Liontown Resources is successfully advancing the underground ramp-up at its Kathleen Valley lithium operation, reporting a 105 per cent increase in underground ore mined for the September quarter.
The company produced 87,172 dry metric tonnes (dmt) of spodumene concentrate and sold 77,474 dmt, generating $68 million in revenue at an average realised price of US$700 per dmt.
The company ended the period with a fortified balance sheet, holding $420 million in cash. Liontown managing director and chief executive officer Tony Ottaviano said the funds, secured via a recent capital raising, set the company up for further success.
“The capital raising and Ford debt facility and offtake amendments fortified our balance sheet and provided strategic flexibility, positioning Liontown strongly for the next phase of this transition year,” Ottaviano said.
Operationally, the company noted that processing lower-grade stockpiles impacted current recoveries, which is part of its planned transition as the open pit nears completion.
“Our process plant continues to perform strongly, consistently producing saleable concentrate while handling variable OSP feed, including material with up to 40 per cent gabbro content,” Ottaviano said.
“As cleaner underground ore increasingly feeds the mill, recoveries will improve, and we remain on track to meet our 70 per cent lithia recovery target by the end of Q3 FY26.”
Ottaviano described the quarter as one of successful execution that has laid the foundations for the future.
“The September quarter was one of execution and delivery against the expectations we set ourselves and disclosed to the market. Underground production continued to ramp up to plan, with our key operating milestones achieved,” Ottaviano said.
