Alita Resources booked a net profit of A$2.31 million for the six months ended Dec 31, 2024, down sharply from A$146.14 million a year earlier, when the prior period was flattered by a one-off gain on the sale of its lithium business. The latest result was underpinned by higher interest income and lower overheads, swinging the company back into the black on its continuing operations.

Earnings per share came in at 0.16 cents, against 9.90 cents a year ago. The group did not declare an interim dividend.

Finance income rose to A$2.21 million from A$0.14 million, reflecting the accrual of interest on funds held in escrow pending resolution of tax matters with the Australian Taxation Office. Administrative and regulatory expenses were pared back to A$0.94 million from A$2.34 million, while finance costs dropped to zero after the repayment of borrowings last year. No operating revenue was recorded following the completion of the Bald Hill mine divestment in November 2023.

The prior-year comparative included A$150.24 million of post-tax profit from discontinued operations, mainly the gain on the sale of Tawana Resources and its subsidiary Lithco No. 2, which owned the Bald Hill lithium mine.

Alita ended the period with A$1.61 million in cash and A$100.34 million held in an escrow account. The escrowed funds, plus a receivable of A$58.17 million for tax reimbursements from Tawana, give the company total current assets of A$161.18 million against current liabilities of A$99.63 million.

Looking ahead, the board said it is prioritising statutory compliance, concluding outstanding tax disputes and assessing future corporate initiatives. On Oct 10, 2025, Mineral Resources (MinRes) provided a A$2.0 million loan to cover ongoing compliance and management costs, and has guaranteed that at least A$25.0 million will remain available to settle creditor claims once tax matters are finalised.

Although no operating segments remain following the divestment, management noted that the release of escrowed funds after the tax issue is resolved would significantly improve liquidity and allow the company to pursue new opportunities.