Big returns! Broker tips Liontown shares to double in value
Liontown Resources Ltd shares were on fire on Tuesday and rocketed higher. The lithium miner's shares ended the day approximately 12% higher at 70.5 cents. Why did Liontown shares rocket?Investors were buying the company's shares following the release of the lithium miner's second quarter update. For the three months ended 31 December, Liontown reported a 215% quarter on quarter increase in spodumene concentrate production to 88,683 dry metric tonnes . This supported a massive 651% increase in spodumene concentrate shipments to 81,341 dmt and an equally impressive 674% jump in total revenue to $89.8 million. Liontown also revealed that it achieved net cash from operating activities of $16.7 million for the quarter. Can its shares keep rising?