Green Technology Metals Raises A$11 Million to Propel Seymour Lithium Project Toward Final Investment Decision

A$11 Million Recapitalisation Unlocks Financial Capacity for Seymour Project Development

Green Technology Metals completed a pivotal A$11.0 million recapitalisation during the quarter ending 30 June 2026, as announced on 1 May 2026. Managing Director Cameron Henry highlighted that this capital raise coincides with growing Canadian governmental support for critical minerals and stabilising lithium prices above project development incentive thresholds. The funding enables GT1 to complete permitting phases, finalise the Definitive Feasibility Study, and advance the Seymour project toward a Final Investment Decision (FID). This financial boost allows the company to shift from stringent cost control to a development-focused approach.

The recapitalisation strengthens GT1’s financial foundation, providing flexibility across both the Seymour and Root lithium projects. With capital secured, the company has reprioritised DFS, permitting, and financing activities to expedite reaching FID. GT1 has expanded its study and management teams by adding experienced development professionals while optimising capital expenditure and mine planning amid current market conditions. This recapitalisation represents a strategic repositioning that accelerates development momentum for the Canadian lithium producer.

Advancing Seymour DFS Across All Workstreams with Q4 2026 Target

The Seymour Definitive Feasibility Study is progressing well across multiple technical areas, aiming for completion in the fourth quarter of 2026. GT1 has engaged specialist consultants for key work packages and bolstered its internal team with metallurgical and principal engineering experts. The company plans to publish certain study components under Canada’s NI 43-101 Technical Reporting Standard to satisfy requirements of government funding bodies and financiers, alongside ASX reporting obligations. This dual compliance reflects GT1’s strategy to access both Australian capital markets and Canadian development financing.

Extensive optimisation is underway regarding mining methods and staged open pit and underground development options. Revised project design has significantly reduced the Seymour site footprint, lowering ground disturbance and civil works. Early mining optimisation results are positive, indicating a low strip ratio and high-quality ore in the first two years, supporting strong cash flow potential. These parameters are evaluated within a USD$1,500 pit shell, with potential for open cut expansion. Capital expenditure improvements from reduced earthworks combined with mining optimisation form the DFS base case.

Mine Closure Plan Submission in November 2026 Key to Ontario Permitting

The Mine Closure Plan is in advanced preparation and on schedule for submission in November 2026, a regulatory requirement in Ontario critical for permitting approvals. During the quarter, GT1 prioritised permitting activities including environmental studies, Indigenous consultations, and regulatory filings. Updated site closure documentation is being finalised with additional environmental consultation input for inclusion in permitting stages. Meeting the November 2026 deadline is a crucial near-term milestone clearing the path toward FID.

GT1 acknowledges the permitting phase as foundational for project progress in Ontario. The reduced site footprint necessitated redesign of water management and treatment plans concerning discharge quality. The company is collaborating with regulators, including the Ministry of the Environment, Conservation and Parks, to define allowable discharge limits. This thorough regulatory engagement demonstrates the rigour required and positions GT1 to meet provincial standards for project approval and development.

Ongoing Indigenous Consultation and Impact Benefit Agreement Negotiations

Throughout the quarter, Green Technology Metals maintained active engagement with Indigenous partners, including reviews related to the closure plan and optimised site layout. Recapitalisation proceeds include dedicated funding for additional technical reviews supporting Indigenous groups and facilitating Impact Benefit Agreement (IBA) negotiations. The company targets commencing IBA negotiations in the second half of 2026 following DFS advancements. This structured engagement underscores GT1’s commitment to collaborative Indigenous relations in project development.

Investing in Indigenous consultation and technical assessments reflects recognition of social licence as critical in Ontario’s project development. By allocating recapitalisation funds to these efforts and scheduling IBA negotiations within the development timeline, GT1 integrates Indigenous engagement alongside technical permitting workstreams, supporting progress toward FID.

Tantalum and Rubidium Identified as Valuable By-Product Opportunities at Seymour

During the quarter, GT1 evaluated adding tantalum and rubidium as critical mineral by-product streams in the Seymour DFS flowsheet. Both minerals are listed as US Critical Minerals and may enhance project economics. The tantalum assessment revealed a feed grade of 180 ppm Ta₂O₅, with potential niobium credits. Rubidium potential builds on a previously reported 8.3 Mt @ 0.27% Rb₂O resource at Seymour.

Incorporating these critical minerals offers significant upside optionality, aligning Seymour with North American critical minerals policy priorities. Multiple revenue streams from a single operation improve project economics and strengthen the case for investment amid policies favouring domestic sourcing of critical minerals.

Ontario Awards C$500,000 Critical Minerals Innovation Fund Grant

Following the quarter, Green Technology Metals received a C$500,000 Critical Minerals Innovation Fund grant from Ontario’s provincial government. This funding recognises the strategic importance of the Seymour Lithium Project and supports ongoing development activities. The grant reflects increasing provincial focus on critical minerals as an economic and strategic priority, complementing broader Canadian government support highlighted by Managing Director Cameron Henry.

This government support validates Seymour’s role in Ontario’s critical minerals strategy and alleviates some funding pressures. The C$500,000 grant supplements the A$11.0 million recapitalisation, demonstrating GT1’s ability to attract both capital market and government backing for its Canadian lithium development.

Global Lithium Demand Set to Double, Aligning with GT1’s Development Schedule

Global lithium demand is projected to rise from approximately 1.7 million tonnes LCE in 2025 to 3.4 million tonnes by 2030, a 13% compound annual growth rate. This surge is driven by the transition to electric vehicles and renewable energy storage, creating a multi-year opportunity for new lithium supply. GT1’s Seymour project development timeline aligns with this demand growth, positioning the company to meet increasing market needs through the late 2020s and beyond.

Managing Director Cameron Henry emphasised that lithium price stabilisation above project incentive levels supports financing and development decisions. GT1 aims to become Ontario’s first spodumene producer, capitalising on the growing demand and long lead times for new mine development. Timely project advancement is critical to participate in this expanding market.

Leadership Strengthening with Appointment of New Chief Financial Officer

Green Technology Metals is enhancing its board and management team to support progression toward FID and project execution. The company initiated an executive search to add expertise in Canadian project financing and development. Post-reporting period, Peter Nazareth was appointed Chief Financial Officer, bringing relevant financial leadership to manage strategy and financing pathways.

Managing Director Henry noted that GT1’s strategic Ontario location and clear FID pathway are not yet fully reflected in market valuation. He highlighted that disciplined execution and strengthening of leadership will be key to unlocking value. The new management additions equip GT1 with the technical and financial capabilities needed to meet its ambitious 2026 development milestones.

Strategic Ontario Location Provides Competitive Edge for Spodumene Production

GT1’s Seymour project benefits from its strategic location in Ontario, a jurisdiction with supportive critical minerals policies and proximity to North American lithium demand centres. Targeting development as Ontario’s first spodumene producer offers both strategic and market advantages. The province’s established mining regulations, skilled workforce, infrastructure, and government commitment create a favourable environment for project advancement.

Managing Director Henry remarked that the company’s Ontario positioning and FID pathway remain underappreciated by the market. As GT1 completes the DFS by Q4 2026, submits the Mine Closure Plan in November 2026, and moves toward FID, each milestone will demonstrate progress. The identification of tantalum and rubidium by-product opportunities further differentiates Seymour’s value proposition within the lithium development sector.