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LTR - Liontown Resources

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Liontown Resources rejects a $2.50 a share bid from lithium heavy-hitter Albemarle but has kept expectations of a return offer alive.
 
Dona Ferentes said:
Liontown Resources rejects a $2.50 a share bid from lithium heavy-hitter Albemarle but has kept expectations of a return offer alive.
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Can't see Sir Tim letting go of LTR that easily. Though wouldn't it be good to have nominatd LTR for the Comp in this month.
 
Dona Ferentes said:
Top 20 holders have >50% of stock, and barely an insto among them.
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There's about 15% held by Tim Goyder and what are termed 'rusted-on' associates with another 25% plus.

This small group of insiders includes drilling entrepreneur Graham Cluck, executives such as Liontown’s former technical director David Richard (who now sits on the board) and current CEO Antonino Ottaviano.

There’s also the non-executive directors like Anthony Cipriano and Craig Williams with decent amounts of shares on their hands.

So, with Albemarle now at 2.2%, no wonder the price shot up. Short covering would have been frenetic, too.

Will $3 prise the shares out of the strong hands?
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Good morning

Published today (29/03/23):

** personally believe $2.50 is low lying fruit...

Analysts at Bell Potter have backed Liontown’s decision to rebuff a $5.5bn buyout proposal from Albemarle Corporation.

“We agree. The Board’s rejection stems principally on value and the opportunistic timing of Albemarle’s approach,” Bell Potter said in a research note of the $2.50 per share offer that was rebuffed.

Liontown’s board and management own about 19 per cent of the company.

Bell Potter values the company at $2.81, based on what they say is a conservative lithium price outlook of US$1,300 a tonne.

“ Acquiring Liontown would deliver Albemarle or any acquirer a large, long-life bolt-on project with production ramping up from mid-2024; complementing its existing Australian mining operations.”

Albemarle owns 49 per cent of Greenbushes and 60 per cent of Wodgina and the downstream lithium business Kemerton Lithium Refinery, of which it owns 85 per cent.

Bell Potter says the corporate interest in Liontown from a high-profile US-based industry participant speaks to the quality of Kathleen Valley and the scarcity of growth opportunities in the sector.

“We view the value of Albemarle’s proposal as reasonable, but not full, with additional value to be argued from Liontown’s de-risking of Kathleen Valley, downstream projects and complementary ESG strategy and location.

“We also believe Liontown will ultimately be capable of realising this value in the absence of a corporate tie-up.”

EDIT: Not holding
 
rcw1 said:
Good morning

Published today (29/03/23):

** personally believe $2.50 is low lying fruit...

Analysts at Bell Potter have backed Liontown’s decision to rebuff a $5.5bn buyout proposal from Albemarle Corporation.

“We agree. The Board’s rejection stems principally on value and the opportunistic timing of Albemarle’s approach,” Bell Potter said in a research note of the $2.50 per share offer that was rebuffed.

Liontown’s board and management own about 19 per cent of the company.

Bell Potter values the company at $2.81, based on what they say is a conservative lithium price outlook of US$1,300 a tonne.

“ Acquiring Liontown would deliver Albemarle or any acquirer a large, long-life bolt-on project with production ramping up from mid-2024; complementing its existing Australian mining operations.”

Albemarle owns 49 per cent of Greenbushes and 60 per cent of Wodgina and the downstream lithium business Kemerton Lithium Refinery, of which it owns 85 per cent.

Bell Potter says the corporate interest in Liontown from a high-profile US-based industry participant speaks to the quality of Kathleen Valley and the scarcity of growth opportunities in the sector.

“We view the value of Albemarle’s proposal as reasonable, but not full, with additional value to be argued from Liontown’s de-risking of Kathleen Valley, downstream projects and complementary ESG strategy and location.

“We also believe Liontown will ultimately be capable of realising this value in the absence of a corporate tie-up.”

EDIT: Not holding
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Not Holding too. $2.20 to $2.50 looks resonable. Not a recommendation, just voicing out. My pot is empty.
 
rcw1 said:
Good morning

Published today (29/03/23):

** personally believe $2.50 is low lying fruit...

Analysts at Bell Potter have backed Liontown’s decision to rebuff a $5.5bn buyout proposal from Albemarle Corporation.

“We agree. The Board’s rejection stems principally on value and the opportunistic timing of Albemarle’s approach,” Bell Potter said in a research note of the $2.50 per share offer that was rebuffed.

Liontown’s board and management own about 19 per cent of the company.

Bell Potter values the company at $2.81, based on what they say is a conservative lithium price outlook of US$1,300 a tonne.

“ Acquiring Liontown would deliver Albemarle or any acquirer a large, long-life bolt-on project with production ramping up from mid-2024; complementing its existing Australian mining operations.”

Albemarle owns 49 per cent of Greenbushes and 60 per cent of Wodgina and the downstream lithium business Kemerton Lithium Refinery, of which it owns 85 per cent.

Bell Potter says the corporate interest in Liontown from a high-profile US-based industry participant speaks to the quality of Kathleen Valley and the scarcity of growth opportunities in the sector.

“We view the value of Albemarle’s proposal as reasonable, but not full, with additional value to be argued from Liontown’s de-risking of Kathleen Valley, downstream projects and complementary ESG strategy and location.

“We also believe Liontown will ultimately be capable of realising this value in the absence of a corporate tie-up.”

EDIT: Not holding
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Good afternoon
Published today (30/03/23).

Bell Potter values Liontown Resources at $3.35 per share following the lithium player rejecting a $2.50 a share ($5.5bn) conditional and non-binding indicative cash takeover proposal from Albemarle Corporation.
The broker said that the corporate interest in Liontown from a high-profile US-based industry participant spoke to the quality of Kathleen Valley and the scarcity of growth opportunities in the sector.
"We view the value of ALB’s proposal as reasonable, but not full; with additional value to be argued from LTR’s de-risking of Kathleen Valley, downstream projects and complementary ESG strategy and location," Bell Potter said.
"We also believe Liontown will ultimately be capable of realising this value in the absence of a corporate tie-up."


Have a very nice day, today.

Not holding.

Kind regards
rcw1
 
B careful with LTR - Basic TA puts LTR's Value at abt $1.20 MAXIMUM - Financials suggest LOWER than $1.20 - So figures like those being quoted are probably just a lot of Hot Air - Words like, We Anticipate, We Believe, We Consider, We Calculate, Reasonable Proposals, etc. etc. are all just Hot Air....
Are Bell Potter related to LTR, Huh.....
20230330 LTR Cht 1435hrs.jpg

20230330 LTR Cht (2) 1435hrs.jpg
 
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LTR Liontown Resourses is my pick for the May Competition. It shows promose and then slips away a bit. But with sir Tim at the helm I feel it is due for a positive SP rise soon. Hoping that will be this month. I was thinking that it might close a bit lower on Friday to give me that little bit of an edge, but it could also zoon up to $3.
I am a consistent trader of LTR so do have faith in it.
 
farmerge said:
LTR Liontown Resourses is my pick for the May Competition. It shows promose and then slips away a bit. But with sir Tim at the helm I feel it is due for a positive SP rise soon. Hoping that will be this month. I was thinking that it might close a bit lower on Friday to give me that little bit of an edge, but it could also zoon up to $3.
I am a consistent trader of LTR so do have faith in it.
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Good evening Rabbito. Are you in the May Comp??
 
hot off the press

Liontown Resources is understood to have fielded a fresh takeover proposal in recent weeks, as a rival bidder looks to go up against NYSE-listed Albemarle’s $2.50 per share offer in late March
 
Liontown Resources has dismissed market speculation about receiving any new takeover proposals since it rejected global giant Albemarle's $US3.7bn ($5.5bn) bid on March 28.

The group's shares are up more than 2 per cent to $2.76 just before noon after they were paused earlier today over reports of a potential rival bid that would have trumped three-time rejected suitor Albemarle.

The Perth target remains attractive given the growing interest in battery material makers worldwide. Albemarle's recent $2.50 a share proposal followed earlier rejections of a $2.35 a share bid on March 3 and $2.30 a share offer on October 20.

The Australian Financial Review had earlier reported a potential $2.75 per share offer being worked up by another party interested in Liontown.
 
rcw1 said:
Liontown Resources has dismissed market speculation about receiving any new takeover proposals since it rejected global giant Albemarle's $US3.7bn ($5.5bn) bid on March 28.

The group's shares are up more than 2 per cent to $2.76 just before noon after they were paused earlier today over reports of a potential rival bid that would have trumped three-time rejected suitor Albemarle.

The Perth target remains attractive given the growing interest in battery material makers worldwide. Albemarle's recent $2.50 a share proposal followed earlier rejections of a $2.35 a share bid on March 3 and $2.30 a share offer on October 20.

The Australian Financial Review had earlier reported a potential $2.75 per share offer being worked up by another party interested in Liontown.
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rcw if $3 plus was offered I would exit my holding with a tidy profit. Bought some more today, an an expectation that the SP might climb a bit higher.
 
Good morning champions,
Been reported today (03/05/23), Mineral Resources boss Chris Ellison has ruled out a potential move to vie for lithium miner Liontown Resources or a spin off of its own lithium operation. He said he was yet to have a discussion with management of Essential Metals about his intentions for the company after amassing a major stake in the business.

Speaking to DataRoom after his presentation at the Macquarie Australia Conference, Mr Ellison said Essential Metals was highly strategic for its business.

“We are yet to have a discussion with management," he said.

“We don’t want to be aggressive."

ha ha ha ha ha ha ha ha ha

Kind regards
rcw1
 
Dona Ferentes said:
Liontown Resources is understood to have fielded a fresh takeover proposal in recent weeks, as a rival bidder looks to go up against NYSE-listed Albemarle’s $2.50 per share offer in late March
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and Albemarle playing cagey.... if a second bid did arise, they could move on?

Albemarle is yet to reveal its next move in regard to the offer rejected by the Liontown board, but indicated other targets are on the radar after handing down first quarter results.

Chief financial officer Scott Tozier said Albemarle was weighing up a broad range of potential acquisitions to expand capacity to meet demand for battery materials. “Our primary targets are in three areas, lithium resources, extraction and processing technology, and battery recycling,” he said.

“We intend to maintain our track record of a disciplined M&A approach that improves returns, preserves our financial flexibility with our investment grade credit rating.”

Mr Tozier said the Liontown bid was consistent with Albemarle’s long-term growth strategy and disciplined approach to capital allocation.

“To-date, the Liontown board is not meaningfully engaged in progressing the transaction. We will provide updates if and when we have more information,” he told investors and analysts overnight.
 
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