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Larvotto Resources Limited (ASX:LRV)

ALERT: Price-sensitive ASX Announcement for LRV
Current share price for LRV : $1.120 -0.15 (-11.81%)+
Announcement
Release
8 Jul 2026 9:16AM
Price at Release
$1.270
Full Release
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Summary
Larvotto Resources Limited has announced a response to a competing proposal from Austral Resources Limited regarding the acquisition of Hammer Metals Limited. Larvotto has a Scheme Implementation Deed (SID) with Hammer, intending to acquire all shares through a scrip-based combination. The Austral offer is considered incomplete and conditional, and Larvotto's Matching Right hasn't been triggered. The Hammer Board recommends shareholders vote in favor of Larvotto's offer unless a superior proposal arises. Larvotto's offer promises exposure to gold and antimony production, supported by a strong financial position and strategic projects.
Key Points
  • Larvotto Resources Limited responds to a Non-Binding Indicative Offer from Austral Resources.
  • Larvotto has an existing Scheme Implementation Deed with Hammer Metals.
  • The Austral offer is incomplete, conditional, and non-binding.
  • Larvotto maintains a Matching Right that has not been triggered.
  • Hammer's Board recommends the Larvotto offer in the absence of a superior proposal.
  • Larvotto's offer includes exposure to gold and antimony production.
  • Larvotto is financially strong with anticipated near-term cash flow.
  • Hillgrove project is a key element, with high-grade gold and antimony resources.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.