Liontown Resources Ltd (ASX: LTR) shares have risen by 29.61% over the past month to trade at $1.32 apiece on Tuesday afternoon. The ASX lithium share is currently up 4.92% for the day so far.
There has been no official news from the junior lithium explorer over the month to explain the 30% surge.
However, battered lithium commodity prices have rebounded a bit over the period. So, this could be a factor pushing Liontown shares higher. The lithium carbonate price is up 11.28% over the past month.
As the chart below shows, Liontown shares have been through the wringer over the past nine months.
They hit an all-time high of $3.20 in June 2023, then fell through the floor after United States lithium giant Albemarle Corp (NYSE: ALB) withdrew its $3 per share takeover bid in mid-October 2023.
The ASX lithium stock is down 58.75% since that record high.
What’s next for Liontown shares?
On Friday, Liontown will release its 1H FY24 results.
As my colleague Mitch points out in our results preview article, investors will be looking for an update on construction progress and funding at the flagship Kathleen Valley lithium project.
Production is scheduled to commence in the middle of this year.
Back in December, Liontown chair Tim Goyder told investors that Kathleen Valley has an expected ten-year average C1 cash production cost of roughly US$475 per tonne. This may be updated on Friday.
The price of spodumene concentrate today is US$1,025 per tonne.
Over the past fortnight, it has risen by 13.9% from US$900 per tonne.
The post Liontown shares rocket 30% in a month ahead of Friday’s results appeared first on The Motley Fool Australia.
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More reading
- Here are the top 10 ASX 200 shares today
- Is the Liontown share price ready for next week’s numbers?
- Why Coles, Liontown, Lovisa, and Wildcat shares are dropping today
- Why are ASX lithium shares like Pilbara Minerals crashing on Tuesday?
- Why the 2024 outlook for these rebounding ASX 200 lithium shares looks ‘better than market expectations’
Motley Fool contributor Bronwyn Allen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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