We like Liontown Resources (LTR) at the smaller end of town in the Lithium space, although it’s certainly a higher risk proposition. The ramp-up of its Kathleen Valley asset is progressing well, leaving the company highly leveraged to a tightening lithium market and improving spodumene prices. We are intentionally starting with a smaller 3% weighting, leaving room to increase the holding in time.
MM is buying LTR in the Emerging Companies Portfolio, allocating 3% around $1.15
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