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Liontown Limited (ASX:LTR) is heading towards the year’s end above $1.50 a share, thanks to the completion of open-pit mining at its Kathleen Valley lithium operation as the producer heads into fully underground mining.
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Final trucks left Kathleen’s Corner pit this week, Liontown reported this morning, which marks the last major hurdle in a long three-year operation.
These works from 2022 to 2025 focused on building the site’s ROM pad, getting a tailings storage facility set up, and providing an initial feed mill. Strategic stockpiles from this open pit will now ensure “operational flexibility” as well as feed security up to FY27 as underground production really gets going.
“Completing the open pit on schedule is a significant achievement,” Liontown’s managing director, Tony Ottaviano, declared. “The plan was set five years ago as part of our DFS, and delivering… is a testament to the strength, skill, and determination of our team and contractor, Iron Mine Contracting.”
Underground mining is already delivering consistent, clean ore to the mill and provides flexibility to prioritise higher-margin ore while scaling through CY26. “Our underground mine is progressing to plan,” Mr Ottaviano said.
When it came to safety, Liontown was just as happy. The early open-pit setup was run within a relatively small footprint, the lithium explorer suggested, and in close collaboration with the Tjiwarl through the process.
And Liontown shareholders have been left ecstatic, with many in the HotCopper forums threads declaring this the biggest victory of the calendar year.
Share action reflected a similar sentiment; LTR shares have been as much as +4% higher today, all but sealing a bumper revival year for the lithium stock. To date, the battery minerals provider is worth 191% more YTD. Considering Liontown has bounced from 43.5c to ~$1.50/sh, it’s been a big year.
The overall recommendation for Liontow these days is “hold” for CY26.
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