Liontown Resources’s $490 Million Equity Raising

Allens has advised Liontown Resources on its $490 million equity raising to fund the development of the Kathleen Valley Lithium Project.

The raising comprises a fully underwritten $450 million institutional placement and non-underwritten $40 million share purchase plan.

The money will also be used to progress the downstream pre-feasibility study for the proposed lithium hydroxide plant as well as further exploration drilling. 

The raising puts the company in a strong position to finalise discussions with offtake partners and commercial lenders, order long-lead items, and accelerate towards first production in 2024 when significant global supply deficits for lithium are forecast to emerge.

Liontown Resources is a mineral exploration and development company focused on the development of high quality lithium & tantalum projects in Australia, as well as an emerging gold, PGE, nickel and copper project in Western Australia.

The Allens’ team was led by Bryn Hardcastle (Partner), and included Alexandra Meade (Senior Associate), Nick Harrison (Associate), Cassandra Lee (Lawyer).

Involved fees earner: Bryn Hardcastle – Allens; Nick Harrison – Allens; Cassandra Lee – Allens; Alexandra Meade – Allens;

Law Firms: Allens;

Clients: Liontown Resources;

Sonia Carcano

Author: Sonia Carcano