Australia's Liontown Resources rises after securing interest-free funding

Liontown

07/05/2025 06:17

** Shares of Liontown Resources LTR.AX rise as much as 8.7% to A$0.56, their biggest intraday jump since April 23

** Stock touches its highest level since April 30

** LTR among top performers on the ASX 200 benchmark

** Battery minerals producer secures A$15 mln ($9.72 mln) interest-free loan (under conditions) from the Western Australia government

** The state support comes at a time when there is a rout in global lithium prices

** Liontown Resources previously warned that new projects will more difficult to induce at current low prices

** About 17.8 mln shares change hands, vs the 30-day average of 12.7 mln

** Stock up 5.7% YTD

($1 = 1.5434 Australian dollars)

(Reporting by Sneha Kumar in Bengaluru)

((Sneha.kumar@thomsonreuters.com;))