29 November 2006 Manger of Company Announcements Australian Stock Exchange Limited Level 6, 20 Bridge Street, Sydney NSW 2000 By E-Lodgement Dear Sir / Madam DISPOSAL OF AFRICAN ASSETS New World Alloys Limited (NWA) advises that it has entered into a heads of agreement with Weatherly International PLC (Weatherly) for the disposal of NWA’s African assets. Weatherly, which trades on the AIM market of the London Stock Exchange, has entered into preliminary discussions to acquire the wholly owned subsidiaries of NWA which hold all the African assets. The consideration for the acquisition by Weatherly is A$7,500,000. New World Alloys is responsible for paying all outstanding liabilities of its subsidiaries prior to completion of the transaction, estimated to be US $500,000. The transaction is conditional, subject to due diligence by Weatherly, shareholder approval by NWA and any other regulatory approvals that may be required by either party. Yours faithfully DAVID McARTHUR Company Secretary
EZE Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
