AUD 0.05 per share cash is almost double where we have recently been trading. Having said this, a bid from another miner would not surprise me - I rate the chance at 50/50 but this is just my gut feel and not based on any definitive info. This bid does demonstrate that there is some third-party interest in Antler. I also understand that numerous base metal producers are looking to increase their Cu exposure, so this may bode well for a counter-bid. CAML does not seem to have any obvious synergies with Antler (except that it is a base metal producer), since its current operations are in Europe. Logic would tell me that a US based producer should have more synergies (and therefore be able to pay a higher price) than CAML. Anyway, time will tell - it's a promising start and NWC is now absolutely in play.
GLTA & DYOR
NWC Price at posting:
2.8¢ Sentiment: Hold Disclosure: Held
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