The AFR tend to be in the know. See below what they are reporting. Take a look at the last paragraph (underlined).
Clearly, risk is to the downside!!
Liontown halts shares
Joshua Peach
Share post
Lithium developer Liontown Resources has halted shares ahead of trading this morning.
The company requested the halt pending an announcement “in connection with funding arrangements”. Shares are expected to begin trading again on Thursday, July 4.
Shares in the WA lithium developer have been the worst performing on the S&P/ASX 200 in the last 12 months, weighed down by a scuppered buyout deal from mining giant Albemarle, a rapid decline in the price of lithium and funding issues surrounding its Kathleen Valley lithium project.
Given the 70 per cent decline in shares, it would be an expensive time to raise equity. The funding is expected to be debt, although it is hard to see the developer’s banking syndicate tipping in more money after last year’s kerfuffle.
LTR Price at posting:
89.0¢ Sentiment: None Disclosure: Not Held
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