v3.26.3
Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2024
Operating activities      
Profit/(loss) before income tax $ 46,424 $ (249,050) [1] $ (75,696) [1]
Adjustments for:      
Depreciation and amortisation expense 23,630 24,983 [1] 22,146 [1]
Employee share awards expense 3,663 1,711 [1] (155) [1]
Fair value adjustments to financial instruments [2] 0 (2,942) [1] 0 [1]
Gain on bargain purchase [3] (33,109) 0 [1] 0 [1]
Impairment and write down of financial assets 0 354 [1] 5,333 [1]
Impairment/(reversal of impairment) of non-financial assets [4],[5] (156,013) 175,612 [1] 11,189 [1]
Income from sale of tax benefits under flow through share arrangements [6] 0 (3,937) [1] (3,471) [1]
Net financial income and expenses (725) 670 [1] (1,918) [1]
Net loss on disposal of financial and non-financial assets 102 0 [1] 828 [1]
Adjustments for losses (gains) on disposal of financial and non-financial assets 102 0 [1] 828 [1]
Net movement in inventories relating to net realisable value adjustments (9,454) 2,718 [1] 6,843 [1]
Write down on settlement of pre-existing contractual arrangement [3] 137,000 0 [1] 0 [1]
Changes in assets and liabilities:      
Trade and other receivables (22,284) (4,226) [1] (6,763) [1]
Inventories (17,873) 14,659 [1] (24,340) [1]
Other assets 2,683 2,600 [1] 3,420 [1]
Trade and other payables (1,791) (3,482) [1] 12,439 [1]
Provisions and other liabilities (17,829) 28,384 [1] 3,387 [1]
Cash used in operations (45,576) (11,946) [1] (46,758) [1]
Interest received 2,653 2,882 [1] 5,027 [1]
Interest paid (682) (539) [1] (647) [1]
Net cash flows used in operating activities (43,605) [7] (9,603) [1] (42,378) [1]
Investing activities      
Exploration expenditure (503) (20,398) [1] (17,230) [1]
Exploration expenditure expensed and included in operating cash flows 503 1,011 [1] 0 [1]
Purchases of property, plant and equipment (24,027) (12,729) [1] (67,172) [1]
Advances to affiliates (1,397) 0 [1] 0 [1]
Cash outflows from investing activities (25,424) (32,116) [1] (84,402) [1]
Cash and cash equivalents acquired on business combination 34,452 0 [1] 0 [1]
Proceeds from sale of financial assets 0 0 [1] 9,630 [1]
Proceeds from sale of property, plant and equipment 2,913 0 [1] 0 [1]
Net cash flows from/(used in) investing activities 11,941 (32,116) [1] (74,772) [1]
Financing activities      
Proceeds from non-controlling interests 0 6,761 [1] 17,728 [1]
Proceeds from interest bearing liabilities 0 770 [1] 0 [1]
Repayment of interest bearing liabilities (4,146) (2,223) [1] (1,789) [1]
Proceeds from issue of shares and exercise of options 253,891 25,899 [1] 25,413 [1]
Transaction costs associated with share issues (9,144) (1,330) [1] (794) [1]
Net cash flows from financing activities 240,601 29,877 [1] 40,558 [1]
Net increase/(decrease) in cash and cash equivalents 208,937 (11,842) [1] (76,592) [1]
Cash and cash equivalents at the beginning of the financial year [1] 47,254 [8] 60,464 139,932
Foreign exchange rate differences on cash and cash equivalents (912) (1,368) [1] (2,876) [1]
Cash and cash equivalents at the end of the financial year $ 255,279 [8] $ 47,254 [1],[8] $ 60,464 [1]
[1] Refer to Note 2 (a) for details on translation of prior period comparatives to United States dollars to conform with changes in presentation currency.
[2] Adjustment to profit/(loss) which is reported as part of ‘North American Lithium’.
[3] Adjustment to profit/(loss) which is reported as part of ‘Group / unallocated items and eliminations’. Refer to Note 30 (d) for further details.
[4] The impairment reversal of $156.0 million for the year ended 30 June 2026 relates to North American Lithium and includes an allocation of $0.4 million to right-of-use assets.
[5] Adjustment to profit/(loss) which is reported as part of ‘North American Lithium’ (2026: profit of $156.0 million; 2025: $175.6 million; 2024: $3.8 million), ‘All other operations’ (2026 and 2025: Nil; 2024: $4.1 million) and ‘Group / unallocated items and eliminations’ (2026 and 2025: Nil; 2024: $3.3 million). Refer to Note 14 for further details.
[6] Adjustment to profit/(loss) which is reported as part of ‘Group / unallocated items and eliminations’.
[7] Net cash flows used in operating activities for the year ended 30 June 2026 includes cash outflows of $25.2 million associated with non-recurring merger transaction and integration costs, of which $14.6 million was accounted for and accrued by Piedmont prior to merger completion.
[8] Cash and cash equivalents restricted by legal or contractual arrangements as at 30 June 2026 is nil (2025: $0.1 million).