Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>After <a href="https://www.smartkarma.com/entities/lynas-corp-ltd" target="_blank" data-smartkarma-citation="entities:20374:1" rel="noopener">Lynas (LYC AU)</a> tapped the market last year for $825mn, it was widely expected it had <a href="https://www.smartkarma.com/entities/viridis-mining-and-minerals-lt" target="_blank" data-smartkarma-citation="entities:40711:1" rel="noopener">Viridis Mining and Minerals (VMM AU)</a> or <a href="https://www.smartkarma.com/entities/meteoric-resources-nl" target="_blank" data-smartkarma-citation="entities:1747:1" rel="noopener">Meteoric Resources (MEI AU)</a> in mind. </li>
<li>As discussed in <a href="https://skr.ma/gF7Y8" target="_blank" rel="noopener">Meteoric Resources (MEI AU) Taps Market, As Washington Also Targets Brazil's Rare Earths</a>, Meteoric, one of a handful of Aussie-listed-plays developing Brazilian rare-earths, also tapped the market. </li>
<li>Now Lynas has made an all-scrip offer for Meteoric. Unanimous board support, plus largest shareholder. Lynas will also extend an interim loan facility. Possible implementation in March 2027. Clean deal.</li>
</ul>


After Lynas (LYC AU) tapped the market last year for $825mn, it was widely expected it had Viridis Mining and Minerals (VMM AU) or Meteoric Resources (MEI AU) in mind. 
As discussed in Meteoric Resources (MEI AU) Taps Market, As Washington Also Targets Brazil's Rare Earths, Meteoric, one of a handful of Aussie-listed-plays developing Brazilian rare-earths, also tapped the market. 
Now Lynas has made an all-scrip offer for Meteoric. Unanimous board support, plus largest shareholder. Lynas will also extend an interim loan facility. Possible implementation in March 2027. Clean deal.


Meteoric Resources (MEI AU): Lynas' Clean, And Widely Expected, Offer

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/meteoric-resources-nl" target="_blank" data-smartkarma-citation="entities:1747:1" rel="noopener">Meteoric Resources Nl (MEI AU)</a> owns Brazil's Caldeira ionic clay project. It has agreed a scheme with <a href="https://www.smartkarma.com/entities/lynas-corp-ltd" target="_blank" data-smartkarma-citation="entities:20374:1" rel="noopener">Lynas Corp Ltd (LYC AU)</a> at 0.0207 LYC shares per share, implying A$0.286.</li>
<li>The offer looks attractive. It values Meteoric at a premium to its closest listed peer, <a href="https://www.smartkarma.com/entities/viridis-mining-and-minerals-lt" target="_blank" data-smartkarma-citation="entities:40711:1" rel="noopener">Viridis Mining and Minerals Lt (VMM AU)</a>, and is above historical exchange ratios.</li>
<li>The vote looks low risk. No disinterested holder has a blocking stake, substantial shareholder Tolga Kumova supports the scheme, and the small retail base makes the headcount test low risk.</li>
</ul>



Meteoric Resources Nl (MEI AU) owns Brazil's Caldeira ionic clay project. It has agreed a scheme with Lynas Corp Ltd (LYC AU) at 0.0207 LYC shares per share, implying A$0.286.
The offer looks attractive. It values Meteoric at a premium to its closest listed peer, Viridis Mining and Minerals Lt (VMM AU), and is above historical exchange ratios.
The vote looks low risk. No disinterested holder has a blocking stake, substantial shareholder Tolga Kumova supports the scheme, and the small retail base makes the headcount test low risk.


Meteoric Resources (MEI AU): Lynas All-Scrip Offer, Scheme Vote Low Risk

Australia

Viridis Mining and Minerals Limited operates as a mineral exploration company. The Company focused on a portfolio of coal assets located in Indonesia.

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Viridis Mining and Minerals Lt (VMM AU)

Meteoric Resources (MEI AU): Lynas' Clean, And Widely Expected, Offer

Clean deal. And trading tight (0.5% gross spread as I type). If you can take down borrow cheaply on Lynas, look to short it against Meteoric

David Blennerhassett

Meteoric Resources (MEI AU): Lynas All-Scrip Offer, Scheme Vote Low Risk

Lynas' all-scrip bid for Meteoric (A$0.286, a 68.4% premium) values Caldeira at a premium to its closest listed peer. Vote risk is low: no blocking...

Arun George

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