Thoughts on Liontown Resources (LTR)

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Question asked 07/10/2023

Thoughts on Liontown Resources (LTR)

Hi James and Team As a holder of LTR can I have your view on what's playing out with Gina Rinehart? Albemarle indicative proposal is $3. Since the announcement LTR has reached a high of $3.07 but has traded below the $3 most recently. With Gina Rinehart increasing her stake in LTR would you be holders and wait for this to play out or take your profits sub $3 offer? regards

Answer

Hi,

We all heard this week that Gina Rinehart bought another 50.7mn shares in LTR, at $3 a share, taking her stake from 12.36% to 14.67%. On Friday afternoon the shares were trading at $2.995, effectively the same price as Albemarle’s revised bid for the lithium miner.

We see little downside from current levels with two buyers clearly still keen on the stock around $3 hence if MM were long we’d be inclined to hold the position in hope of a higher bid.

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Liontown Resources Ltd (LTR)

LAST UPDATED 06/10/2023 13:58

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