• Successful commencement of spodumene concentrate production at Kathleen Valley
• Significant improvements in plant availability and lithia recovery
• Solid financial performance with $100M in sales revenue and positive EBITDA

Liontown Resources has reported its half-year financial results for the period ended 31 December 2024, highlighting strong operational and financial performance. The company successfully commenced spodumene concentrate production at its Kathleen Valley project, with the processing plant achieving an average availability of 84% during the period, reaching 92% in December. Lithia recovery also increased significantly, from 35% to 59% across the period, with the company targeting around 70% by Q3 FY26. Operationally, the company delivered strong production during the ramp-up, achieving an annualized run rate of around 2.4Mtpa in the December quarter. Financially, the company recorded $100.4M in revenue based on sales of 92,172 dmt at an average realised price of US$811/dmt. The company reported positive EBITDA during the first five months of production, despite capitalizing $39M in commissioning costs. Liontown ended the period with a strong cash balance of $192.9M, supporting its transition to underground mining at Kathleen Valley, which is scheduled to commence in early Q4 FY25.

For the second half of FY25, Liontown is targeting spodumene concentrate production of around 200,000 dmt, with a lithia recovery of approximately 65% and unit operating costs (FOB excluding sea freight and royalties) of around US$650/dmt.

Liontown remains focused on the successful ramp-up of its Kathleen Valley operation, with the transition to underground mining scheduled to commence in early Q4 FY25. The company is also exploring opportunities to expand its portfolio through exploration, partnerships, and acquisitions to further strengthen its position as a responsible battery minerals provider.