ASX-listed Green Technology Metals (GT1) is doubling down on its Canadian lithium strategy despite industry-wide headwinds, with MD Cameron Henry saying the company remains confident in its vertically integrated approach and long-term project fundamentals.

“It’s been a challenging 12 months for the lithium sector, but our long-term strategy remains unchanged,” Henry said in a statement on Wednesday.

“While market conditions have required us to slow down, we continue to have strong conviction in the quality of our assets, their location, and our vertically integrated approach in Canada, underpinned by Tier 1 strategic partnerships with EcoPro Innovation and other lithium focused businesses.”

Henry’s comments come amid a cooling lithium market that has forced GT1 to defer the release of its definitive feasibility study (DFS) for the Seymour project, in north-western Ontario. The study, originally expected this year, will be delayed as part of a broader cost discipline initiative that includes workforce reductions.

The company has taken action to preserve capital while focusing resources on critical development work at Seymour. Measures implemented over the past six months include workforce reductions, suspension of exploration across all projects, and deferral of executive management and director fees. Major DFS-related expenditures have been delayed, though about 70% of the study is already complete.

GT1 has also reduced contractor expenditure, demobilised exploration camps, and instituted payment plans with key creditors to maintain financial flexibility.

“Although slowing the DFS was a difficult but necessary decision, we remain focused on advancing the critical development work required to ensure the Seymour project moves towards completion of permitting in consultation with our Indigenous partners and will be ready for investment decisions,” Henry said.

Despite the slowdown, GT1 has secured several key milestones in the past year, including a letter of interest from Export Development Canada, ongoing support from the Canadian government, and the delivery of a 30-million-tonne mineral resource. The company has also applied for an additional C$5.5-million in funding under the Critical Minerals Infrastructure Fund to support engineering and consultation work at both its Seymour and Root projects.

“These foundations place us in a strong position to respond when the market recovers and we’ll be ready,” Henry said.

GT1 is currently reviewing all nine of its lithium projects in Canada, with early indications pointing to the presence of high-value critical mineral by-products. The review may open up new commercial pathways as the company looks to maximise the strategic value of its asset portfolio.

“This period of disciplined capital preservation also provides an opportunity to explore new avenues to create value for shareholders, including a full review of our tenement portfolio and technical database, which may unlock further strategic opportunities aligned with current market demands and our long-term vision,” Henry said.

The company continues to emphasise its commitment to environmental stewardship and First Nations engagement. GT1 said it views the Canadian government’s push for a domestic critical minerals supply chain as an important tailwind for its future development plans.

GT1's share price traded 4% lower at A$0.022 apiece on Wednesday.