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Your updated thoughts on Liontown Resources (LTR) please

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Question asked 14/10/2023

Your updated thoughts on Liontown Resources (LTR) please

Hi James and Team Sorry for the repeat question on LTR - but with Albermarle requesting an extension to complete its due diligence and Gina Rinehart increasing her stake to 19.9% ( now the largest shareholder ) the markets reaction seems to be Gina will block the takeover with the LTR price falling as low as $2.80 today. What's your view of the situation currently? A week ago you wrote -"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" regards Debbie

Answer

Hi Debbie,

Basically, no change, the stocks slipped a few cents, but it’s not altered our view. Gina might block the takeover, or she could take a profit if Albemarle lift their bid, alternatively she might consider a tilt herself considering she already has $1.26bn stake in the business, it’s all conjecture at this stage.

Whatever Gina’s current objective she’s clearly a willing buyer ~$3, or 4.5% above Thursdays close.

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Liontown Resources Ltd (LTR)

LAST UPDATED 12/10/2023 16:52

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