Big line of Liontown trades at $3 a share; fingers point to Rinehart
Stockbroker Euroz Hartleys traded a line of 35.2 million shares in Liontown Resources after market close on Wednesday evening at $3 a share, with fingers pointing to Gina Rinehart as the buyer.
Gina Rinehart wants a say at Liontown.
The trade was worth $105.5 million and represented less than 2 per cent of the company. The choice of the broker and price paid – $3 is the same as Albemarle’s non-binding bid – suggested Rinehart was the buyer.
Hancock would own about 13 per cent of Liontown Resources after Wednesday’s shopping.
It has been buying more of the stock at $3 since September 11, including forking out more than $132 million for about 44 million shares on Monday. Hancock has said it wants a big say in the future of Liontown, while spelling out concerns about Liontown’s flagship Kathleen Valley project in the northern goldfields of Western Australia.
Albemarle was granted four-week due diligence on September 11.
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