IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

Arun has over 15 years’ experience covering the Technology sector. During this time, he has worked with technology start-ups and as an equity analyst in investment banks and independent research firms. He was formerly a Technology Analyst for Canaccord Genuity, Altium Securities, Espirito Santo Investment Bank, Noble Group and Clear Capital. He has a dual Master’s degree in Financial Engineering and Industrial and Operations Engineering from the University of Michigan. He obtained his Bachelor’s degree in Mechanical Engineering from the Indian Institute of Technology, Bombay. He is also a CFA charterholder.

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.

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/larvotto-resources-limited" target="_blank" data-smartkarma-citation="entities:36437:1" rel="noopener">Larvotto Resources (LRV AU)</a> has disclosed a non-binding proposal from <a href="https://www.smartkarma.com/entities/united-states-antimony-corp" target="_blank" data-smartkarma-citation="entities:38018:1" rel="noopener">United States Antimony (UAMY US)</a> (USAC) at 6 USAC shares for every 100 Larvotto shares.</li>
<li>The offer is unattractive as the current implied offer value is 20% below the last close price and undervalues the core Hillgrove Mine based on the DFS's NPV analysis.</li>
<li>USAC's share price meteoric rise YTD amplifies the risk of the all-scrip offer. The Board should push for better terms or outright reject the NBIO. </li>
</ul>



Larvotto Resources (LRV AU) has disclosed a non-binding proposal from United States Antimony (UAMY US) (USAC) at 6 USAC shares for every 100 Larvotto shares.
The offer is unattractive as the current implied offer value is 20% below the last close price and undervalues the core Hillgrove Mine based on the DFS's NPV analysis.
USAC's share price meteoric rise YTD amplifies the risk of the all-scrip offer. The Board should push for better terms or outright reject the NBIO. 


Larvotto Resources (LRV AU): USAC’s Unattractive NBIO