Daily Brief Australia: New World Resources, Coronado Global Resources Inc, Silk Logistics, Dexus Property, DroneShield Ltd, Warriedar Resources , Aft Pharmaceuticals, Nanosonics Ltd and more

• Suitors Central Asia Metals (CAML LN) and Kinterra Capital are locked at A$0.062/share bids apiece for copper play New World Resources (NWC AU).
• Kinterra has tapped the Takeovers Panel after NWC failed to terminate the CAML placement “despite the relevant condition for the termination of that agreement having been satisfied“.
• Kinterra’s application has merit. Expect the Panel to make orders preventing the placement. Kinterra currently holds 19.3% of shares out and CAML 12.08%. 

• Declining coking coal prices, operational issues, a credit rating downgrade, and Sev.en Global’s failed Offer, have resulted in met coal play Coronado (CRN AU)‘s shares trading around an all-time low. 
• Shares popped 14.8% today, and are now up ~48% from its all-time low a month ago.
• What gives? Coronado has already confirmed the potential sale of a minority interest in certain assets. But there is speculation a full Offer may be in the wings.

• Given the ACCC’s comprehensive list of concerns, as detailed in Silk Logistics (SLH AU): ACCC’s Statement Of Issues, this approval comes as a (pleasant) surprise. 
• DP World’s Offer for Silk Logistics (SLH AU) remains subject to FIRB signing off and a Scheme vote. Neither of which should pose an issue. 
• Timing? The IE and Scheme Booklet are all in place – from December last year. This requires a new schedule from the Courts. A possible revised timetable suggest late-August completion. 

• A global perspective on what happened overnight

• Update on changes to and revisions of analysts’ Best Ideas and Conviction Calls, as well as Model Portfolio compositions

• Warriedar Resources Limited (ASX:WA8) is an emerging gold and antimony developer whose flagship Golden Range project hosts ~2.3moz in AuEq resources in the prolific gold producing Murchison region of Western Australia.
• Since the acquisition of the project in CY23, WA8 has expanded the gold resource and delineated a globally significant antimony resource which is also contained in the core Ricciardo deposit.
• Whilst the gold resource alone could support a commercial development, the overlapping antimony resource not only increases the economic value, it adds a strategic value to the project given the supply shortages and trade restrictions affecting this commodity.

AFT Pharmaceuticals has provided an investor update for Q2 CY25 (Q1 FY26), summarising material progress made across its global expansion and R&D-driven growth strategy. The highlight of the period was the launch of Maxigesic IV/Combogesic IV in Canada, marking the beginning of direct sales in North America. This, along with the expanded licensing and profit-share agreement with Hikma in May 2025 (to include distribution of Combogesic Rapid in the US), provides AFT with a solid foundation to expand its footprint in these key global markets. The period also saw notable R&D progress including a pre-investigational new drug (IND) filing with the FDA for AFT’s antibiotic eyedrop targeting resistant ocular infections (eg MRSA), and preparations for filings related to its strawberry birthmarks topical (pre-IND) treatment and the Phase-III ready novel injectable iron therapy. A paediatric study of Maxigesic IV is also planned, which could expand the addressable patient populations.

• Structural growth and challenges are in focus this week for In Brief’s stock snacks with those companies benefitting from longer term trends or impeded by uncertainty