Investing.com-- Shares of Liontown Resources Ltd (ASX:LTR) jumped on Tuesday after the company's spodumene concentrate production more than trebled in the second quarter due to ramp-up at its Kathleen Valley Lithium Operation.
Liontown posted a 215% quarter-on-quarter increase in spodumene production, reaching 88,683 dry metric tonnes (dmt) for the quarter ended December 31.
Liontown's sales also surged, with 81,341 dmt shipped during the quarter, a 651% jump from Q1, generating A$89.8 million in revenue—a remarkable 674% growth over the prior quarter.
Shares of the company jumped more than 11% to A$0.72.
The realized price for lithium concentrate remained robust, aiding production revenues. Managing Director Tony Ottaviano emphasized the strategic progress, stating, "Our performance reinforces Liontown's trajectory to becoming a world-class lithium producer while navigating a low-price lithium environment."
The quarter also marked Liontown's milestone first shipment to long-term partner Energy Solution Ltd (KS:373220), further strengthening its position in the global EV supply chain.
Liontown reaffirmed its fiscal 2025 guidance, signaling confidence in sustaining its momentum and achieving long-term targets as it continues to develop Kathleen Valley into a tier-one global lithium operation.