By Digifin Pty Ltd · About this coverage
Key Points
- Record 4,021 metres of underground development, up 21 per cent on Q4 FY26
- Spodumene concentrate production of 77,982 dmt and sales of 82,561 dmt
- Average realised price of US$1,966/dmt SC6e
- Cash of $502 million at quarter end after net cash outflow of $58 million
- Approved expansion capital of $389 million targets ~780,000 dmt a year from FY30
About Liontown (ASX:LTR)
Liontown Limited is an ASX-listed lithium mining company headquartered in Perth. It owns and operates the Kathleen Valley lithium operation in the Northern Goldfields of Western Australia, where it mines and processes spodumene into lithium concentrate for export to battery and chemical customers. It also holds the Buldania lithium project in Western Australia.
Liontown (ASX:LTR)'s September quarter report covers the ramp-up of the underground mine at Kathleen Valley and the Board's approval of the Kathleen Valley expansion, which targets higher production and lower operating costs from FY30.
Underground development reached a record 4,021 metres, up 21 per cent on Q4 FY26, and Liontown expects the annualised ore mining rate to step up from ~1.6 to ~1.9 Mtpa in Q2 FY27, building towards a target run rate of 2.8 Mtpa by the end of FY27. Spodumene concentrate production was 77,982 dmt, and 82,561 dmt was sold at an average grade of 5.2% Li2O for revenue of $199 million. The average realised price was US$1,966/dmt SC6e. Unit operating costs were A$1,259/dmt sold FOB, compared with A$995/dmt in the June Quarter. Operating cash flow was $47 million after a one-off customer settlement payment, net cash outflow was $58 million, and cash was $502 million at quarter end. The approved expansion capital of $389 million is intended to lift steady state production to a targeted five-year average of ~780,000 dmt a year (on an SC5.4 basis) from FY30. Liontown also began a staged farm-in to the Centenario lithium brine project in Argentina.
Lithia recovery fell to 60 per cent from 63 per cent on lower quality open pit stockpile feed. Liontown expects annual production to meet FY27 guidance of 390 – 440 kdmt as the underground ramp-up continues, but one shipment moved into the December Quarter.
Source: Liontown Limited (ASX:LTR), 29 October 2026. Summary content supplied by Digifin Pty Ltd.
News summary only, not financial advice. It does not consider your objectives, financial situation or needs.