In today’s briefing:
- Evolution Mining Placement – Back to Equity Markets Again to Fund Another M&A Deal
- Vallourec – ESG Report – Lucror Analytics
Evolution Mining Placement – Back to Equity Markets Again to Fund Another M&A Deal
- Evolution Mining (EVN AU) is looking to raise around US$350m to partially fund its acquisition of an 80% stake in the Northparkes copper and gold mines.
- While the acquisition wasn’t explicitly flagged, the firm has guided that it had been eyeing acquisitions into gold/copper pathways. Thus, we would argue that the deal is somewhat well flagged.
- That being said, at 14 days of three month ADV, the deal isn’t a particularly small one for the firm to digest.
Vallourec – ESG Report – Lucror Analytics
Lucror Analytics’ ESG Scores are based on a 3-tiered scale and are adjusted for Controversies (if applicable).
We assess Vallourec’s ESG as “Adequate”. While the Governance, Environmental and Social pillars are “Strong”, the company’s “Material” Controversies weigh on the overall score. Disclosure is “Strong”.
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