September 2023 Quarterly Activities Report
The Kathleen Valley Lithium Project is now more than 50% complete with a clear line of sight to first production mid-2024.
During the September quarter, we awarded the final major mining and construction contracts for Kathleen Valley, bringing capital costs committed to approximately 90 percent and de-risking the pathway to first production.
- No Lost-time Injuries were recorded, with around 530,000 site hours worked, up from 326,000 in the June quarter.
- Kathleen Valley is more than 50 percent complete.
- Updated estimate of the Kathleen Valley Project capital cost (including pre-production mining) to first production
of A$951 million.
- All major mining and construction contracts were awarded and approximately 90 percent of Project capital costs
committed, de-risking the pathway to first production.
- Average cash cost (C1) expected to be A$651 per SC6 dry metric tonne over the initial 10 years of production.
- General Manager Operations appointed and 47 people hired during the quarter, in-line with workforce plan.
- Underground Mining Services contract awarded to Tier 1 contractor Byrnecut.
- Structural, Mechanical, Piping and Electrical & Instrumentation contract awarded to Tier 1 contractor
- Total material movement during the quarter was 1.4 million bulk cubic metres from both Kathleen’s Corner and
Mount Mann pits including 132,813 tonnes of ore.
- Steel and plate fabrication reached 2,423 tonnes, totalling more than 70 percent completed.
- More than 3,000m3 of structural concrete was poured at the Process Plant throughout the quarter. Process Plant
total structural concrete poured to date is over 8,800m3 from a total of 10,900m3
, and remains on schedule.
- Hybrid Power Station substantially advanced with the solar farm now 82 percent complete, thermal power station
and LNG facilities 50 percent complete, and the first wind turbine footing poured.
- A revised conditional and non-binding indicative proposal was received from Albemarle on 4 September to acquire
100% of Liontown for A$3.00 in cash per share via scheme of arrangement. Subsequent to the end of the quarter,
Albemarle advised Liontown of its decision to withdraw due to the growing complexities associated with executing
- During the quarter the Company drew down A$128.6 million under the A$300 million finance facility with Ford, with
A$52.7 million remaining undrawn.
- The Company’s cash balance as at 30 September 2023 was A$285.0 million