Quarterly Activities ReportFor the period ended 31 March 2023 28...

Quarterly Activities Report
For the period ended 31 March 2023 28 April 2023
Mining operations commenced at Kathleen Valley while construction progressed at pace on
processing infrastructure, ROM pad, TSF and other mine site services. The Kathleen Valley Lithium
Project remains on track for first production mid-2024.
Highlights
• Strong safety focus with no Lost-time Injuries recorded for the period
• Continued positive engagement with Tjiwarl traditional owners including data consolidation to update the Cultural
Heritage Management Plan
• Mining activity commenced with first blast and 771,000 BCM of Total Material Movement on site
• Construction at Kathleen Valley continued at pace with a focus on earthworks, processing infrastructure
foundations and delivery of pre-ordered critical path equipment progressing to site
• Rapid expansion of the Accommodation Village with 444 rooms now on site and dining hall commissioned
• Underground mining tender issued to market for award in the second half of 2023
• Ongoing optimisation identified opportunity to expand initial plant capacity and updated capital estimate
reflecting scope changes and industry-wide cost escalation
• Large focus on detailed design completion and incorporation of throughput increase to 3 Mtpa
• DSO opportunity progressed with ore already being stockpiled, samples sent to potential customers and
commercial discussions advancing
• Continuation of Buldania exploration program and Olympio farm-in executed
• Cash at bank of $305.1 million and first draw down of Ford funding facility subsequent to the end of the quarter
• Liontown Board rejects unsolicited non-binding indicative proposal from Albemarle.