Aug. 25 at 3:22 PM
$MSMGF $GRDM.X —Interesting Avenir precedent worth watching.
Avenir Minerals,
$AEM critical-minerals vehicle, acquired Fox River Resources for ~C
$94M after already holding an interest in the company.
• Avenir already owns Grid equity
• 15% of Falcon West acquired for C
$3.75M
• Right to increase its Grid ownership post-MRE
• Pathway to 30% of Falcon West after PEA/mine-plan milestones
• Maiden Falcon West cesium MRE expected mid/late September
• Avenir/Agnico technical expertise already involved
Establish a strategic position, learn/de-risk the asset, increase exposure, potentially consolidate later.
Unlike a pure Falcon acquisition, buying Grid would also bring Mayville, Donner and Grid’s retained interests in multiple partner-funded projects.
The takeover isn’t my thesis. The assets + MRE + strategic funding are.
But Avenir has now demonstrated that full-company acquisitions are part of its critical-minerals playbook. That’s an interesting free option to have sitting behind the
$GRDM.X story.
