Australia's Larvotto Resources gets takeover offer, valuing firm near $470 million (updated)

Larvotto Resources

20/10/2025 01:11

Adds details from paragraph 2

Oct 20 (Reuters) - Australia's Larvotto Resources LRV.AX said on Monday it had received a non-binding indicative offer from United States Antimony Corporation (USAC), valuing the miner at about A$722.9 million ($469.88 million).

Shares of Larvotto rose as much as 16.1% to a record high of A$1.44 by 0000 GMT.

USAC, which sells antimony, zeolite, and precious metals primarily in the U.S. and Canada, offered A$1.40 per Larvotto share, representing a 12.9% premium to the stock's last close.

The offer comes after USAC acquired a 10.0% shareholding in the Australian firm on Friday, which it "believes makes USAC Larvotto's largest single shareholder," the U.S. firm said on Sunday.

Larvotto said there was no certainty that the offer would ultimately result in a binding proposal.

($1 = 1.5385 Australian dollars)

 (Reporting by Shivangi Lahiri in Bengaluru; Editing by Subhranshu Sahu)

 ((shivangi.lahiri@thomsonreuters.com))