en.Wedoany.com Reported - Core Lithium continues to advance its Finniss lithium project in the Northern Territory, Australia, with the Q2 2026 activity report disclosing a series of development and operational milestones.

During the quarter, mining commenced at the Grants open pit, and the first shipment of newly produced spodumene concentrate (SC5) remains on track for Q4. According to assessments, the Grants open pit is expected to deliver approximately 784,000 tonnes of ore, with the potential to produce around 134,000 tonnes of SC5 product over the mine's life. Meanwhile, the company initiated underground decline development at the BP33 deposit and completed logistics chain commissioning. Core also entered into an agreement with Glencore International AG to sell approximately 45,000 tonnes of lithium fines from existing Finniss stockpiles.

On the financial front, Core ended the quarter with a cash balance of A$181.8 million, up from A$91.6 million as of March 31, reflecting strengthened liquidity. Additionally, the company launched the 2026 Blackbeard exploration program to support Finniss resource growth and mine life extension, and agreed to acquire the Bynoe lithium tenements from Charger Metals.

Core Managing Director Paul Brown stated that the company rapidly transitioned into execution mode within just a few months, restarting open-pit mining at Grants, commencing underground development at BP33, launching exploration programs, strengthening the tenement portfolio, activating the logistics chain, and completing sales of two batches of fines inventory—generating cash from existing materials and further enhancing liquidity. He emphasized that the company is currently in a strong operational and financial position, with the foundation laid to advance Finniss toward steady-state production by 2028 as planned. The team will continue to deliver key milestones safely, on time, and within budget, and looks forward to delivering the first shipment of newly produced spodumene concentrate in Q4.