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.

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/new-world-resources-ltd" target="_blank" data-smartkarma-citation="entities:9712:1" rel="noopener">New World Resources (NWC AU)</a> is subject to a bidding war between <a href="https://www.smartkarma.com/entities/central-asia-metals-plc" target="_blank" data-smartkarma-citation="entities:23521:1" rel="noopener">Central Asia Metals (CAML LN)</a> and Kinterra. CAML’s binding offer is A$0.055 while Kinterra’s non-binding offer is A$0.057. </li>
<li>At current terms, a binding Kinterra offer would be superior as the price increase more than offsets the reverse break fees and does not require regulatory approvals.</li>
<li>Despite Kinterra’s offer representing a 103.6% premium to the undisturbed price, there remains headroom for a bidding war. </li>
</ul>



New World Resources (NWC AU) is subject to a bidding war between Central Asia Metals (CAML LN) and Kinterra. CAML’s binding offer is A$0.055 while Kinterra’s non-binding offer is A$0.057. 
At current terms, a binding Kinterra offer would be superior as the price increase more than offsets the reverse break fees and does not require regulatory approvals.
Despite Kinterra’s offer representing a 103.6% premium to the undisturbed price, there remains headroom for a bidding war. 


New World Resources (NWC AU): A Brewing Bidding War

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

<ul>
<li>It was just a matter of time when Toronto-based PE outfit Kinterra Capital, with a (then) 11.99% stake, made a move on copper miner <a href="https://www.smartkarma.com/entities/new-world-resources-ltd" target="_blank" data-smartkarma-citation="entities:9712:1" rel="noopener">New World Resources (NWC AU)</a>.</li>
<li>After declaring  it had increased its holding to 19.126%, Kinterra followed with an off-market NBIO at A$0.057/share. Presumably the Offer requires due diligence but the announcement is silent on this.</li>
<li>Separately, <a href="https://www.smartkarma.com/entities/central-asia-metals-plc" target="_blank" data-smartkarma-citation="entities:23521:1" rel="noopener">Central Asia Metals (CAML LN)</a> announced after market last Friday, it had bought 178.8mn shares (5% of shares out) at A$0.055/share; and subsequently bumped terms to A$0.055/share. </li>
</ul>


It was just a matter of time when Toronto-based PE outfit Kinterra Capital, with a (then) 11.99% stake, made a move on copper miner New World Resources (NWC AU).
After declaring  it had increased its holding to 19.126%, Kinterra followed with an off-market NBIO at A$0.057/share. Presumably the Offer requires due diligence but the announcement is silent on this.
Separately, Central Asia Metals (CAML LN) announced after market last Friday, it had bought 178.8mn shares (5% of shares out) at A$0.055/share; and subsequently bumped terms to A$0.055/share. 


New World Resources (NWC AU): On Kinterra's A$0.057/Share NBIO

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.

Equity Bottom-Up

<ul><li>New World receives an amended deal from CAML for 5.3 cents a share, with a $10 million placement to Camel at the same price.</li><li>Kinterra Capital, who holds a 12% stake in New World, is unhappy with the placement and requests an urgent order to prevent it.</li><li>The placement is conditional on New World not receiving a superior proposal from a third party in the next 14 days, which incentivizes Kinterra to make a takeover bid within that timeframe.</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

New World receives an amended deal from CAML for 5.3 cents a share, with a $10 million placement to Camel at the same price.Kinterra Capital, who holds a 12% stake in New World, is unhappy with the placement and requests an urgent order to prevent it.The placement is conditional on New World not receiving a superior proposal from a third party in the next 14 days, which incentivizes Kinterra to make a takeover bid within that timeframe.This 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/central-asia-metals-plc" target="_blank" data-smartkarma-citation="entities:23521:1" rel="noopener">Central Asia Metals (CAML LN)</a> has bumped terms for <a href="https://www.smartkarma.com/entities/new-world-resources-ltd" target="_blank" data-smartkarma-citation="entities:9712:1" rel="noopener">New World Resources (NWC AU)</a> to A$0.053/share, up from A$0.05/share initially. An off-market Offer is in parallel should the Scheme fail. </li>
<li>Separately, NWC announced a A$10mn placement - funded by CAML! - to advance its Antler Project, "conditional on either no competing proposal being received by .... 4 July 2025". </li>
<li>Toronto-Based PE outfit Kinterra Capital, with a 11.99% stake, has now <a href="https://announcements.asx.com.au/asxpdf/20250620/pdf/06ky4vw5hfzdj1.pdf" target="_blank" rel="noopener">tapped the Takeovers Panel</a> to declare the placement a frustrating tactic. </li>
</ul>



Central Asia Metals (CAML LN) has bumped terms for New World Resources (NWC AU) to A$0.053/share, up from A$0.05/share initially. An off-market Offer is in parallel should the Scheme fail. 
Separately, NWC announced a A$10mn placement - funded by CAML! - to advance its Antler Project, "conditional on either no competing proposal being received by .... 4 July 2025". 
Toronto-Based PE outfit Kinterra Capital, with a 11.99% stake, has now tapped the Takeovers Panel to declare the placement a frustrating tactic. 


New World Resources (NWC AU): CAML Bumps. Shares To Be Placed. Kinterra Taps Takeover Panel

<ul>
<li>In <a href="https://skr.ma/49fb2" target="_blank" rel="noopener">New World Resources (NWC AU)'s Possible Interloper</a>. I noted NWC's shares trading through <a href="https://www.smartkarma.com/entities/central-asia-metals-plc" target="_blank" data-smartkarma-citation="entities:23521:1" rel="noopener">Central Asia Metals (CAML LN)</a>'s A$0.05/share terms. An opportunistic investor (s) or a third party bidder?</li>
<li>Toronto-Based PE outfit Kinterra Capital has now declared a 11.99% stake, paying upward of A$0.051/share.</li>
<li>
<a href="https://www.smartkarma.com/entities/new-world-resources-ltd" target="_blank" data-smartkarma-citation="entities:9712:1" rel="noopener">New World Resources (NWC AU)</a>is currently in a trading halt due to "a potential material variation, including a proposed increase in Scheme Consideration, to a change of control transaction".</li>
</ul>


In New World Resources (NWC AU)'s Possible Interloper. I noted NWC's shares trading through Central Asia Metals (CAML LN)'s A$0.05/share terms. An opportunistic investor (s) or a third party bidder?
Toronto-Based PE outfit Kinterra Capital has now declared a 11.99% stake, paying upward of A$0.051/share.

New World Resources (NWC AU)is currently in a trading halt due to "a potential material variation, including a proposed increase in Scheme Consideration, to a change of control transaction".


New World Resources (NWC AU): Kinterra Capital Emerges With A 12% Stake

Australia

New World Resources Limited produces and mines base metals. The Company focuses on exploration and development of copper and cobalt resources projects in North America. New World Resources operates worldwide.

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New World Resources (NWC AU)