• Successful ramp-up with over 200,000 dmt of ~5.2% spodumene concentrate produced to date
• Continued improvement in plant performance, with lithia recovery increasing to 64%
• Underground production commenced on schedule, with mine development ahead of plan

Liontown Resources Ltd has reported strong operational and financial results for the March 2025 quarter. The company produced 95,709 dmt of spodumene concentrate at an average grade of 5.1% Li2O, a 12% increase on the previous quarter. Sales volumes also increased by 15% to 93,940 dmt, with the company achieving an average realised price of US$815/dmt SC6e (CIF). The company's plant performance continued to improve, with lithia recovery increasing from 58% in the previous quarter to 64% in Q3 FY25. Underground mining also commenced on schedule, with 1,849m of development achieved during the quarter, 160m ahead of plan. The company's cash balance remained robust at A$173 million at the end of the quarter, with 23kt of saleable concentrate on hand. Liontown remains on track to achieve its 70% lithia recovery target by Q3 FY26.

The company's 2H FY25 guidance remains unchanged, with costs currently expected at the upper end of the range.

Liontown continues to see strong demand for its Tier 1 jurisdiction lithium supply, with major battery makers forecasting significant growth in lithium demand for both electric vehicles and energy storage systems over the coming years.