Lithium miner LTR has been regularly in the news over the last few months, from a failed/blocked $6.6bn takeover bid from US giant Albemarle to the significant stake taken by Gina Rinehart, which was the reason the $3 bid failed, to the plunge in January as the miner failed to secure a debt package from the banks. We believe that excellent risk/reward value will present itself if LTR trades back towards $1 as we ponder if/when and where Gina will consider a bid for LTR, which she aggressively bought ~$3 in mid-2023.
- We see LTR trading between $1 and $2 over the next 12-months; we might consider an aggressive position into said weakness.
MM is bullish towards LTR under $1
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