Liontown

Albemarle Corp., the world's top lithium producer, has had its A$5.5 billion ($3.7 billion) cash offer for Liontown Resources Ltd rejected by the Australian ...

Liontown Resources, an emerging battery minerals producer based in Australia, has rejected an unsolicited, conditional and non-binding indicative proposal ...

The Kathleen Valley project is one of the world's largest and highest-grade hard rock lithium deposits, according to the company. In addition, the Board observed that the Indicative Proposal does not reflect: Based on the most recent share registry information available, RT Lithium now holds ~2.2% of Liontown’s issued shares. Liontown continues to progress a number of funding options for the remaining capital at the Kathleen Valley Lithium Project and expects to update the market on this front in the near term. In coming to its decision, the Liontown Board noted the opportunistic timing of Albemarle’s proposal, coinciding with recent softness in companies exposed to the lithium sector and the pre-production status of the Kathleen Valley Project. Liontown controls two major lithium deposits in Western Australia: the flagship Kathleen Valley project in Western Australia and the Buldania Project in the Eastern Goldfields Province of Western Australia.

Liontown Resources has knocked back a $5.5 billion takeover offer from Albemarle as the US lithium giant seeks to grow its already sizeable footprint of the ...

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A handful of individuals close to Liontown Resources chairman Tim Goyder could be instrumental in deciding where the $5 billion lithium explorer's future ...

[Sign up to the Street Talk First Look newsletter.](https://login.myfairfax.com.au/beta/members/my_account/newsletters?callback_uri=https://www.afr.com&channel_key=9ME3ACTT4ZYY1fEMfvR2EA) [Anthony Macdonald](/by/anthony-macdonald-j7gcx)co-edits Street Talk, specialising in private equity, investment banking, M&A and equity capital markets. Connect with Anthony on [[email protected]](mailto:[email protected]) [Sarah Thompson](/by/sarah-thompson-j7ger)has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Email Kanika at [[email protected]](mailto:[email protected]) [Emma Rapaport](/by/emma-rapaport-p53697)is the markets reporter at The Australian Financial Review Connect with Emma on [[email protected]](mailto:[email protected]) All up, a staggering 50.6 per cent of the company is in the hands of just its top 20 shareholders - barely any of which are institutional investors. By rejecting and outing Albemarle’s $2.50 a share bid – which was a whopping 63 per cent premium – this coterie’s also shown they have eyes peeled out for bigger profits. Email Sarah at [[email protected]](mailto:[email protected]) [Kanika Sood](/by/kanika-sood-p535tz)is a journalist based in Sydney who writes for the Street Talk column. [Albemarle’s RT Lithium Ltd spoke for a 2.2 per cent stake as at Liontown’s last investor search. [shorts that got squeezed hard](https://www.afr.com/markets/equity-markets/citi-says-lithium-prices-to-rebound-liontown-bid-forces-short-squeeze-20230327-p5cvqg) when the share price ran up 68.45 per cent on Tuesday, and all the fund managers who didn’t have a long position and missed out on the rally. [Goyder himself with about 15 per cent of the company in his hand and a billionaire.](https://www.afr.com/markets/commodities/meet-tim-goyder-mining-lifer-and-new-billionaire-20230328-p5cw15) That’s the rich/millionaire/billionaire end of Liontown bid. Street Talk understands anywhere between 30 per cent to 40 per cent of Liontown’s shares on issue are in the hands of Goyder and people known to him, now dubbed the Liontown Millionaires. The Liontown lot also stands to make the most of out of any eventual M&A for Liontown, thanks to their large parcels of shares.

The mining company submitted a proposal to acquire start-up Australian miner Liontown, which turned it down. Two earlier bids were rejected as well.

The growth is causing some M&A action in the [lithium industry](https://www.barrons.com/articles/tesla-elon-musk-lithium-6b5304f4?mod=article_inline) and lifting shares of small-capitalization, early-stage lithium miners. ](https://www.barrons.com/market-data/stocks/ltr?countrycode=au) ](https://www.barrons.com/market-data/stocks/alb)

The mining company submitted a proposal to acquire start-up Australian miner Liontown, which turned it down. Two earlier bids were rejected as well.

The growth is causing some M&A action in the [lithium industry](https://www.barrons.com/articles/tesla-elon-musk-lithium-6b5304f4?mod=article_inline) and lifting shares of small-capitalization, early-stage lithium miners. ](https://www.barrons.com/market-data/stocks/ltr?countrycode=au) ](https://www.barrons.com/market-data/stocks/alb)

The bid shows the disparity between what investors (less knowledgeable) and market participants (more knowledgeable) believe a lithium company is worth.

too small.They need this feed for Kemerton hydroxide. Same goes for Liontown (ASX:LTR). Since reaching a peak November last year lithium prices have fallen back significantly. Something tells me Abermarle will be back with a bigger offer for $LTR.Logically, theres no other resource other than KV able to fill the void ofGreenbushes. This bid shows the disparity between what equity investors (less knowledgeable) and market participants (more knowledgeable) – carmakers, OEMs, chemical companies, other lithium companies – believe a company is worth. Bid shows disparity between what equity investors (less knowledgeable) and market participants (more knowledgeable) believe a company is worth

On Monday, lithium company Albemarle submitted a non-bonding proposal to acquire all outstanding shares of Liontown Resources – a battery metals exploration ...

The company forecasts the Kathleen Valley project to become Australia’s biggest lithium mine. Yet Albemarle has not sat still. Abemarle is a stakeholder in important lithium assets across WA, including spodumene resources and lithium conversion facilities at Greenbushes, Wodgina and Kemerton. After review, the board unanimously [Australian Financial Review](https://www.afr.com/companies/mining/albemarle-swipes-liontown-for-spurning-its-5-5b-offer-20230328-p5cvv6) (AFR), in 2019 Liontown predicted the Kathleen Valley project would cost $240.5 million to build, but in 2023 that figure now stands at $895 million, with a $40 million buffer. Liontown also noted that the project is also underpinned by a forecast growth in global lithium demand, with a predicted supply deficit that is expected to deliver stronger lithium prices for longer.

Liontown Resources Ltd (ASX:LTR) shares could still be undervalued according to analysts at Bell Potter. Here's why...

We also believe LTR will ultimately be capable of realising this value in the absence of a corporate tie-up. Though, it highlights that as an asset development company, its “speculative risk rating recognises this higher level of risk.” The corporate interest in LTR from a high-profile US-based industry participant speaks to the quality of Kathleen Valley and the scarcity of growth opportunities in the sector. The broker commented: And with management holding a sizeable number of Liontown shares, it doesn’t appear to believe that Albemarle will be able to bully its way into acquiring the lithium developer. According to a note this morning, the broker has retained its speculative buy rating with an improved price target of $3.35.