Lithium player Liontown Resources (ASX: LTR), headed by Chairman Tim Goyder, is delivering life-changing gains for stockholders.
The company is hoping to supply lithium for EVs from Western Australia.
The ASX-listed lithium company has soared in value since 2021, as the lithium demand boom took off with electric car manufacturers scrambling for raw battery metals supply.
Now, the sector is toasting a new massive wealth creator, with the Perth, Western Australian-based company soaring this week – after a takeover offer from chemicals giant Albemarle of some $5.5 Billion Aussie dollars.
The company is now up over 8,500% in 5 years.
Goyder has now become Australia’s newest billionaire, at least on paper, as his stock ownership put him into the club on Monday.
In fact, many early investors in Liontown have become multi-millionaires from just small investments in recent years.
Goyder recently spoke of how even his house cleaner invested in the company, which has resulted in life-changing market gains.
“You’re only as good as your shareholders.. (and) people’s lives have been changed (investing in Liontown), Mr Goyder told a Podcast in December 2022 before the latest massive re-rate in the Liontown market cap.
“The person putting 10 grand in and then buying Liontown at 2 cents, and next minute they’re worth a million dollars.”
“My cleaners put money in and retired for a year and a half, and made a few million dollars,” Goyder said.
This week, Liontown shares soared over 50% to $2.57 at one point – as news broke on Monday trade, as New York-listed Albemarle offered $2.50 a share. On Wednesday the share price was sitting around $2.60.
Liontown’s board immediately rejected the offer on behalf of the shareholders. Reports said the bidding will continue as global demand for lithium outstrips supply in the years to come.
The company has agreements with Elon Musk’s Tesla to supply the raw minerals for their gigafactories, along with South Korea’s LG and Michigan-based Ford Motor Company.
