Liontown Resources Burns Through $44 Million
Liontown Resources, a taxpayer-funded lithium miner, reported a significant expenditure of $44 million in the three months leading up to September 30, despite a recovery in lithium prices.
The company, which raised $266 million in August to navigate the lithium downturn, is focused on the exploration and development of lithium deposits, aiming to become a significant supplier of lithium to the global battery industry.
Notably, the loss-making company appeared to be approaching a break-even point, with the price of lithium trading roughly on par with its all-in sustaining costs of $1354 per tonne for the quarter.
No specific statement from the company is provided in the context.
Author's summary: Liontown Resources spent $44 million despite lithium price recovery.