In today’s briefing:
- Santos (STO AU): Why FIRB Should Block ADNOC’s Takeover
- New World Resources (NWC AU): Kinterra Firms A$0.057/Share Off-Market Offer
- New World Resources (NWC AU): CAML Raises to A$0.062, Next Move Kinterra
- Commonwealth Bank of Australia – The Overnight Report: Geopolitical Crescendo
- Clarity Pharmaceuticals Ltd (CU6 AU): Steady Progress Toward Commercialization
- Santos Ltd – Next Week At A Glance – 23-27 Jun 2025
- Metcash Outlook: Tobacco Sales vs Rate Cuts
- Platinum Asset Management – The Overnight Report: Waiting & Watching
- The Overnight Report: FOMO Is Back (Nvidia Too)
- Artrya Ltd – Australian Broker Call *Extra* Edition – Jun 18, 2025
Santos (STO AU): Why FIRB Should Block ADNOC’s Takeover
- There is no shortage of opinions on whether FIRB will back/oppose the Santos Offer, as Australia seeks to balance attracting foreign investment with the need to protect national interests.
- The key question is how Australia benefits from Santos becoming a foreign-owned national oil/gas company? Can ADNOC accelerated/bolster existing projects/operations? Can ADNOC better negotiate native title rights for domestic supply?
- And should Australia readily sell 100% in a critical infrastructure complex; yet if the roles were reversed, foreigners are capped at 49% ownership in UAE’s similar critical assets?
New World Resources (NWC AU): Kinterra Firms A$0.057/Share Off-Market Offer
- Kinterra has now firmed an off-market Offer for at A$0.057/share for copper-play New World Resources (NWC AU). There is no minimum acceptance condition.
- Kinterra’s Bidder’s Statement will be dispatched no later than the 10th July, at which time the Offer will open. A Target statement is expected 15 days later.
- Central Asia Metals (CAML LN) has matchng rights. Expect those rights to be used.
New World Resources (NWC AU): CAML Raises to A$0.062, Next Move Kinterra
- After market close, CAML acquired a total of 253.0 million New World Resources (NWC AU) shares via off-market trades, representing 7.08% of the outstanding shares, at A$0.062 per share.
- Central Asia Metals (CAML LN)’s scheme and takeover offer has increased to A$0.062, a 12.7% premium to CAML’s previous A$0.055 offer and an 8.8% premium to Kinterra’s A$0.057 offer.
- CAML and Kinterra’s stake prevents the other from exercising compulsory acquisition rights. Despite CAML’s offer representing a 121.4% premium to the undisturbed price, there remains headroom for a bidding war.
Commonwealth Bank of Australia – The Overnight Report: Geopolitical Crescendo
- A global perspective on what happened overnight
Clarity Pharmaceuticals Ltd (CU6 AU): Steady Progress Toward Commercialization
- Clarity Pharmaceuticals Ltd (CU6 AU) initiated Phase 3 trial for its lead diagnostic candidate 64Cu-SARbisPSMA. The trial intends to gather data for filing of the product.
- The company’s cash position at the end of the March quarter was A$95M, with additional A$11M received in April for FY24 R&D tax incentive. This provides cash runway through 2H26.
- Clarity has built a robust supply of copper-64 with a wide network of product manufacturers in preparation for its two Phase 3 trials in prostate cancer and potential commercialization.
Santos Ltd – Next Week At A Glance – 23-27 Jun 2025
- A brief look at important company events and economic data releases next week
Metcash Outlook: Tobacco Sales vs Rate Cuts
- Metcash’s FY25 result was solid, showing resilience in Food & Liquor.
- Signs are positive for a recovery in Hardware, but rate cuts are key
Platinum Asset Management – The Overnight Report: Waiting & Watching
- A global perspective on what happened overnight
The Overnight Report: FOMO Is Back (Nvidia Too)
- A global perspective on what happened overnight
Artrya Ltd – Australian Broker Call *Extra* Edition – Jun 18, 2025
- Extra Edition of the Broker Call Report
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