Mentioned:
United States Antimony Corporation wants to take control of a publicly traded Australian mining company. But, why?
What’s happening:
- United States Antimony Corporation (NYSE: UAMY) has made a non-binding offer to acquire Larvotto Resources (ASX: LRV) in an all stock deal
By the numbers:
- United States Antimony Corporation has proposed purchasing Larvotto Resources for roughly $470M USD in common shares
- United States Antimony Corporation has already purchased a 10% stake in Larvotto Resources on the open market prior to making their acquisition offer
Why it matters:
- Larvotto Resources owns the Hillgrove Project which is the single largest antimony deposit in all of Australia
Going deeper:
- This is the first time ever that United States Antimony Corporation has ever made an acquisition offer to a publicly traded company and comes just after they notably landed a $245M USD contract from the United States Defense Logistics Agency for antimony supply
The fine print:
- Larvotto Resources has not yet publicly responded to United States Antimony Corporation’s acquisition offer
