正文 · 原文
28/10/2026
Underground mine ramp-up progressing to plan and Kathleen Valley expansion approved
Liontown advanced all strategic pillars during the September Quarter, with the ramp-up of the underground mine the key priority. Underground development for the Quarter reached 4,021 metres, a record for the operation and up 21 per cent on Q4 FY26. Cash at bank was $502 million at quarter end.
Highlights:
Financial performance
- $193 million cash receipts from customers
- Underlying operating cashflow of $69 million with one-off customer settlement payment1 resulting in $47 million of operating cash flow for the quarter
- $82 million of capital expenditure, including $7m initial upfront payment for Centenario farm-in
- $58 million of net cash outflow for the quarter
- $502 million cash at quarter-end with 16,223 dmt of saleable inventory on hand
Operational performance
- 77,982 dmt spodumene concentrate produced
- 82,561 dmt concentrate sold across five parcels at an average grade of 5.2% Li2O
- A record 4,021 metres of underground development achieved during the quarter, which is expected to enable a step-change in the annualised ore mining rate from ~1.6 to ~1.9 million tonnes per annum (Mtpa) in Q2 FY27
Strategic milestones
- Kathleen Valley expansion approved, lifting steady state spodumene concentrate production to a targeted five-year average of ~780,000 dmt a year (on an SC5.4 basis) and reducing targeted average steady state operating costs to $880/dmt3 (range mid point) for five years, both from FY30
- Staged farm-in to the Centenario lithium brine project in Argentina, Liontown’s initial entry into lithium
brine