Core Lithium

CXO.AX

Industrial Materials · Basic Materials

Price

A$0.38

+0.01 (+1.33%)

Market Cap

A$920.0M

Exchange

Australian Securities Exchange

Winston Score

–

No score yet — Winston is napping.

We couldn’t gather enough financial data to score this stock reliably.

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Share count rising — dilution

+102.0% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 1.06B (2021) → 2.14B (2025)

Winston Score History

The full picture

Core Lithium is an Australian mining company that digs lithium out of the ground in the Northern Territory of Australia. Lithium is a key ingredient in the batteries used in electric vehicles and energy storage systems. The company's main project is the Finniss Lithium Operation, one of the first new lithium mines to be developed in Australia in recent decades.

Core Lithium makes money by selling spodumene concentrate, which is a raw lithium-bearing rock that gets shipped mainly to customers in Asia for further processing. The company is small, with operations focused entirely in Australia, and it has limited pricing power because lithium is a commodity whose price is set by global markets. The biggest risk the company faces is the sharp fall in lithium prices since 2023, which pushed it to suspend mining operations at Finniss — meaning the company is currently not generating meaningful revenue and is burning through cash while it waits for market conditions to improve.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-100.0% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+84.8% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

A$0/ year

Research and development spending

Insider Activity

0.0%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

~3 months

A$24M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Cash watch

Core Lithium has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

N/A

Data not available

Profit after running costs

Operating Margin

N/A

Data not available

Return on the money invested

ROCE

-17.9%

Weak — -17.9% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

-100.0%

Shrinking sales (-100.0% YoY)

Profit growth

EPS YoY

N/A

Data not available

How steady the profit is

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

N/A

Data not available

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Stability

What it owes vs what it owns

Debt / Equity

0.01

Conservative — low debt load (0.01)

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Dividend

Dividend Yield

1.69%

Small dividend — 1.69% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend record

Dividend Growth

N/A

no trend

Data not available

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