0143 GMT - Liontown Resources shares rise 8.8% to a two-month high of A$1.43 after the miner agreed to a A$550 million debt facility to fund its Kathleen Valley lithium project in Australia. Investment bank Wilsons upgrades the stock to overweight from market weight, saying Liontown has sufficient funds to move the project to positive cash flow in early 2025. "Now that funding has been finalized, another major de-risking hurdle has been cleared on that way to commissioning," analyst Sam Catalano says in a note. With all major mining and construction contracts in place, the risk of a major cost overrun is also swiftly decreasing, Wilsons adds. Its price target on the stock more than doubles to A$1.85 from A$0.85. ([email protected]; @dwinningWSJ)
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