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

• 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".

NWC is illiquid. Look away now of this is not your bag

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The Trade:

• Trading through CAML's terms at A$0.052/share.

• Shares are suspended, so there's nothing to be done.

• By all accounts, Kinterra will make an Offer, by way of a Scheme.

• CAML's Offer was already a 78.6% premium to undisturbed.

• CAML is afforded matching rights under the SID.

• With Kinterra'a 12% stake, CAML's Scheme getting up appears challenging if simply matching terms.

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The NEW News

• At 9.49AM today, NWC suspended shares.

• Around two hours later, Kinterra declared a 11.99% stake.

  • Kinterra started buying in the market on the 6th June.

• Kinterra? On the 9th October 2024, Kinterra completed the acquisition of Nevada Copper, the owner of the Pumpkin Hollow Copper Project in Nevada.

  • Who else has a copper mine nearby? New World's The Antler Copper Deposit is located in northwestern Arizona, the adjacent state.

    • Also in Arizona, New World has the Javelin VMS Project.

  • The AFR is reporting that Kinterra closed a second fund of $US1bn earlier this year.