Liontown Limited (LTR) reported a strong finish to the 2026 financial year, recording $137 million in net cash flow during the June quarter at its Kathleen Valley lithium operation. This result marks a significant improvement from the $33 million reported in the previous March quarter, boosting the company’s total cash position to $561 million. Revenue for the period reached $235 million, supported by the sale of 108,489 dry metric tonnes (dmt) of spodumene concentrate, a notable increase over the 83,912 dmt sold in the preceding three-month period.

Operational performance remained steady, with the plant achieving 92 per cent availability and producing 103,111 dmt of concentrate. While the average realised price for the quarter rose slightly to US$1,880 per dmt from US$1,845 in the March quarter, the company also reported a moderate increase in costs. The all-in sustaining cost (FOB) for the June quarter rose to A$1,314 per dmt, compared to A$1,251 per dmt in the prior period. Lithia recovery rates averaged 63 per cent, benefiting from a higher proportion of clean underground ore in the feed blend, which the operations team continues to optimise to improve recovery stability.

Underground mining development reached a record 3,316 metres for the quarter, an increase of 35 per cent compared to the March period. This rapid development is designed to open multiple mining fronts and provide the operational flexibility required to reach a target mining run-rate of 2.8 million tonnes per annum (Mtpa) by the end of the 2027 financial year. Management expects to see a significant step-up in production beginning in the second quarter of the 2027 financial year. Additionally, the company confirmed that a Final Investment Decision (FID) regarding the project’s expansion study is currently scheduled for the end of the first quarter of the 2027 financial year.

"I'm pleased to announce to our shareholders that following a record $137 million of net cash flow, Liontown now holds more than half a billion dollars in cash. It confirms what we have said about this operation and this market."

"Six months ago, our discipline was focused on building balance-sheet strength. Today, that same discipline is directed at value-accretive growth. We have the financial strength and the market to pursue what comes next."

— Tony Ottaviano, Managing Director and CEO

Safety remained a primary focus throughout the quarter, with the company completing an independent diagnostic to review its safety systems and leadership maturity at the site. Environmental management also progressed, with the approval of an updated groundwater operating strategy and successful amendments to existing groundwater licences. Renewable power generation, delivered via the onsite hybrid power station, accounted for approximately 71 per cent of the site's energy needs during the quarter. Although this percentage decreased from the 85 per cent recorded in the March quarter, the change was attributed to lower wind resources and seasonal shifts in local conditions.

Read the full announcement: June 2026 Quarterly Activities and Cashflow Report