Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>Back on the 8th July, copper-gold play <a href="https://www.smartkarma.com/entities/rex-minerals-ltd" target="_blank" data-smartkarma-citation="entities:13845:1" rel="noopener">Rex Minerals (RXM AU)</a> entered into a Scheme with MACH Australia. MACH, a wholly-owned entity of Indonesia's Salim Group, at A$0.47/share, in cash.</li>
<li>That's a 71% premium to last close and a decade-high. The Offer has unanimous board support. Apart from Rex shareholder approval, the Offer requires FIRB signing off.</li>
<li>
The Scheme Booklet is now <a href="https://announcements.asx.com.au/asxpdf/20240904/pdf/067j2phgsfwd3p.pdf" target="_blank" rel="noopener">out</a>, with a Scheme Meeting to be held on the 10th October. Expected implementation on the 30 October. The IE says fair &amp; reasonable.</li>
</ul>


Back on the 8th July, copper-gold play Rex Minerals (RXM AU) entered into a Scheme with MACH Australia. MACH, a wholly-owned entity of Indonesia's Salim Group, at A$0.47/share, in cash.
That's a 71% premium to last close and a decade-high. The Offer has unanimous board support. Apart from Rex shareholder approval, the Offer requires FIRB signing off.

The Scheme Booklet is now out, with a Scheme Meeting to be held on the 10th October. Expected implementation on the 30 October. The IE says fair &amp; reasonable.


Rex Minerals (RXM AU): 10th Oct Vote On Salim Group's 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>The <a href="https://www.smartkarma.com/entities/rex-minerals-ltd" target="_blank" data-smartkarma-citation="entities:13845:1" rel="noopener">Rex Minerals (RXM AU)</a> IE considers MACH Metals Australia’s A$0.47 offer fair and reasonable as it is towards the upper end of the A$0.346 to A$0.484 valuation range. </li>
<li>The key conditions are shareholder and FIRB approvals. FIRB approval should be forthcoming as Salim is the largest shareholder and the cordial Indonesia-Australia relations.</li>
<li>An attractive offer, medium retail ownership and no independent substantial shareholder ensures a done deal. At the last close and for the 30 October payment, the gross/annualised spread is 3.3%/15.9%. </li>
</ul>


The Rex Minerals (RXM AU) IE considers MACH Metals Australia’s A$0.47 offer fair and reasonable as it is towards the upper end of the A$0.346 to A$0.484 valuation range. 
The key conditions are shareholder and FIRB approvals. FIRB approval should be forthcoming as Salim is the largest shareholder and the cordial Indonesia-Australia relations.
An attractive offer, medium retail ownership and no independent substantial shareholder ensures a done deal. At the last close and for the 30 October payment, the gross/annualised spread is 3.3%/15.9%. 


Rex Minerals (RXM AU): Scheme Vote on 10 October

Breaking Down the Mining News of the Day, Money of Mine

Money of Mine

Breaking Down the Mining News of the Day

An ex-underground miner, an ex-investment banker, and an ex-equity research guy breaking down the mining news of the day. It's a bit of entertainment, information, and occasionally some alpha.

<ul><li>Rex Minerals being acquired by major shareholder, Selim Group, for $393 million</li><li>Acquisition comes after extensive partnering process and recent investment by Mac with 16% shareholding</li><li>Rex's Hillside project in South Australia has historical challenges but now looks set for development with new ownership and funding capabilities</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Rex Minerals being acquired by major shareholder, Selim Group, for $393 millionAcquisition comes after extensive partnering process and recent investment by Mac with 16% shareholdingRex's Hillside project in South Australia has historical challenges but now looks set for development with new ownership and funding capabilitiesThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/rex-minerals-ltd" target="_blank" data-smartkarma-citation="entities:13845:1" rel="noopener">Rex Minerals (RXM AU)</a> has entered a scheme implementation deed with MACH Metals Australia at A$0.47 per share, a 70.9% premium to the undisturbed price (5 July).</li>
<li>The key conditions are shareholder and FIRB approvals. FIRB approval should be forthcoming as Salim is the largest shareholder and the cordial Indonesia-Australia relations.</li>
<li>While the offer represents a 10-year high, it implies multiples, which are light compared to precedent transactions. Nevertheless, this is a done deal. At last close, the spread was 9.3%.</li>
</ul>



Rex Minerals (RXM AU) has entered a scheme implementation deed with MACH Metals Australia at A$0.47 per share, a 70.9% premium to the undisturbed price (5 July).
The key conditions are shareholder and FIRB approvals. FIRB approval should be forthcoming as Salim is the largest shareholder and the cordial Indonesia-Australia relations.
While the offer represents a 10-year high, it implies multiples, which are light compared to precedent transactions. Nevertheless, this is a done deal. At last close, the spread was 9.3%.


Rex Minerals (RXM AU): Salim Group’s Binding Offer at A$0.47

<ul>
<li>Copper-Gold play <a href="https://www.smartkarma.com/entities/rex-minerals-ltd" target="_blank" data-smartkarma-citation="entities:13845:1" rel="noopener">Rex Minerals (RXM AU)</a> has <a href="https://announcements.asx.com.au/asxpdf/20240708/pdf/065cd6cnf96yxh.pdf" target="_blank" rel="noopener">entered into a Scheme</a> with MACH Australia.</li>
<li>MACH, wholly-owned by Indonesia's Salim Group, is offering A$0.47/share in cash, a 71% premium to last close and a decade-high.</li>
<li>Rex shareholder approval and FIRB are the key conditions. Rex's board is unanimously supportive. This Offer will tentatively complete late October.</li>
</ul>


Copper-Gold play Rex Minerals (RXM AU) has entered into a Scheme with MACH Australia.
MACH, wholly-owned by Indonesia's Salim Group, is offering A$0.47/share in cash, a 71% premium to last close and a decade-high.
Rex shareholder approval and FIRB are the key conditions. Rex's board is unanimously supportive. This Offer will tentatively complete late October.


Rex Minerals (RXM AU)'s Scheme With The Salim Group

Australia

Rex Minerals Ltd. provides mining services. The Company offers acquisition, development, and exploration of gold in South Australia.

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Rex Minerals (RXM AU)