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Allens advises on Kathleen Valley Lithium Project
Allens has advised mineral exploration and development company Liontown Resources (Liontown) on its $463 million capital raise.
Jess Feyder
Firm: Allens (Liontown)
Value: $463 million
Area: Corporate
Key players: Bryn Hardcastle, Alex Ninkov, Nicholas Creed, Rod Aldus, Alastair Henderson, Mark McAleer, Richard Malcolmson, Emma Morris and Henry Simpson.
Deal significance: Along with a significant capital raise, they secured foundation offtake agreements with LG Energy Solution, Tesla and Ford.
Liontown’s total offtake commitments mean approximately 90 per cent of Kathleen Valley’s production capacity is now covered by long-term agreements with high-quality customers.
After the third offtake agreement and funding facility were finalised with Ford, the Liontown board made the final investment decision to proceed to develop the project.
Allens partner Bryn Hardcastle commented: “This is a significant milestone for Liontown and we are very pleased to have been able to help the company reach this point in the development of the Kathleen Valley Lithium Project.
“We look forward to working with the Liontown team on the next phase of development of the project and on its emergence as a tier-1 battery minerals producer.”
Liontown managing director and chief executive Tony Ottaviano commented: “A transaction of this type is never the work of one individual or party. It’s a collective effort and having high quality advisers providing the very best of advice is the key. We got that with team Allens.”
