western Australia - Ticker: GL1 #### Resource scope - Effective date: 2027-07-01T00:00:00.000Z #### Resource Data - Grade Unit: $ #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The company realized cash from the sale of its investment in Kairos Minerals Limited, which is a neutral to slightly positive event. - Positive factor: Generated cash from the sale of a non-core investment. Evidence · text > In September 2025 the Company sold its investment in Kairos Minerals Limited. The sale of 264,000,000 shares held by the Company’s wholly owned subsidiary, GLR Australia Investments Pty Ltd, realised $7.1m before costs #### Tags used in scoring **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### Fact 3 [Link to this fact](https://atlas-staging.minestarters.com/news/gl1-full-year-statutory-accounts--067f0186-443e-4530-9fa4-1472916763a8#fact-resource-facts-2) #### Identity - Region: australia\_wa - Reported Region: Western Australia - Ticker: GL1 #### Resource scope - Effective date: 2027-07-01T00:00:00.000Z #### Resource Data - Grade Unit: A$ #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The spin-out of Marble Bar gold assets included a cash payment of A$900,000 to Global Lithium. - Positive factor: Generated cash from the spin-out of non-core gold assets. Evidence · text > The consideration paid by MB Gold to Global Lithium was 8,000,000 ordinary fully paid shares in MB Gold Limited and a cash payment of A$900,000. #### Tags used in scoring **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### Fact 4 [Link to this fact](https://atlas-staging.minestarters.com/news/gl1-full-year-statutory-accounts--067f0186-443e-4530-9fa4-1472916763a8#fact-resource-facts-3) #### Identity - Region: australia\_wa - Reported Region: Western Australia - Ticker: GL1 #### Resource scope - Effective date: 2027-07-01T00:00:00.000Z #### Resource Data - Grade Unit: A$ #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: A$7.32 million equity investment from Lopal Tech Group provides capital and strategic partnership. - Positive factor: Secured a significant equity investment from a strategic partner, strengthening the balance sheet. Evidence · text > On 22 April 2026 the Company announced the execution of a Binding Term Sheet with Jiansu Lopal Tech. Group Co., Ltd \(Lopal\) providing for an equity investment of A$7.32 million \(Placement\) #### Tags used in scoring **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 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### Fact 5 [Link to this fact](https://atlas-staging.minestarters.com/news/gl1-full-year-statutory-accounts--067f0186-443e-4530-9fa4-1472916763a8#fact-resource-facts-4) #### Identity - Region: australia\_wa - Reported Region: Western Australia - Ticker: GL1 #### Resource scope - Effective date: 2027-07-01T00:00:00.000Z #### Resource Data - Grade Unit: US$ #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: A US$75 million offtake prepayment facility from Lopal provides crucial funding for the Manna Lithium Project and secures future sales. - Positive factor: Secured a substantial offtake prepayment facility, providing significant funding for project development and market certainty. Evidence · text > Lopal will provide a maximum offtake prepayment facility of US$75 million. #### Tags used in scoring **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### Fact 6 [Link to this fact](https://atlas-staging.minestarters.com/news/gl1-full-year-statutory-accounts--067f0186-443e-4530-9fa4-1472916763a8#fact-resource-facts-5) #### Identity - Region: australia\_wa - Reported Region: Western Australia - Ticker: GL1 #### Resource scope - Effective date: 2027-07-01T00:00:00.000Z #### Resource Data - Grade Unit: A$ #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Manna Lithium Project DFS reported a strong post-tax NPV8 of A$472 million, indicating economic viability. - Positive factor: The Definitive Feasibility Study confirmed a robust post-tax NPV8 for the Manna Lithium Project. Evidence · text > Post-tax NPV8 of A$472m \(at US$1,400/t SC6.0 CIF price assumption and AUD:USD 0.67 exchange rate\) #### Tags used in scoring **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 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### Fact 7 [Link to this fact](https://atlas-staging.minestarters.com/news/gl1-full-year-statutory-accounts--067f0186-443e-4530-9fa4-1472916763a8#fact-resource-facts-6) #### Identity - Region: australia\_wa - Reported Region: Western Australia - Ticker: GL1 #### Resource scope - Effective date: 2027-07-01T00:00:00.000Z #### Resource Data - Grade Unit: % #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Manna Lithium Project DFS reported a post-tax IRR of 25.7%, indicating attractive project returns. - Positive factor: The Definitive Feasibility Study confirmed a strong post-tax IRR for the Manna Lithium Project. Evidence · text > Post-tax IRR of 25.7% #### Tags used in scoring **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 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### Fact 8 [Link to this fact](https://atlas-staging.minestarters.com/news/gl1-full-year-statutory-accounts--067f0186-443e-4530-9fa4-1472916763a8#fact-resource-facts-7) #### Identity - Region: australia\_wa - Reported Region: Western Australia - Ticker: GL1 #### Resource scope - Effective date: 2027-07-01T00:00:00.000Z #### Resource Data - Grade Unit: A$ #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Manna Lithium Project DFS estimated preproduction capital expenditure, which is a key project cost. Evidence · text > Capital efficiency - total preproduction capital expenditure \(CAPEX\) estimated at A$439.1m #### Tags used in scoring **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 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### Fact 9 [Link to this fact](https://atlas-staging.minestarters.com/news/gl1-full-year-statutory-accounts--067f0186-443e-4530-9fa4-1472916763a8#fact-resource-facts-8) Manna Lithium Project · lithium #### Identity - Project: Manna Lithium Project - Commodity: lithium - Region: australia\_wa - Reported Region: Western Australia - Ticker: GL1 #### Resource scope - Estimate type: resource - Effective date: 2027-07-01T00:00:00.000Z - Resource group id: resource:cabb9a397dea0ec61dc3 #### Resource Data - Tonnes: 51600000 - Grade: 1 - Grade Unit: % Li2O #### Prior Estimate - Resource Date: 2025-12-04 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Manna Lithium Project DFS reported a significant total Mineral Resource Estimate, providing a strong foundation for the project, though specific categories and cut-off grades are not detailed in this statement. - Positive factor: The DFS confirmed a substantial total Mineral Resource Estimate for the Manna Lithium Project. - Negative factor: Cut-off grade for the resource estimate is not disclosed in this document. - Negative factor: Contained metal for the resource estimate is not disclosed in this document. Evidence · text > 51.6Mt at 1.00% Li2O - total Mineral Resource Estimate \(MRE\) #### Tags used in scoring **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 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/gl1-full-year-statutory-accounts--067f0186-443e-4530-9fa4-1472916763a8#fact-resource-facts-9) Manna Lithium Project · lithium #### Identity - Project: Manna Lithium Project - Commodity: lithium - Region: australia\_wa - Reported Region: Western Australia - Ticker: GL1 #### Resource scope - Estimate type: reserve - Effective date: 2027-07-01T00:00:00.000Z - Resource group id: resource:9fc2d6188cb5be9f59b1 #### Resource Data - Category: probable - Tonnes: 19400000 - Grade: 0.91 - Grade Unit: % Li2O #### Prior Estimate - Resource Date: 2025-12-04 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Manna Lithium Project DFS reported a substantial Maiden Ore Reserve, which is a key de-risking milestone for the project. - Positive factor: The DFS established a significant Maiden Ore Reserve, underpinning a long mine life and de-risking the project. - Negative factor: Cut-off grade for the ore reserve is not disclosed in this document. - Negative factor: Contained metal for the ore reserve is not disclosed in this document. Evidence · text > 19.4Mt at 0.91% Li2O Maiden Ore Reserve #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **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 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### Fact 11 [Link to this fact](https://atlas-staging.minestarters.com/news/gl1-full-year-statutory-accounts--067f0186-443e-4530-9fa4-1472916763a8#fact-resource-facts-10) #### Identity - Region: australia\_wa - Reported Region: Western Australia - Ticker: GL1 #### Resource scope - Effective date: 2027-07-01T00:00:00.000Z #### Resource Data - Grade Unit: A$ #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The company entered into an agreement for the sale of its Marble Bar Lithium Project, aligning with its strategy to focus on Manna. - Positive factor: Divestment of non-core assets allows the company to focus resources on its flagship project. Evidence · text > The Company and its wholly owned subsidiary MB Lithium Pty Ltd have entered into a binding Tenements and Mineral Rights Sale Agreement with Lopal Tech Perth Pty Ltd \(Lopal Tech\), a wholly owned subsidiary of Lopal, for the sale of GL1’s interest in its Marble Bar Lithium Project, including certain non-core exploration tenements and associated lithium mineral rights for a total consideration of A$14.85 million. #### Tags used in scoring **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### Fact 12 [Link to this fact](https://atlas-staging.minestarters.com/news/gl1-full-year-statutory-accounts--067f0186-443e-4530-9fa4-1472916763a8#fact-resource-facts-11) #### Identity - Region: australia\_wa - Reported Region: Western Australia - Ticker: GL1 #### Resource scope - Effective date: 2027-07-01T00:00:00.000Z #### Resource Data - Grade Unit: A$ #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The acquisition of the Nova processing plant is a strategic move to accelerate and enhance the Manna Lithium Project. - Positive factor: Acquisition of the Nova processing plant is strategic for accelerating the Manna Lithium Project development and enhancing economics. Evidence · text > The total consideration for the acquisition is A$7.0 million. #### Tags used in scoring **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### Fact 13 [Link to this fact](https://atlas-staging.minestarters.com/news/gl1-full-year-statutory-accounts--067f0186-443e-4530-9fa4-1472916763a8#fact-resource-facts-12) #### Identity - Region: australia\_wa - Reported Region: Western Australia - Ticker: GL1 #### Resource scope - Effective date: 2027-07-01T00:00:00.000Z #### Resource Data - Grade Unit: A$ #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Manna-Nova Integration Study reported a dramatically increased post-tax NPV8 of A$946 million, representing a 100% uplift from the DFS, which is a highly positive and material development. - Positive factor: The Manna-Nova Integration Study significantly increased the post-tax NPV8 by 100%, indicating a substantial improvement in project value. - Positive factor: This enhancement de-risks the project and makes it more attractive for investment. Evidence · text > Post-tax NPV8 of A$946 million, up A$474 million \(or 100%\) on the A$472 million announced as part of the December 2025 Manna Definitive Feasibility Study \(“DFS”\) #### Tags used in scoring **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 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### Fact 14 [Link to this fact](https://atlas-staging.minestarters.com/news/gl1-full-year-statutory-accounts--067f0186-443e-4530-9fa4-1472916763a8#fact-resource-facts-13) #### Identity - Region: australia\_wa - Reported Region: Western Australia - Ticker: GL1 #### Resource scope - Effective date: 2027-07-01T00:00:00.000Z #### Resource Data - Grade Unit: % #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Manna-Nova Integration Study reported a post-tax IRR of 120%, a substantial increase from the DFS, highlighting exceptional project economics. - Positive factor: The Manna-Nova Integration Study reported a significantly higher post-tax IRR of 120%, indicating exceptional project returns. - Positive factor: This substantial increase in IRR makes the project highly attractive and de-risked. Evidence · text > Post-tax IRR of 120%, compared to 25.7% in the DFS #### Tags used in scoring **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 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### Fact 15 [Link to this fact](https://atlas-staging.minestarters.com/news/gl1-full-year-statutory-accounts--067f0186-443e-4530-9fa4-1472916763a8#fact-resource-facts-14) #### Identity - Region: australia\_wa - Reported Region: Western Australia - Ticker: GL1 #### Resource scope - Effective date: 2027-07-01T00:00:00.000Z #### Resource Data - Grade Unit: A$ #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Manna-Nova Integration Study reduced required pre-production funding to A$180.1 million, a 59% reduction, significantly de-risking the project's financing. - Positive factor: Required pre-production funding was significantly reduced by 59%, lowering capital risk and improving project feasibility. - Positive factor: Lower funding requirements make the project more accessible for financing. Evidence · text > Required pre-production funding reduced to A$180.1 million, down A$259.0 million \(59.0%\) from the A$439.1 in the DFS #### Tags used in scoring **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 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/gl1-full-year-statutory-accounts--067f0186-443e-4530-9fa4-1472916763a8#fact-resource-facts-15) Manna Lithium Project · lithium #### Identity - Project: Manna Lithium Project - Commodity: lithium - Region: australia\_wa - Reported Region: Western Australia - Ticker: GL1 #### Resource scope - Estimate type: reserve - Effective date: 2027-07-01T00:00:00.000Z - Resource group id: resource:02f6ec34049197ffed6e #### Resource Data - Category: probable - Tonnes: 21000000 - Grade: 0.89 - Grade Unit: % Li2O #### Prior Estimate - Resource Date: 2026-09-16 - Prior Tonnes: 19400000 - Prior Grade: 0.91 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The Manna-Nova Integration Study increased the Probable Ore Reserve tonnage by 8.0%, although with a slight decrease in grade, contributing to the overall improved project economics. - Positive factor: Probable Ore Reserve increased by 8.0% in tonnage, indicating growth in economically viable material. - Positive factor: The updated reserve supports the enhanced project economics from the integration study. - Negative factor: Average grade of the Probable Ore Reserve slightly declined. - Negative factor: Cut-off grade for the ore reserve is not disclosed in this document. - Negative factor: Contained metal for the ore reserve is not disclosed in this document. Evidence · text > Probable Ore Reserve increased 8.0% to 21Mt at 0.89% Li2O, from the 19.4Mt at 0.91% Li2O reported in the DFS #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **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 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### Fact 17 [Link to this fact](https://atlas-staging.minestarters.com/news/gl1-full-year-statutory-accounts--067f0186-443e-4530-9fa4-1472916763a8#fact-resource-facts-16) #### Identity - Region: australia\_wa - Reported Region: Western Australia - Ticker: GL1 #### Resource scope - Effective date: 2027-07-01T00:00:00.000Z #### Resource Data - Grade Unit: A$/share #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: Titan Australia Mining Pty Ltd's offer of A$1.15 per share for Global Lithium represents a highly material and positive event for shareholders, providing a premium valuation and certainty. - Positive factor: The offer price represents a significant premium to recent traded prices, providing immediate and certain value to shareholders. - Positive factor: The proposed acquisition by an integrated lithium business provides a clear path forward for the company's assets. Evidence · text > Offer Price of A$1.15 per share #### Tags used in scoring **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### Fact 18 [Link to this fact](https://atlas-staging.minestarters.com/news/gl1-full-year-statutory-accounts--067f0186-443e-4530-9fa4-1472916763a8#fact-resource-facts-17) #### Identity - Region: australia\_wa - Reported Region: Western Australia - Ticker: GL1 #### Resource scope - Effective date: 2027-07-01T00:00:00.000Z #### Resource Data - Grade Unit: A$ #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The proposed acquisition values Global Lithium at approximately A$333 million, indicating a strong valuation for the company. - Positive factor: The acquisition offer values Global Lithium at a substantial A$333 million, reflecting the value of its assets and future potential. Evidence · text > The Offer Price values Global Lithium at ~A$333 million #### Tags used in scoring **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### Fact 19 [Link to this fact](https://atlas-staging.minestarters.com/news/gl1-full-year-statutory-accounts--067f0186-443e-4530-9fa4-1472916763a8#fact-resource-facts-18) #### Identity - Region: australia\_wa - Reported Region: Western Australia - Ticker: GL1 #### Resource scope - Effective date: 2027-07-01T00:00:00.000Z #### Resource Data - Grade Unit: A$ #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: Titan Lithium Group is providing a significant A$120 million facility to ensure the Manna Lithium Project's development continues uninterrupted during the scheme of arrangement, which is a strong positive for project continuity. - Positive factor: Titan's provision of a A$120 million facility ensures the Manna Lithium Project's development progresses without delays during the acquisition process. - Positive factor: This funding commitment de-risks the project's timeline and future operations. Evidence · text > The Titan Lithium Group is providing Global Lithium with a facility of up to A$120m to allow Global Lithium to progress the development of the Manna Lithium Project during the Scheme. #### Tags used in scoring **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 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ## 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.