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Adventus Mining Corp
Symbol ADZN
Shares Issued 449,608,112
Close 2024-06-10 C$ 0.49
Market Cap C$ 220,307,975
Recent Sedar Documents

Globe says Nizami moves Adventus Mining to "tender"

2024-06-11 09:07 ET - In the News

The Globe and Mail reports in its Tuesday, June 11, edition that National Bank analyst Rabi Nizami has moved his recommendation for Adventus Mining to "tender" from "outperform" in response to its deal to be acquired by Silvercorp Metals. The Globe's David Leeder writes in the Eye On Equities column that Mr. Nizami gave his share target a 10-cent trim to 55 cents. Analysts on average target the shares at 76 cents. Mr. Nizami says in a note: "As the June 26 shareholder vote nears, and assuming the absence of any superior bid or special regulatory reviews, we expect Adventus shares to move closer in lockstep to the proposed 0.1015 times ratio to Silvercorp's share price. Adventus shares have traded up since the announcement date, lifted partly by easing of the financing overhang private placement and the share price lifting further with market exposure to silver, lead and zinc operations within Silvercorp. We recognize risks include ongoing political, social and economic strife in Ecuador, regulatory approvals in Ecuador and Canada if any, implications of Canada-Ecuador Free Trade and International Arbitration. Any extraordinary news on these matters would lead us to revisit our rating."

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