Stockheed article reporting on D&D and good naturedly poking a bit of fun at TO. Warning - can't be unseen once read!
Cosmo Kramer’s Kalgoorlie adventure
Liontown Resources (ASX:LTR) boss Tony Ottaviano has a style best described as bombastic.
Tony is no doubt a serious man who has created incredible value in his time as managing director at LTR, a one-time microcap that rejected a $5.5 billion bid from America’s Albemarle for its Kathleen Valley mine in March.
But his towering frame, lifted hair, staccato rhythm and hyperactive hand movements do lend to some amusing comparisons with Seinfeld’s iconoclastic Kramer.
After announcing a deal to study downstream lithium processing options with Japan’s Sumitomo he delivered a spiel to journos that, while clearly of Tony’s energetic creation, could well have been scripted by Larry David.
“That’s a very good question,” he said (NB: The jury is out on whether an interview subject who compliments a question has actually been asked a good question.)
“I’ve got a history with Sumo and also the other Japanese trading houses. They’re a tremendous partner.
“I love the way they come and tackle a problem. When you say to the Japanese and Sumitomo are very much in this world, Australia’s got high capital costs.
“They say ‘Yes, Tony San. But in Australia, we don’t agree with you, we can sue you. We can rely on a very transparent and reliable judiciary. We can rely on stable government policy … Tony San.
“‘And once you sink that capital, Tony San, then it’s forgotten. It’s all around delivery and efficiency.’
“Don’t you love their long term thinking?”
Liontown’s $895 million Kathleen Valley lithium mine will be opened in mid-2024, with LTR looking into the prospect of developing a downstream hydroxide plant or mid-stream facility that can feed the EV supply chain.
So could Liontown be Turning Japanese? We really think so. Of all the lithium miners on the card, Ottaviano is the most outspoken about supplying the market outside of China, saying where product goes will be at the whim of the spodumene producer.
Others aren’t as dogmatic.
(20min delay)