Jan 17 (Reuters) - A unit of Albemarle Corp ALB.N sold 4% stake in Australia's Liontown Resources (LTR) for about A$121 million ($79.3 million) in a block trade, a term sheet showed on Wednesday.
So this is the news that was going to excite LTR today?
And ALB sold this 4% stake at $1.25, not exactly a vote of confidence on the existing valuation of LTR. And puts paid to those who argued that LTR has to be worth north of $3 as ALB made a bid before at $3. Well, if ALB believes so, (1) they would not have pulled out of the TO after DD (and Gina) and (2) they see more upside in utilising the A$121million somewhere else than staying invested in what most would deem due for an appreciation post-production.
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Last
95.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $2.315B | |||
| Open | High | Low | Value | Volume |
| 97.5¢ | 98.5¢ | 95.5¢ | $9.543M | 9.834M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 16 | 203220 | 95.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 96.0¢ | 31713 | 3 |
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| Last trade - 16.10pm 17/07/2024 (20 minute delay) ? |
| LTR (ASX) Chart |