Core Lithium Ltd (ASX:CXO) Keeps Blackbeard Drilling in the Spotlight

Aditi Sarkar

11 November 2026 04:33 PM AEDT

Core Lithium Ltd (ASX:CXO) Keeps Blackbeard Drilling in the Spotlight

Image Source: Shutterstock

You are reading a free article with opinions that may differ from the recommendation given by Kalkine in its paid research reports. Become a Kalkine member today to get access to our research reports, in-depth technical and fundamental research. Learn more

Start Your Free Trial Now!

Highlights

• Core Lithium lodged a market-sensitive Blackbeard drilling update on 6 November 2026 during the period.

• An October announcement had also highlighted thick high-grade lithium intersections at the Blackbeard prospect recently.

• FY26 Revenue was approximately AUD 17.8 million, with a net loss of AUD 26.0 million.

• The company held about AUD 451 million in Assets against approximately AUD 75 million in liabilities.

Blackbeard drilling remains a focal point for Core Lithium Ltd (ASX:CXO) following two October and November market updates concerning lithium intersections. The Northern Territory-focused company traded higher on 11 November 2026, but the available information did not establish a direct connection between that movement and an earlier drilling announcement.

A Continued Blackbeard Programme

The company released a price-sensitive announcement titled “High-Grade Lithium Intersection Extended at Blackbeard” on 6 November 2026, following an earlier “Thick High-Grade Lithium Intersections at Blackbeard” notice around 19 October. The underlying drill data, including intercept lengths and grades, were unavailable in the available information. A substantial-holder notice was lodged on 4 November, but no new release appeared on 11 November.

Finniss and the Northern Territory

Core Lithium’s Business centres on lithium, with the Finniss project in the Northern Territory forming its principal project context. Blackbeard and BP33 are identified as exploration prospects within its Northern Territory ground. The company has been ASX-listed since 2011 and was identified in the source as an S&P/ASX 300 member.

The FY26 Financial Snapshot

For the year to 30 June 2026, revenue was approximately AUD 17.8 million and the net loss was AUD 26.0 million, compared with a loss of about AUD 23.4 million in FY25. FY24 revenue had been around AUD 189.5 million, with a net loss near AUD 207.0 million. The most recent stated asset balance was AUD 451 million, against liabilities of about AUD 75 million.

Share Activity and Next Steps

Shares traded around 26.3 cents at about 2:40pm AEDT on 11 November, up 5% on the session. Approximately 21.85 million shares changed hands, below the daily average of roughly 31.9 million. The group had about 3.24 billion shares issued and a quoted Market Value near AUD 809 million. Its 52-week range was 15 to 43 cents. Project and market Economics remain sensitive to lithium prices, and the available information confirmed no next milestone date.

FAQs

Q: What was the latest Blackbeard announcement date?

A: 6 November 2026.

Q: Which project is associated with Core Lithium?

A: The Finniss lithium project in the Northern Territory.

Q: What was the FY26 net result?

A: A loss of approximately AUD 26.0 million.

Q: Were new drill grades confirmed in the available information?

A: No. The announcement details were not available.

Download Free Report – Explore 3 Stock Ideas & Industry Insights

Unlock 3 stock ideas and key industry insights in our free report. This information is general in nature and does not consider your personal objectives, financial situation, or needs. It is not financial advice.

All investments involve risk—consider independent advice before making any investment decisions.

View 3 Research Reports

Disclaimer:

This article (“Article”) has been prepared by Kalkine Pty Limited (ABN 34 154 808 312) (Australian financial services licence number 425376) (“Kalkine”) and its related bodies corporate who are authorised to provide general financial product advice. Kalkine.com.au and its associated pages are published by Kalkine.

Any information/advice provided in this article is general in nature and does not take into account your objectives, financial situation or needs. You should therefore consider whether the information is appropriate for your objectives, financial situation and needs before acting upon it.

There may be a Product Disclosure Statement, Information Memorandum or other offer document (“Offer Document”) for the securities or other financial products referred to in Kalkine articles. You should obtain a copy of the Offer Document and consider it before making any decision about whether to acquire the security or financial product.

Kalkine strongly recommends that you seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) before acting on any advice/information in this Article or on the Kalkine website. Not all investments are appropriate for all people.

The information in this Article and on Kalkine website has been prepared from a wide variety of sources, which Kalkine, to the best of its knowledge and belief, considers accurate. Kalkine has made every effort to ensure the reliability of the information contained in its articles (including this Article), newsletters and websites. All information represents our views at the date of publication and may change without notice.

The information in this Article does not constitute an offer to sell securities or other financial products or a solicitation of an offer to buy securities or other financial products.

Kalkine does not issue, sell or deal in any financial products.

This Article may contain information on past performance of particular investments. Please note past performance is neither an indicator nor a guarantee of future performance.

To the extent permitted by law, and excluding any dishonesty or gross negligence by Kalkine, Kalkine disclaims and excludes all liability for any direct, indirect, implied, punitive, special, incidental or other consequential loss or damage arising from the use of or reliance on this Article, the Kalkine website and any information published on the Kalkine website without any warranties or representations by Kalkine to you. To the extent the law prohibits or limits this exclusion, Kalkine limits its liability to the resupply of services.

Please also read our Terms & Conditions and Financial Services Guide for further information.

Employees and/or associates of Kalkine and its related entities may hold interests in the securities or other financial products covered in this Article or on the Kalkine website. Any such employees and associates are required to comply with certain safeguards, procedures and disclosures as required by law.

Some of the images/music that may be used in the Article are copyright to their respective owner(s). Kalkine does not claim ownership of any of the pictures displayed/music used in the Article unless stated otherwise. The images/music that may be used in the Article are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.

Kalkine Media Pty Ltd, an affiliate of Kalkine Pty Ltd, may have received, or be entitled to receive, financial consideration in connection with providing information about certain entity(s) covered on its website.