Hancock Prospecting further increases Liontown shareholding

Hancock Prospecting has become Liontown Resources’ (ASX:LTR) largest shareholder and now holds 16.7% of the company.

Hancock made an initial 7.72% investment in September 2023 and then increased it to 10.7% later in the month.

This increased investment makes Hancock Liontown’s largest shareholder and Hancock welcomes the opportunity to participate in the Kathleen Valley project and have an influence on Liontown’s overall future direction.

Located on the western edge of the Norseman-Wiluna Greenstone Belt in WA, Kathleen Valley is a tier-1 battery metals asset with a mineral resource estimate of 156mt at 1.4% lithium oxide and 130ppm tantalum pentoxide.

The operations have been optimised for an initial 3mtpa, producing around 500ktpa of spodumene concentrate with a 4mtpa expansion planned in year six to deliver around 700ktpa spodumene concentrate.

First production at Kathleen Valley is targeted for mid-2024.

While Hancock doesn’t currently intend to put forward any director nominations at Liontown’s upcoming annual general meeting, the company remains open to nominating directors to Liontown’s board in the future — particularly if its stake continues to increase towards 19.9%.