Takeover target Liontown Resources, which jumped 9 per cent to $3.02 on Thursday accompanied by a large spike in trading volume. The identity of the buyer was not known, fingers pointed to billionaire Gina Rinehart, who already owns a 4.9 per cent stake in the lithium miner. The share activity came just days after US lithium heavyweight Albemarle lobbed a non-binding $3 a share bid which values Liontown at $6.6 billion. A fight for ownership can only be good news for LTR shareholders.
- The game appears to be afoot with LTR, we can see new highs in the weeks/months ahead.
MM is bullish on LTR
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