Northern Minerals (NTU AU): More Board Games

• Back in June 2024, the Aussie Treasurer made orders requiring Singapore-based Yuxiao and four (deemed) associated investors to sell their shares in Northern Minerals (NTU AU) within 60 days.

• I discussed this situation in Northern Minerals (NMI AU): Chinese Investors Forced To Exit. One shareholder, Indian Ocean International Shipping, stonewalled, and was subsequently fined A$14mn late last year.

• The latest news concerns Beijing-based Vastness Investment Group, Northern Minerals largest shareholder (7.7%), withdrawing its requisition to oust Adam Handley (chairman). These developments appear geared to stress-testing Aussie foreign investment.

Northern Minerals is illiquid. Look away now if this is not your thing.

This insight is labelled bullish, as I’m not bearish here.

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The Trade:

• FIRB scrutiny regarding Chinese-linked investments and board control have overshadowed Northern Minerals.

• This latest requisition withdrawal is positive.

• I’d be surprised if further similarly-structured requisitions are forthcoming.