Mon Sep 30 00:12:56 UTC 2024: ## Liontown Resources Soars on Maiden Shipment and Spot Sales

**Perth, Australia** – Liontown Resources Ltd (ASX: LTR), a leading Australian lithium miner, saw its share price jump by 6% on Monday morning, reaching 83 cents, following the release of its full-year results and the announcement of its maiden shipment of spodumene concentrate from its Kathleen Valley Lithium Project in Western Australia.

The company, despite posting a net loss after tax of $64.9 million for FY 2024, ended the period with a strong cash balance of $122.9 million and is now producing lithium and generating cash flow. Furthermore, Liontown secured a US$250 million investment and 10-year offtake extension from its key partner, LG Energy Solution, signaling long-term growth potential.

This morning’s surge in share price can be attributed to several key milestones. Liontown successfully loaded and dispatched the inaugural shipment of spodumene concentrate from Kathleen Valley to an existing offtake customer in China. This shipment, meeting contractual commitments and product specifications, marks the beginning of revenue generation from the project.

Adding to the positive news, Liontown also announced its first spot sale of 10,000 tonnes of spodumene concentrate to a Singapore-based trader at a premium price of US$802 per dry metric tonne (dmt) of SC6. This shipment is scheduled for early in the fourth quarter of 2024.

Liontown’s Managing Director and CEO, Tony Ottaviano, emphasized the significance of these milestones, stating that the company has successfully transitioned from development to production and revenue generation. The achievement, he said, highlights the company’s operational excellence and the strong demand for high-grade battery products.

Despite the positive news, Liontown’s share price remains down 70% over the past 12 months. The company’s future performance will be closely watched as it ramps up production and seeks to capitalize on the growing demand for lithium in the global battery market.

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