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GR ENGINEERING SERVICES LIMITED — Capital/Financing Update 2024
May 9, 2024
65003_rns_2024-05-09_cae50982-f8cd-4bfd-aae1-8da4f8fbec01.pdf
Capital/Financing Update
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ASX Announcement ASX: LTR
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10 May 2024
Liontown executes Paste Plant EPC contract
Liontown Resources Limited (ASX: LTR ) (" Liontown " or the " Company ") advises that it has executed an Engineering, Procurement and Construction ( EPC ) contract with GR Engineering Services Limited ( GRES ) for the delivery and commissioning of the paste plant facility ( Paste Plant ) to support the underground mining operations at Kathleen Valley.
The Paste Plant will include two trains capable of producing up to 160m[3] of paste per hour and has been designed to accommodate future expansion of mining operations to 4Mtpa. Delivery of cemented paste fill is an integral part of the underground mining cycle at Kathleen Valley, maximising recovery of the underground orebody and planned production rates, as well as reducing the size of the surface tailings dam that would otherwise be required. The Paste Plant has also been designed to facilitate dry stacking and water recovery, further increasing the amount of recycled water the site utilises.
The EPC is a standalone project, with the second train brought forward to provide latent capacity to derisk underground mining operations, enable water recovery and to capture cost economies associated with constructing the two trains together. Valued at approximately $71 million, the EPC forms part of planned and budgeted next stage of growth capital costs post first production and funding is contemplated under the recently announced A$550m financing facility. GRES have progressed the design, procurement and initial site works under an early works agreement to ensure timely delivery of the Paste Plant.
Commenting on the EPC award, Liontown Managing Director and CEO, Tony Ottaviano, said:
“We are pleased to award the contract for the design and construction of the Paste Plant which will support and further de-risk the planned underground production rates at Kathleen Valley. GRES has designed and constructed multiple paste plant facilities throughout Western Australia and the GRES team has mobilised and commenced initial works at Kathleen Valley.”
This announcement has been approved for release by the Managing Director, Tony Ottaviano .
Further Information
| Further Information | |
|---|---|
| Investors | Media |
| Leanne Kite | Luke Forrestal |
| Investor Relations Manager, Liontown | GRA Partners |
| T: +61 401 438 850 | T: +61 411 479 144 |
| E: [email protected] | E: [email protected] |
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ASX: LTR www.ltresources.com.au
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About Liontown Resources
Liontown Resources (ASX:LTR) is an emerging Tier-1 battery minerals producer. Our aim is to be an ESG leader and a globally significant provider of battery minerals for the rapidly growing clean energy market. As we transition from explorer to producer, we are committed to incorporating the right approach and foundation from the outset and ESG principles underpin all decisions. We currently control two major lithium deposits in Western Australia and aim to expand our portfolio through exploration, partnerships and acquisitions. In addition, we look to participate in downstream value-adding where control of the deposit provides a strong competitive advantage. To learn more, please visit: www.ltresources.com.au
Forward Looking Statement
This announcement contains forward-looking statements which involve several risks and uncertainties. These forwardlooking statements are expressed in good faith and believed to have a reasonable basis. These statements reflect current expectations, intentions or strategies regarding the future and assumptions based on currently available information. Should one or more of the risks or uncertainties materialise, or should underlying assumptions prove incorrect, actual results may vary from the expectations, intentions and strategies described in this announcement. No obligation is assumed to update forward looking statements if these beliefs, opinions and estimates should change or to reflect other future developments.
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