HI skyper,
try this for a read,
and there's more,
but you will have to do your own research my friend,
try with the HC thread NWA,
CHEERS
BRIAN DINGO37
P/S I HOLD
Upon reading this NWA forum it looks like most participants are traders. I have news for you, you have to wait two more months, maybe a bit longer. This makes it for most of you a long term investment. But the rewards will certainly make it worthwhile.
We now know that NWA as well as Sino shareholders approved on the deal and Sino's name has been changed into Congo Copper. Two months ago Sino raised 2.6 mln pounds in seed capital at 2p per share. They intended to raise 2 mln but due to a 4 times oversubscription they took 2.6 mln pounds. CC is now doing all the legal and accounting stuff to get AIM listing and raise another 2 mln pounds at 10p. This will bring CC into the big league in Katanga. Bigger than Anvill (AVM). The first year in full production will give CC eps of 2p fully diluted. This is only CC as a copper processor without exposure to copper prices. They also have copper mining tenements in the biggest copper prospective region in the world where grades of 30% are common. Money has been raised so we will see a year of exploring and processing. When will this all happen? Next week formal sale and purchase agreement between CC and NWA will be signed subject to due dilligence and AIM will allow relisting of CC when DD is completed. In my opinion this will take two months. As a final note, its all about management: Executive Director David Cather's CV reads like that of a premium mining executive. A chartered mining engineer who has held senior executive positions with Anglo American and DeBeers.(South Africa) remember we are in Congo not far from SA.
David Mahoney CEO, former resource banker
who held senior executive positions at Climax Arimco and oversaw the BFS of the Philippine Didipio copper gold project. His most recent position was Executive director of Lafayette Mining.
And there is also Gaetan-David Kakudji, Exploration Director. His father was the interior minister in Congo in the Laurent Kabilla years and is a good friend of the current PM Josef Kabilla. They were both refugees and had their education at the university of Liege in Belgium during the Mobutu years.
All in all I think this Congo Copper will take off on AIM and NWA with a 166 mln shs stake controlling interest after CC capital raisings will fly. So why buy Congo Copper at 10p, when you can buy NWA at 2cts.
NEW WORLD ALLOYS LIMITED ABN 36 060 774 227 989 Wellington Street, West Perth WA 6005 PO Box 761, West Perth, 6872, Western Australia telephone: +61 (8) 9322 2744 facsimile: +61 (8) 9226 3233 email: [email protected] website: www.newworldalloys.com 22 August 2007
The Company Announcements Platform
ASX Limited
Exchange Centre
20 Bridge Street
SYDNEY NSW 2000
Dear Sir/Madam
RESTRUCTURE AND REFINANCING OF CONGO ASSETS
The Directors of New World Alloys Limited (NWA) are pleased to advise that a meeting of shareholders of Sino-Asia Mining and Resources plc (SAMR) was held on Monday 20 August 2007 at which the shareholders of SAMR approved the proposed transaction to purchase NWA’s assets in the Democratic Republic of Congo and the change of name to Congo Copper Corporation plc.
Under the Agreement, NWA will transfer its interest in two of its subsidiaries, Nova Mining SPRL (Nova) and Macro Mining (Macro) (which in turn owns 80% of Phoenix Resources) for the issue of 166,666,667 shares in the capital of SAMR at a deemed issue price of 2p each (Consideration Shares). SAMR have already raised some GBP₤2.2m and intends to seek admission to the Alternative Investment Market in London (AIM) around mid October.
On or before Settlement, NWA will enter into an exploration joint venture agreement (with Phoenix and Macro) in respect of the exploration licences held by Phoenix (Exploration Licences) and exploration licence applications held by Macro (Exploration Licence Applications). Pursuant to the joint venture agreement, NWA will retain a 30% interest in the Exploration Licences and Exploration Licence Applications and will fund 30% of all expenditure incurred in respect of the Exploration Licences and Exploration Licence Applications.
SAMR will use the funds raised referred to above to bring the 3 copper cupolas owned by Nova back into production, to carry out initial investigation of the Exploration Licences and Exploration Licence Applications and to fund investigation of on-site concentration of lower grade oxide ores.
Following Settlement Mr Ian Cornelius and Mr Gerard Zytkow will be appointed to the Board of SAMR representing NWA.
Please contact the undersigned if you have any queries regarding this matter.
Yours faithfully,
For NEW WORLD ALLOYS LTD
Lindsay Colless Director
NWA
new world alloys limited
