CleanTech Lithium PLC (AIM:CTL) chief executive Ignacio Mehech, in Monday's final results statement, said 2025 and early 2026 had marked “a period of meaningful progress” for the company.
In particular, he pointed to the special lithium operating contract terms for the Laguna Verde project, PFS, fundraising and strategic partner process.
The company, meanwhile, reported that it had cut its 2025 loss sharply and strengthened its balance sheet during a year focused on preserving cash and advancing its Laguna Verde lithium project in Chile.
The AIM-listed company reported a loss after tax of £2.81 million for the year to 31 December 2025, compared with £7.24 million a year earlier. Administrative costs fell to £1.42 million from £3.69 million, reflecting a cost-cutting programme that included lower PR, investor relations and travel spend, alongside a positive foreign exchange swing.
Cash at year-end stood at £1.84 million, up from £0.13 million, while net assets rose to £19.4 million from £14.0 million. Exploration and evaluation assets increased to £42.1 million, helped by the acquisition of additional licence blocks at Laguna Verde and investment in the direct lithium extraction pilot plant, resource work and pre-feasibility study.
Since the period end, CleanTech has agreed terms for the special lithium operating contract, or CEOL, for Laguna Verde, published the project’s PFS and conditionally raised approximately £5.4 million before expenses, including a retail offer. Loan note holders have also agreed to convert outstanding principal and premiums into equity, conditional on the first tranche of fundraising shares being admitted to AIM.
CleanTech has appointed Cutfield Freeman & Co to help secure a strategic partner to fund Laguna Verde through the definitive feasibility study, environmental impact assessment and final investment decision.
