Liontown Resources to Update Strategy and Kathleen Valley Project at 2023 Diggers and Dealers Mining Forum

Liontown Resources Limited (ASX: LTR) has announced that its Managing Director and CEO, Tony Ottaviano, will provide an update on the company's strategy and Kathleen Valley Project during the 2023 Diggers and Dealers Mining Forum on August 7, 2023. Ottaviano's presentation will focus on the company's progress towards first production, its Direct Shipping Ore (DSO) project, government funding support, and downstream strategy.

Kathleen Valley Project Powering to Production

Liontown's flagship Kathleen Valley Project is set to achieve its target of first production in mid-2024. The mining and construction work is proceeding on schedule and is materially in line with the capital expenditure estimate, with approximately 60% of the committed spend for the project completed by the end of FY23. The underground mining services and the structural and mechanical piping contracts are scheduled to be awarded in the September quarter, which will enable Liontown to finalise its operating cost review in this quarter.

DSO Project Sanctioned

Liontown is proceeding with the delivery of a DSO product as an early source of revenue ahead of first concentrate production from the Kathleen Valley Project. The company has secured on-site crushing and supply chain services and is well advanced in engaging with customers.

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The first DSO shipment is targeted by the end of the calendar year 2023. The material for DSO has been liberated through mine plan optimisation and is in addition to Ore Reserves.

Government Funding Support

Liontown has received a joint Letter of Support from the international Export Credit Agencies (ECAs) of Australia, South Korea, and the U. S. , indicating total non-binding and conditional financing interest for up to A$300 million to support the delivery of the Kathleen Valley Project. While non-binding and conditional, the joint support provides Liontown with a strong foundation as it advances all funding options to conclusion.

Downstream Strategy

Liontown has partnered with Japan's Sumitomo Corporation to explore and investigate the development of a lithium supply chain between Australia and Japan. The study is non-binding and will explore the feasibility of using Liontown's spodumene, or a future lithium sulfate product produced in a Western Australia-based plant, to produce lithium hydroxide in Japan.

Liontown's Managing Director and CEO, Tony Ottaviano, is looking forward to presenting the company's achievements and progress at the Diggers and Dealers Mining Forum. He reiterated that Liontown Resources is powering up towards production, de-risking its project through field testing, and meeting financial targets. Through its partners, the company will be able to contribute to the rapidly expanding Li-ion battery and EV industries. Liontown is partnering to explore and bring innovative downstream lithium products developed between Australia and Japan.

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