Liontown Resources (ASX:LTR) - Managing Director of JV partner Liontown Resources, Tony Ottavanio
Managing Director of JV partner Liontown Resources, Tony Ottavanio
Source: Liontown Resources
Market Herald logo


Be the first with the news that moves the market
  • Liontown Resources (LTR) completed its first quarter under new CEO and Managing Director Tony Ottaviano
  • Mr Ottaviano began with LTR in May, with a focus on helping the company develop and finance its Kathleen Valley project
  • LTR expects a definitive feasibility study to be completed on the Lithium project by the end of 2021
  • The company ended June with $12.45 million in the bank and raised an extra $52 million post-quarter-end to fund growth
  • Liontown shares have jumped up 8.88 per cent following today’s quarterly update to trade at 92 cents each

Liontown Resources (LTR) has completed its first quarter under new CEO and Managing Director Tony Ottaviano.

Mr Ottaviano joined the materials business in May, to manage the financing and development of its flagship Kathleen Valley Lithium Project.

The lithium asset is located in Western Australia, along with LTR’s Koojan Joint Venture (JV) Project and Buldania Lithium Project.

The company spent much of the June quarter focussed on progressing the definitive feasibility study on Kathleen Valley, which should be completed in the fourth quarter of 2021.

LTR also carried out geochemical sampling and soil sampling programs at its Koojan JV and Buldania projects, respectively.

In terms of finances, the materials stock ended Q4 FY21 with $12.45 million worth of cash in the bank, spending $2.66 million on operating activities during the three-month period.

LTR has since raised an additional $52 million worth of cash earlier this month, with the funds to be spent on development programs at Kathleen Valley.

This includes funding additional testwork at the site, securing long-lead items and potential off-site infrastructure, as well as hiring key personnel.

Following today’s update, Liontown Resources’ shares were trading up 8.88 per cent at 92 cents per share at 12:55 pm AEST.

LTR by the numbers
More From The Market Herald
AusQuest (ASX:AQD) - Managing Director, Graeme Drew

" AusQuest (ASX:AQD) gets green light to drill at Los Otros

AusQuest (AQD) has been granted permits to begin drilling at its Los Otros Porphyry Copper Project in southern Peru.

" Albion Resources (ASX:ALB) eyes maiden drilling program at Lennard Shelf

Albion Resources (ALB) has received heritage clearance for its maiden drilling program at Pilbara East which is expected to kick off this month.
Sunshine Gold (ASX:SHN) - Managing Director, Damien Keys

" Sunshine Gold (ASX:SHN) confirms copper-molybdenum system at Titov

Sunshine Gold (SHN) has confirmed a large-scale copper-molybdenum system at the Titov prospect at Ravenswood West.
Sunrise Energy Metals (ASX:SRL) - CEO, Sam Riggall

" Sunrise Energy Metals (ASX:SRL) advances self-titled battery project

Sunrise Energy Metals (SRL) spent much of the September quarter focused on progressing its Sunrise Battery Materials Project in NSW.