E3 Lithium Q2 2026 loss widens on higher staffing costs tied to demonstration facility, feasibility work
Reuters2026/08/21 00:07- E3 Lithium posted a net loss of CAD 2.7 million for the three months ended June 30, 2026, versus CAD 2.2 million a year earlier.
- Higher costs tied to scaling the Demonstration Facility and Feasibility Study work drove the wider loss, with general and administrative expense rising to CAD 1.8 million.
- Capital spending rose to CAD 6.74 million, led by CAD 6.72 million of exploration and evaluation outlays for well completions and engineering work.
- Phase 2 of the Demonstration Facility was commissioned, with reservoir testing confirming 75.8 mg/L lithium concentration and a 1,400 m³/day steady-state flow rate.
- Net cash fell to CAD 7.9 million from CAD 16.3 million at year-end, despite CAD 36.5 million of confirmed federal funding support.
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