We have achieved major milestones with the maiden shipment of spodumene concentrate, and the commencement of spot sales for spodumene concentrate from Kathleen Valley Lithium Project.

First shipment of concentrate achieved

We have successfully loaded and dispatched the inaugural shipment of spodumene concentrate from our flagship Kathleen Valley operation.

The first shipment, enroute to China for an existing offtake customer, comprises concentrate with a grade that complies with our product specifications and contractual commitments.

This first shipment is a pivotal milestone for Liontown as a lithium producer and marks the beginning of generating revenue from the Kathleen Valley operations.

We continue to progress ramp-up milestones at Kathleen Valley, having produced >28,000 WMT of concentrate at a weighted average grade of 5.2% since announcing first production.

Spot sales commence

From the inception of our marketing strategy, Liontown has been clear with its position that a transparent, auditable and liquid price index is crucial to establishing a long-term sustainable lithium industry. To that end, we also advised that we would allocate production to sell in the spot market. We are now pleased to announce our first spot sale for uncontracted production.

The initial spot sale of 10,000 tonnes of spodumene concentrate to a Singapore-based trader achieved a reference price, at a premium to spot, of US$802/dry metric tonne of SC6, with shipment scheduled for early Q4 CY2024, which we reported to price reporting agencies (PRA) as part of its commitment to price transparency.

Liontown will continue to execute our spot sale strategy to ensure we maximise value for our shareholders by creating a long-term reliable price index which is truly reflective of global supply and demand dynamics for lithium.

In addition to the spot and ramp up tonnes sales, we will progressively commence fulfilling our strategic offtake agreements with LGES, Tesla and Ford.