GT1 Reports 22% NPV Boost and 40% Staff Cut as Lithium Resource Hits 30.4Mt

Resource Growth and Project Viability

Green Technology Metals Limited (ASX: GT1) has reported a substantial increase in its lithium mineral resource inventory, now totaling 30.4 million tonnes at 1.17% lithium oxide (Li2O). This uplift is primarily driven by successful deep drilling at the Root Bay project, which alone accounts for 15.6 million tonnes at 1.29% Li2O. The updated Mineral Resource Estimate (MRE) and accompanying Preliminary Economic Assessments (PEAs) for both Root and Seymour projects underscore the strong economic potential of GT1's vertically integrated lithium strategy in Ontario, Canada.

The Root project PEA highlights a 22% increase in Net Present Value (NPV), extended mine life, and improved project economics, reinforcing its role as a cornerstone feedstock source for the planned lithium conversion facility in Thunder Bay. Similarly, the Seymour Lithium Project's standalone PEA confirms viability with a combined open-pit and underground mining approach designed to reduce waste movement and lower costs.

Strategic Cost Management Amid Market Challenges

In response to ongoing volatility in global lithium markets, GT1 has implemented rigorous cost-control measures. These include a significant 40% reduction in workforce, deferral of executive and director fees, and a scaling back of exploration activities to focus on critical-path development tasks such as permitting and feasibility studies. The company remains committed to capital preservation while positioning itself for a market recovery.

Despite these constraints, GT1 successfully raised approximately A$3.46 million through a non-renounceable entitlement offer, with strong participation from board members and long-term institutional investors, signaling confidence in the company's strategic direction and long-term outlook.

Advancing the Lithium Conversion Facility

GT1 continues to progress its lithium conversion facility project in Thunder Bay in partnership with South Korea’s EcoPro Innovation. The joint Pre-Feasibility Study (PFS) is underway, with major equipment engineering and infrastructure assessments advancing. The company has selected the Mid Continent Terminal Site in Thunder Bay for the facility, with due diligence and permitting processes actively progressing.

Pilot plant test work of GT1’s spodumene concentrate at EcoPro’s Pohang facility has confirmed the quality of the product, supporting the feasibility of the conversion process. The partnership is further strengthened by the recent appointment of Mr. Han Seung Cho from EcoPro Innovation to GT1’s Board of Directors, signaling deeper collaboration as the joint venture agreement nears finalisation.

Permitting and Government Engagement

GT1 maintains positive engagement with Canadian and Ontario government agencies, aligning its projects with recent initiatives aimed at streamlining approvals and boosting critical minerals development. The company is actively preparing funding applications under the Critical Minerals Infrastructure Fund (CMIF) and has received conditional approval for prior infrastructure funding.

Permitting efforts are underway at both the Root and Seymour projects, including environmental baseline studies and Indigenous consultations, reflecting GT1’s commitment to responsible development and community partnership.

Outlook and Market Positioning

While GT1’s development timelines and potential Final Investment Decisions remain contingent on improved lithium market conditions and funding availability, the company’s strategic initiatives have fortified its position. By focusing on projects with lower capital expenditure hurdles and maintaining a disciplined cost structure, GT1 is well-placed to capitalise on future market recoveries and the growing demand for lithium in North America’s battery supply chain.