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2026-11-06
◂ Monitor LTR ASX

LIONTOWN LIMITED

Ramping Producer · Lithium · AU · AR Rating locked: sign in to view v8 · ltr-20261024t195920-full
Last 2026-11-06
A$0.645
1D
—
1M
—
YTD
—
1Y
—
Upside
Locked: sign in to view
Mkt cap
A$2.1B
EV
A$2B
Cash
A$560M
Debt
A$368.7M
2 newer ASX announcements not yet reflected in this valuation

Portfolio detail

Assets

3 assets

Core asset

Kathleen Valley

AU

Ramping Producer100% ownedLithiumOthers

Operating underground ramp and FID-approved brownfield expansion; additional approvals and delivery remain outstanding.

Producer · Ramping producer
Production annualised (attributable)
20.6k td
Production (last FY, 100%)
20.0k td
AISC (latest quarter)
A$26,280/td
AISC margin at spot
—
Delivery vs guidance
—
Reserve life
45.4 yrsd
Head grade
1.30% Li2O

Project location

Site imagery

Sentinel-2 · 10 m
Loading location…

© OpenStreetMap contributors. Basemap imagery © Esri (Maxar, Earthstar Geographics). Dated overlays contain modified Copernicus Sentinel data. Visible surface changes do not establish production or completion.

Published study economicsIssuer or study metrics
Initial capexA$389MPublished capital estimate
Operating cost880AUD/native dmt concentrate FOB,excludes royalties

FY30–34 operating-cost midpoint A$880/native dmt; sustaining A$90–100m/year. Expansion A$389m excludes sustaining, ramp and mine infrastructure/optimization capital.

Resources & reserves2
TypeCategoryQuantityGradeContained mineralsDate
Mineral Resourcetotal147 Mt ore1.33% Li2OLithium · Others2026-06-30
Ore Reserveproved_and_probable68.8 Mt ore1.32% Li2OLithium · Others2026-06-30
Tenements1
tenement-m36-460Granted— None · No expiry supplied
Milestones2
  1. Underground2.8Mtpa run rate

    Pending · High materiality

  2. Expansion completion endQ2FY29

    Pending · High materiality

Permits & approvals3
PermitJurisdictionStatusExpiryCritical path
Wastewater treatment plant operating approvalWestern Australia DWERRequired—Yes
Water abstraction licencesWestern Australia DWERRequired—Yes
Native vegetation clearing permitWestern Australia DWERRequired—Yes
Economic studies1
StudyStageStatusDateSummary
September2026 expansion FID operating planOperating PlanCurrent2026-09-30A$389m expansion,4.2Mtpa plant, average780kdmtSC5.4 fromFY30–34,20+ year planned life including21.5% Inferred ore; no public full annual cash-flow plan.

Other

Buldania

AU

Resource Stage100% ownedLithiumOthers

Resource with planned scoping work

Resource / scoping · Resource stage
Contained metal (attributable)
150.0k td
Resource grade
1.00% Li2O
% Measured + Indicated
60.7%d
Resource tonnes
15.00 Mt
Our value per attrib. contained unit
Locked
Mining method
Open pit potential

Project location

Location confirmed

Loading location…

© OpenStreetMap contributors. Basemap imagery © Esri (Maxar, Earthstar Geographics). Dated overlays contain modified Copernicus Sentinel data. Visible surface changes do not establish production or completion.

Resources & reserves1
TypeCategoryQuantityGradeContained mineralsDate
Mineral Resourcetotal15 Mt ore1% Li2OLithium · Others2026-06-30
Tenements5
tenement-e63-856Granted— None · No expiry supplied
tenement-m63-647Granted— None · No expiry supplied
tenement-p63-1977Granted— None · No expiry supplied
tenement-e63-1660Granted— None · No expiry supplied
tenement-e63-2369Granted— None · No expiry supplied

Other

Centenario farm-in rights

AR

Early Explorer100% ownedLithium

100% of acquired contractual farm-in rights; 0% current Vertex/project equity before Phase1 expenditure gate. Future interests49/51/75/100% are conditional. Rights, not100% of an operating brine project, are valued.

Exploration · Early explorer
Ownership
100%d
Commodity
Li2Or
Country
ARr
Best recent intercept (grade x width)
—
Metres drilled (12M)
—
Exploration spend (12M)
—

d derivedr our researchg guidances study forecastm daily marketNo marker: as reported— / NM missing or not meaningful (hover for why)

Stock database

Other assets

Plants, holdings and assets valued inside a project
Undisclosed listed investments · Equity investment · Held
Investee
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Holding
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Shares held
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Market value
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% of holder's market cap
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Cost basis
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