Delta Lithium Ltd.

Delta Lithium Ltd. is a junior lithium development company headquartered in West Perth, Australia, operating primarily in Australia. The company's portfolio consists of 1 advanced exploration project. Key assets include Yinnetharra. The company's business model is centered on a dual-commodity portfolio, providing a strategic hedge against market volatility and cyclical downturns. A key operational characteristic is the advancement of certain assets to a "shovel-ready" status, supported by granted mining leases and existing approvals, which facilitates an accelerated path to production. This de-risked approach allows the organization to make timely development decisions based on market conditions. The enterprise maintains a strong balance sheet, enabling it to fund exploration and development activities at a consistent pace. This financial position is considered an enviable advantage for a junior explorer and developer, allowing for strategic land acquisitions and expanded drilling programs. The core operational focus is on building long-term value by systematically advancing its asset base through comprehensive workstreams, including metallurgical test work and geotechnical studies, which support internal scoping studies and future investment decisions.

Strategic focus centers on a dual-track development approach, prioritizing the monetization of one resource type to preserve and fund the longer-term development of its core commodity assets. The organization's growth strategy involves expanding its regional footprint through targeted farm-in joint venture agreements, which have significantly increased its prospective tenure. A key objective is to de-risk projects by advancing them to a "shovel-ready" state, supported by completed scoping studies and established mining proposals and closure plans. Management maintains a long-term perspective on commodity market fundamentals, believing current price volatility is unsustainable and that the energy transition provides a strong foundation for future demand. Capital allocation is directed towards aggressive exploration programs, including extensive drilling, to deliver and upgrade mineral resource estimates. The ultimate goal is to unlock significant shareholder value by methodically developing a large-scale resource province.

Executive leadership includes a Non-Executive Chairman who is a founding shareholder of a major, publicly listed resources company, and a Managing Director who is a qualified mining engineer with over 25 years of operational and technical experience. The board of directors consists of 6 members, 5 of whom are non-executive, ensuring a strong independent oversight structure. Governance is managed through dedicated committees, including an Audit Risk Committee and a Nomination & Remuneration Committee, which held 2 and 1 meetings respectively during the year. The full board convened 14 times during the financial year, demonstrating active engagement. The company's remuneration framework, which was supported by 97% of shareholder votes at the 2023 Annual General Meeting, is designed to align executive reward with strategic objectives and the creation of shareholder value, with the remuneration committee engaging external consultants for independent reviews.

The company has 4 substantial shareholders: Mineral Resources Limited holds a 22.98% interest, HSBC CUSTODY NOMINEES (AUSTRALIA) LIMITED holds a 12.85% interest on behalf of Waratah Capital Advisors, Idemitsu Mt Ida Pty Ltd holds a 10.95% interest, and Hancock Prospecting Pty Ltd holds a 10.65% interest. In 2024, the organization executed binding farm-in joint venture agreements with Voltaic Strategic Resources Ltd and Reach Resources Limited to earn ownership in adjacent tenement packages. This followed a 2023 agreement with Dalaroo Metals Ltd to purchase specific mineral rights. The group's corporate structure includes several wholly-owned operational subsidiaries, such as Mt Ida Gold Pty Ltd, Electrostate Malinda Pty Ltd, and Warriedar Mining Pty Ltd, which hold the entity's primary assets and conduct exploration and evaluation activities. The acquisition of Electrostate Limited was completed in 2022, forming a key part of the current asset base.