- Liontown Resources (LTR) continues financing discussions with local and international banks as it works to progress the development of its Kathleen Valley lithium project in WA
- The mining big-cap says future financing is underpinned by project economics, “outstanding” environmental, social, and governance (ESG) credentials, and offtake deals
- Liontown is targeting the first production from the project during the second quarter of 2024
- At the end of March, Liontown had $31 million in cash and $435 million in funds on deposit, putting its total cash position at $466 million
- Liontown shares are up 1.41 per cent to $1.44 at 12:32 pm AEST
Liontown Resources (LTR) is continuing financing discussions with local and international banks as it works to progress the development of its Kathleen Valley lithium project in WA.
The mining big-cap today said it had made important progress on the development of the battery metals project over the March quarter of 2022, with potential future financing underpinned by strong project economics, “outstanding” environmental, social, and governance (ESG) credentials, and key offtake deals.
Some of Liontown’s key progress over the quarter included the advancement of front-end engineering and design (FEED) work, tender submissions for key work packages at Kathleen Valley, and planning of an infill drilling program in the area that kicked off in April.
Liontown is targeting the first production from the project during the second quarter of 2024.
Managing Director and CEO Tony Ottaviano said the March quarter saw activity levels increase across the Liontown business as it worked to deliver the Kathleen Valley project.
“Our rapidly growing team is working on multiple fronts to move the project to a final investment decision and the start of construction,” Mr Ottaviano said.
“Final engineering and design work accelerated during the quarter with a focus on process flowsheet optimisation and detailed design for some key work packages,”
“Procurement packages also advanced with the award of a contract for one of the most important long lead items, the SAG Mill, and tender submissions received for other key packages.”
Liontown has defined a mineral resource estimate of 156 million tonnes at 1.4 per cent lithium oxide and 130 parts per million tantalum pentoxide for the Kathleen Valley project.
Meanwhile, the company said it had continued to actively explore its Buldania project, also in Western Australia, with the results of a reverse circulation program in this project area released over the March quarter.
At the end of March, Liontown had $31 million in cash and $435 million in funds on deposit, putting its total cash position at $466 million.
Liontown shares were up 1.41 per cent to $1.44 at 12:32 pm AEST. The company has a $3.16 billion market cap.