We have secured a US$250 million investment and 10-year offtake extension from foundational partner, LG Energy Solution, paving the way for long-term growth from Kathleen Valley and collaboration to explore the feasibility of establishing a lithium refinery.

Highlights

• Five-year US$250 million (A$379 million) Convertible Notes secured at a conversion price of A$1.80 per share and a coupon equal to a reference rate of SOFR.
• Total cash balance increased to approximately A$501 million, providing balance sheet strength to fund Kathleen Valley ramp-up to 3Mtpa steady state production.
• Funding will progress early enabling works in the underground mine to preserve the 4Mtpa expansion option on a 2027 timeframe and to support 3Mtpa production. Liontown continues optimisation studies for both the mine and the processing plant as part of its review of the 4Mtpa expansion case.
• Existing LG Energy Solution offtake agreement extended by 10 years (15 years in total), demonstrating sustained customer demand for high-quality lithium supply.
• Downstream collaboration agreement to explore the feasibility of establishing an IRA-compliant lithium refinery, which has the potential for long term value creation.
• Kathleen Valley Project remains on schedule and on budget to first production, which is anticipated by end of July.

Investor Teleconference

An investor teleconference was held on Tuesday 2 July. An audio recording is available below: