Great article published on today's Mining News.Net covering...

Great article published on today's Mining News.Net covering yesterday's AGM - for those who missed it, see below:

'Liontown Targets 2019 FID' by Hadyn Black: https://www.miningnews.net/leadership/news/1351944/liontown-targets-2019-fid

Speaking at the annual general meeting in Perth yesterday,Goyder said the maiden resource at Kathleen Valley gave the company some of theonly unallocated lithium reserves in Australia and, given the high-grade, tierone jurisdiction and copious infrastructure, placed it ahead of many othercompeting projects globally.

"We're advancing this as quickly as possible," he said.

The company is about six weeks out from releasing its scoping study, which willfeed into a fast-tracked definitive feasibility study.

Managing director David Richards said that based on all the data to date,including some highly promising metallurgical testwork, Kathleen Valley looksset to be Western Australia's next lithium mine.

The scoping study will be based around a resource that is "robust"where the cut-off grade can be increased from 0.5% to 1% with little loss ofthe resource.

Drilling to date means 75% of the resource is measured and indicated, meaningthe company should be able to include figures and projections that will allowthe market to really judge Kathleen Valley. Many other projects have beenhamstrung by new ASX rules that now forbid projections.

It comes after Mineral Resources just sold half of its 236.9 million tonne at1.19% lithium oxide Wodgina mine for US$1.15 billion to Abemarle, which shouldhelp provide a valuation for the project.

While bemoaning a "frustrating" lithium space and a volatile marketfor juniors, Richards said terms of grade and size, Kathleen Valley stood outamong producing lithium mines, including Bald Hill and Mt Cattlin.

The company can also see some immediate options for growth in the area aroundthe mine, and it is targeting growing the resource of 21Mt grading 1.4% Li2Oand 170 parts per million Ta2O5 to 30Mt.

Its immediate focus is completing the economic studies and finding an offtakepartner now that its work has produced a saleable concentrate with low impurities.

Liontown also claims to have made the Buldania discovery near Norseman, whereit is building a significant groundholding over some 650sq.km

While most other lithium discoveries in WA have previously been reported,Goyder said Liontown was claiming Buldania as its own.

"It's bloody good," he said of the unexplored 20km of prospectivestratigraphy that has been mapped so far, and the company sees considerablepotential for building a significant project just 200km from the Port ofEsperance, in yet another well-supported mining region.

The deposit is similar to Mt Marion and Bald Hill, but more complicated thanKathleen Valley.

Some 1.3km of strike has been defined to date and, encouragingly, thesouth-easternmost hole was a high grade hit.

Richards said the areas were surprisingly undrilled, even for gold, and whatlittle work there is indicates of better targets away from the advanced Annadiscovery where drilling has intersected significant widths and grades oflithium mineralisation including zones of up to 58m at 1.2% Li2O.

A maiden resource is due in the new year.

Liontown's third project is its 1000sq.km of leases where it is puttingtogether a vanadium project based on the Toolebuc Shale with a maiden resourceof 84 million tonnes at 0.3% V2O5.

"It's an excellent strategic fit," Goyder said, particularly giventhe vanadium price has surged fourfold in 12 months.

Richards said the Toolebuc project had the potential to be a high profit, lowcost development.

A lot of work has been done previously, and Intermin Resources, which has a670Mt at 0.35% V2O5 resource in the adjacent area, is about to conductextensional drilling that should come up to the tenement boundary and generatea lot of knowledge about the area.

For Liontown, the work has been a little slower than expected, and will focuson metallurgical testing over the next 12 months.

Goyder said Liontown had three promising projects in two booming commodities,and in the battle for market share and attention, he believed the junior'sprojects were "the cream that will float to the top".

Liontown shares were up 8.7% at yesterday's close at 2.5c, valuing the companyat $28.3 million.