Rinehart continues Liontown raid

Hancock Prospecting's latest on-market purchase of Liontown Resources shares could take Gina Rinehart even closer to the top end of the lithium developer's register. 

A notice was filed with the ASX on Tuesday afternoon disclosing Mrs Rinehart's private company had secured a further 50.6 million Liontown Resources shares. 

The shares were bought on Monday and Tuesday across two trades at $2.95 and $3 apiece, according to the latest disclosure. 

The purchases - worth about $150 million - grants Hancock a 14.67 per cent stake in Liontown and follows a spate of similar transactions from the group over the past two weeks. 

Prior to today's update, Hancock had a 12.36 per cent stake in Liontown. 

Mrs Rinehart's increased foothold is believed to be a fraction behind the company's biggest shareholder and chairman Tim Goyder, who is understood to hold approximately 14.97 per cent of the company. 

The transaction also puts Hancock a step closer towards securing a blocking stake in Liontown's proposed transaction with Albemarle.

Sources have suggested this would be about 15 per cent. 

A $6.6 billion takeover proposal is on the table from US lithium giant Albemarle, with the company currently undertaking its due dilligence. 

Hancock first disclosed its interest in Liontown in early September, after first buying shares in April, and has continued to incrementally increase its stake since. 

Liontown shares were down 0.34 per cent at market close on Tuesday to trade at $2.95.