Technology Minerals PLC (LSE:TM1) chief financial officer James Cable takes Proactive's Stephen Gunnion through the company's full-year results, including highlights from its exploration portfolio. Cable discussed the recent sale of lithium assets in Ireland, describing it as a significant step to fund future developments. "I think that's going to provide cash flow for the company for all of what it does," he noted.
The CFO also covered Recyclus Group's advancements, emphasising its role as the first UK industrial-scale lithium-ion recycling company. While ramping up has been slower than expected, Cable expressed optimism due to growing relationships with major OEMs and new contracts, such as one with the Ministry of Defence.
Cable highlighted cost-cutting measures, including a freeze on director salaries, and explained the rationale behind the recent capital reorganisation, ensuring shareholders face no changes in rights. Looking ahead, he described a positive outlook for 2024, buoyed by cash flow opportunities from asset sales and loan recoveries from Recyclus.