Lithium Australia said on Monday it would refocus operations on "revenue-generating" battery recycling and sales, cutting costs and jobs as its seeks to weather a slump in raw materials prices exacerbated by the coronavirus pandemic.
In a stock exchange filing, the Perth-based firm forecast "significant revenue" from its battery businesses in fiscal 2021, without disclosing exact numbers. With a market value of about $20-million, the firm reported an operating loss after income tax for the half December 2019 of just over A$3-million ($2.10-million).