Hammer Metals Agrees to AU$55 Million Acquisition by Larvotto Resources
Hammer Metals Limited (ASX: HMX) has entered into a binding agreement under which Larvotto Resources will acquire all issued Hammer shares through a Scheme of Arrangement. The transaction values Hammer at approximately AU$55 million, with shareholders receiving Larvotto shares and an interest in a newly demerged company holding Hammer’s Western Australian gold assets. The combined consideration implies a value of around AU$0.067 per Hammer share, representing significant premiums to recent trading levels.
The proposed deal provides Hammer shareholders with exposure to Larvotto’s near-term gold and antimony production ambitions, while retaining ownership of the Yandal gold assets through a separate spin-off entity. Larvotto also plans to raise about AU$15 million through a strategic investment from Glencore to support development of the enlarged Mt Isa copper and critical minerals portfolio. In addition, Larvotto has provided Hammer with an unsecured loan facility of up to AU$4 million to support operations during the transaction period. The Hammer Board has unanimously recommended the proposal, subject to customary conditions and an independent expert’s assessment.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au
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Hammer Metals Agrees to AU$55 Million Acquisition by Larvotto Resources
Hammer Metals Limited (ASX: HMX) has entered into a binding agreement under which Larvotto Resources will acquire all issued Hammer shares through a Scheme of Arrangement. The transaction values Hammer at approximately AU$55 million, with shareholders receiving Larvotto shares and an interest in a newly demerged company holding Hammer’s Western Australian gold assets. The combined consideration implies a value of around AU$0.067 per Hammer share, representing significant premiums to recent trading levels.
The proposed deal provides Hammer shareholders with exposure to Larvotto’s near-term gold and antimony production ambitions, while retaining ownership of the Yandal gold assets through a separate spin-off entity. Larvotto also plans to raise about AU$15 million through a strategic investment from Glencore to support development of the enlarged Mt Isa copper and critical minerals portfolio. In addition, Larvotto has provided Hammer with an unsecured loan facility of up to AU$4 million to support operations during the transaction period. The Hammer Board has unanimously recommended the proposal, subject to customary conditions and an independent expert’s assessment.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au