2327 GMT - Liontown's lithium recovery should increase moving forward as underground ore makes up a higher proportion of its feed mix, Citi analyst Jack Whelan says. Reported 3Q recovery--averaging roughly 61%--missed consensus by 9%. That was because of a higher proportion of open pit stockpile material through the plant, Whelan says. Liontown "noted average recoveries of [circa] 70% have been achieved across the first three weeks of April," he says. Liontown is, however, yet to achieve its target grade of 5.2%, with 3Q grade averaging 5.1%, Whelan adds. Citi has a "neutral" rating and A$1.65 target on Liontown. Shares ended Thursday at A$2.35. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

(END) Dow Jones Newswires

April 30, 2026 19:27 ET (23:27 GMT)

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