• Positive net cash flow of $137 million and a cash balance of $561 million at Q4 close
• Record development quarter with a 35% increase in underground development
• Kathleen Valley expansion study well progressed with FID expected by end of Q1 FY27
• Average realised price of US$1,880/dmt (SC6e CIF) supporting strong cash generation
• Operational discipline with ramp-up to 2.8 Mtpa by end of FY27 tracking to plan

Liontown Resources Ltd. presented its Q4 FY26 results, highlighting a positive net cash flow of $137 million and a cash balance of $561 million at the end of the quarter. The company achieved a 35% increase in underground development quarter-on-quarter, setting the stage for a ramp-up to a 2.8 Mtpa run rate by the end of FY27. The Kathleen Valley expansion study is well underway, with a Final Investment Decision (FID) expected by the end of Q1 FY27. The average realised price of US$1,880/dmt (SC6e CIF) supported strong cash generation, and the company maintained operational discipline with its ramp-up to 2.8 Mtpa on schedule. The presentation also noted that the company's operational performance remained strong, with a 7% increase in spodumene concentrate production compared to the previous quarter.

Liontown Resources delivered FY26 guidance with a 19% increase in revenue and a 32% increase in cash balance.

The lithium market is expected to remain tight with supply deficits continuing into the end of the decade. Demand growth is accelerating, driven by factors such as the Middle East instability and the build-out of lithium battery storage capacity globally.