sp doubles in 6 weeks

Okay, so this stock doesn't rate much action on HC but nevertheless it has more than doubled from .041 to .094 cents in the past 6 weeks.

It's a small gold and base metals explorer in northern Queensland with a total of more than 5000 sq km of exploration acreage around Charters Towers and the panhandle region.

Liontown recently cemented a JV with Ramelius Resources who will spend a minimum of $1.25 million in 2010/11 in exploration drilling, commencing this month, around the Mt Windsor region, a prolific gold area, specifically Mosquito Hill and Mt Redan. Furthermore Ramelius can earn up to 60% of any discovery by spending $7 million on the project.

Liontown was up 14% today,possibly due to the current drilling campaign by Ramelius.

With 210million shares on issue and a market cap of about $19 million as of today, oh and I almost forgot, $3 million in cash, any exploration success could translate into serious upside IMO.

The CEO holds 28% of the company and has been adding recently. Another thing to note is the presence on the board of Vince Gauci, ex CEO of MIM who famously opposed the takeover by Xstrata.

I've read most of the company announcements, but was wondering if anyone else knows more about this company?

I was quite excited about the share action today when I saw that 435500 shares had crossed at a sp up to .094 cents until I took out my calculator and realised that it converted to about $40000, so Liontown isn't a company you want to hold in a serious downturn because you may not be able to find a buyer to sell to. However it seems to have some promise and has fallen under the radar so far.

I hasten to add, do your own research, I'm no expert, just an amateur with curiosity.