Opinions differ of course but I’ve a feeling Albemarle has had a lucky escape here in losing Liontown:
Liontown Resources (ASX: LTR) shares are down 32%. LTR shares are down on the withdrawal of Albemarle’s (NYSE: ALB) bid for the company. Plus the large rights issue that has now been launched to bring the Liontown project to production. That rights issue was successful, even if at a deep discount. But our opinion – entirely different from that of the rest of the market, we agree – is that this is a lucky escape for Albemarle. Because buying lithium assets at the top of the lithium market simply isn’t a good idea.
Nothing quite as fun as being contrarian, eh?