Liontown Resources boss Tony Ottaviano says the company’s ramp up of its Kathleen Valley operation is “proceeding to schedule” following an impressive December 2024 quarter.
The lithium producer generated 88,683 dry metric tonnes of spodumene concentrate during the quarter, up from 28,171 in September – with a total of 116,854 dry metric tonnes of spodumene produced since Kathleen Valley began operations.
Equally pleasing for Liontown - which is backed by Australia's richest person Gina Rinehart - was its operational cash flow to the end of 2024.
With $16.7 million of operational cashflow during the quarter, Liontown said it had $192.9 million cash in the till as of December 31.
It also received an additional $11.9 million for a shipment of spodumene concentrate on December 25, following the reporting period.
“With both spodumene and tantalum circuits in production, alongside strategic stockpiles in place for the underground transition in the 2026 financial year, we are well-prepared to support operations well into the future,” Mr Ottaviano said.
“As we navigate the current low-price lithium environment and given our strategic approach to continuous improvement, ongoing optimisation will continue across our business.
“We remain focused on concluding our processing plant ramp up, starting underground stoping production and lifting processing plant performance.”
In November last year, the state government confirmed it would provide $150 million to help the lithium sector, amid falling prices.
This initiative was welcomed by Mr Ottaviano.
Shares in the lithium producer were up 11 per cent to 70 cents following the news, as of 10.52am AWST.
