In today’s briefing:
- New World Resources (NWC AU): Expect CAML To Match Kinterra’s Terms
- Adriatic Metals (ADT AU): 13th August Vote On Dundee Metals (DPM CN)’s Offer
- Treasure Chest: CSL Not A One-Trick Pony
- oOh!Media Ltd – The Overnight Report: Long-End Yields Rising
New World Resources (NWC AU): Expect CAML To Match Kinterra’s Terms
- Writing reports on copper-play New World Resources (NWC AU) is tricky as they have a half-life of days, sometimes hours, as Kinterra and Central Asia Metals (CAML LN) compete head-to-head.
- Last week, Kinterra bumped its off-market Offer to A$0.063/share; which increases to A$0.064/share if it gets to 30%. CAML, currently at A$0.062/share, has matching rights up until the 17th July.
- The Takeovers Panel has now, not altogether unsurprisingly, opted not to declare unacceptable circumstances regarding Kinterra’s two applications.
Adriatic Metals (ADT AU): 13th August Vote On Dundee Metals (DPM CN)’s Offer
- Back on the 13th June, dual-listed silver play Adriatic Metals PLC (ADT AU) announced a cash/scrip Offer from Dundee Precious Metals (DPM CN),with an implied Offer price of A$5.56/share, a
- Dundee is offering 0.1590 new Dundee shares per ADT share, plus 93 pence in cash. Roughly a 35:65 cash/scrip split for the Aussie-listed line. And a 47.8% premium to undisturbed.
- As Adriatic is incorporated in the UK, the Offer is being done by a UK Scheme. The Scheme Doc is now out, with a shareholder vote on the 13th August.
Treasure Chest: CSL Not A One-Trick Pony
- FNArena’s Treasure Chest reports on money making ideas from stockbrokers and other experts.
- Today’s idea is on CSL
oOh!Media Ltd – The Overnight Report: Long-End Yields Rising
- A global perspective on what happened overnight
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