Business
Kinterra and CAML Compete with Rival Bids for New World Resources

Private equity firm Kinterra Capital and London-listed Central Asia Metals (CAML) have intensified their competition for control of New World Resources, an Australian Securities Exchange (ASX)-listed company with significant assets in the United States. Both firms have raised their offers to New World shareholders, seeking to secure a takeover of the company that is developing the promising Antler copper deposit in Arizona.
On July 17, 2023, CAML submitted a revised bidder’s statement, increasing its offer to A$0.065 per share, up from its earlier bid of A$0.05 announced in May and a subsequent offer of A$0.062 made on July 7. In response to this updated proposal, New World’s board of directors unanimously recommended that shareholders accept CAML’s offer, provided no superior proposals emerge. The board also advised shareholders to refrain from taking any action regarding Kinterra’s previous bid of A$0.064 per share, made on July 10.
Shortly after CAML’s announcement, New World confirmed a new offer from Kinterra at A$0.066 per share. This offer includes a provision for an increased price of A$0.067 if Kinterra’s relevant interest in New World surpasses 30% by 17:00 AEST on July 24. In accordance with a matching rights regime, New World issued a notice to CAML, granting the company five business days to match Kinterra’s higher bid. Nevertheless, New World’s board continues to recommend the CAML offer and has urged shareholders to withhold action on Kinterra’s proposal for now.
Earlier this month, Kinterra lodged a complaint with the Australian Takeovers Panel, alleging that New World and CAML had engaged in actions that could undermine a competitive bidding process.
New World Resources is currently focused on developing the Antler copper deposit, which Managing Director and CEO Nick Woolrych described in May as one of the highest-grade copper projects globally. The company plans to commence construction on the project later this year, with production expected to begin in 2027 for copper, zinc, and gold. The rising demand for copper, identified as a critical mineral, is further fueled by a recent announcement from the U.S. government imposing a 50% tariff on copper imports, which is anticipated to increase internal demand for copper resources.
As the bidding war escalates between Kinterra and CAML, the outcome will not only impact the companies involved but also shape the future of New World Resources and its development plans in Arizona.
Business
Electricity Authority Streamlines National Grid Connections

The Electricity Authority has announced significant changes aimed at simplifying and expediting the process for connecting to New Zealand’s national electricity grid. This initiative is designed to reduce both costs and time for businesses seeking to connect infrastructure, including public electric vehicle (EV) charging stations, manufacturing facilities, and solar farms.
The authority’s general manager, Tim Sparks, emphasized that the new measures will standardize connection rules across the country’s 29 lines companies. “Inconsistencies and inefficiencies in the application processes and pricing methodologies can add unnecessary time and cost to projects, particularly for those who want to operate in multiple regions,” Sparks stated.
Under the revised guidelines, lines companies will be required to provide the least-cost, technically acceptable solutions for connections. This approach aims to ensure that businesses are not burdened with costs for network improvements they did not request. “Any extra costs, such as running a connection underground, will be the responsibility of the party requesting it,” Sparks explained, highlighting a commitment to fair pricing.
Key Changes to Connection Processes
The Electricity Authority’s changes also target larger users, including operators of EV charge points and public transport services. These adjustments include new timeframes for decision-making, which previously lacked baseline protections for significant energy users. “To date, large energy users haven’t had baseline protections because the rules have only applied to electricity generators directly connecting to the network,” Sparks noted.
The updated framework is expected to enhance transparency and certainty for all stakeholders involved in the connection process. Sparks is optimistic that providing a clear and consistent procedure will make it more efficient for everyone involved.
The majority of the requirements concerning new connection pricing are set to take effect on 1 April 2026. This timing aligns with other distribution pricing changes and processes established by the Commerce Commission. Meanwhile, the new connection application procedures will be implemented in the second half of 2026.
The Electricity Authority’s initiative represents a proactive step toward modernizing the electricity network, ensuring that New Zealand can meet the growing demand for reliable and efficient energy solutions. As businesses prepare for these changes, the focus remains on creating an environment that fosters innovation and sustainability in the energy sector.
Business
University Students Face Legal Risks for Promoting Gambling Sites

University students in New Zealand have received warnings from the Department of Internal Affairs regarding their promotion of overseas gambling websites on social media. This action follows the identification of ten students, primarily from the universities of Otago and Canterbury, who were found endorsing sites such as Rainbet and SpinBet in exchange for financial incentives.
The crackdown on this practice comes after internet personality Millie Elder-Holmes was fined $5,000 in May for similar promotional activities. Investigations revealed that numerous Instagram accounts, boasting thousands of followers, featured students posting videos of themselves wagering significant sums of money on these offshore platforms. Many posts included links, logos, or referral codes urging viewers to register with these gambling sites. Some students openly discussed their motivations for gambling, citing expenses like parking fines, petrol, and even student loan payments, which often totalled around $300.
In an effort to address these concerns, Vicki Scott, director of gambling regulatory services at the Department of Internal Affairs, noted that the department is actively investigating complaints related to these promotions. “The students we’ve spoken to have been co-operative, and several have taken immediate steps to remove the content,” Scott remarked. She emphasized the seriousness of the situation, stating, “Promoting overseas gambling websites is illegal and can result in a $5,000 infringement fine.”
While online gambling is legal for New Zealanders, advertising these platforms within the country remains prohibited. Andrée Froude, director of advocacy and public health at the Problem Gambling Foundation, expressed concerns about the use of social media to bypass this advertising ban. She cited past instances, such as when Brendon McCullum was used to promote the site 22Bet, prompting Google to intervene and remove the ads.
The involvement of university students in promoting online gambling raises alarms, particularly as they are often financially vulnerable. “They are targeting young students who might not have a lot of extra money to spend,” Froude stated, deeming the situation “appalling.”
Attempts to gather responses from Rainbet and SpinBet were unsuccessful prior to publication.
Government Response and Future Regulations
The New Zealand government is preparing to implement a licensing regime for online gambling, which would allow up to 15 online casinos, including some offshore companies, to operate legally within the country. Companies that fail to secure a license could face fines of up to $5 million. Brooke van Velden, the Internal Affairs Minister, acknowledged the issue, stating, “I am aware of cases of people, who appear to be university students, promoting online casino gambling through their social media accounts.”
She indicated that the department is investigating these cases and may impose penalties, including formal warnings or fines, as deemed appropriate.
Concerns have also been voiced by Francisco Hernandez, the Green Party’s tertiary education spokesperson. He warned that the introduction of overseas casino licenses could lead to an increase in gambling among New Zealanders. “There is a risk legislation like that could end up mainstreaming the idea of online gambling,” he stated, emphasizing the necessity for local operators who comply with regulations to ensure responsible gambling practices.
According to research from the AUT gambling and addictions research centre, led by Maria Bellringer, the new legislation will permit offshore operators to legally advertise in New Zealand for the first time. The most recent New Zealand Gaming Survey revealed that individuals aged 15 to 24, predominantly males, are the most likely demographic to engage with online casinos. “I imagine the harms are going to increase and particularly to our young people,” Bellringer cautioned.
As online gambling becomes more accessible, the potential for harm among young people—who are typically more exposed to the internet and gaming—is a significant concern. The prevalence of these gambling sites poses a risk, as they often target financially vulnerable individuals with appealing marketing strategies. The implications of this trend could result in increased gambling-related issues across the country.
As discussions surrounding the regulation of online gambling continue, it remains essential for students and the broader community to understand the legal ramifications and potential risks associated with promoting these platforms.
Business
Madison Malone Launches Independent Journalism Venture on YouTube

Madison Malone, a prominent journalist from New Zealand, is embarking on a new journey as she transitions to independent journalism through platforms like YouTube. Malone, the host of the podcast “Markets with Madison,” recently shared her vision and motivations during an episode of the Media Insider podcast. She explained her decision to produce content independently and outlined her plans for a new show, emphasizing a shift towards greater freedom in her work.
In her conversation, Malone reflected on her early fascination with news, recalling how her childhood routine involved watching the 6 PM television news. “I remember – well, I don’t remember but I’ve been told numerous times in my life – that I was always watching the news,” Malone shared. This deep-rooted interest has now evolved into a desire to create her own narrative, away from traditional media constraints.
The concept of “tall poppy syndrome,” a cultural phenomenon in which successful individuals are criticized or resented, was also discussed. Malone believes this mindset is gradually fading, suggesting that audiences are becoming more supportive of independent voices in journalism. She hopes that her new platform will allow her to explore topics with a fresh perspective, unencumbered by established media practices.
Malone’s shift to independence comes at a time when many journalists are seeking alternatives to traditional media outlets. With the rise of digital platforms, the landscape of news consumption is rapidly changing. According to a report by the Reuters Institute for the Study of Journalism, independent journalism is gaining traction, especially among younger audiences who prefer diverse sources of information.
As Malone prepares for this new chapter, she is focused on building a community around her content. She aims to engage directly with her audience, fostering a space for open dialogue and discussion. Her commitment to transparency and authenticity is evident in her plans for the new show, which will cover a range of topics relevant to her viewers.
In a media environment often criticized for bias and sensationalism, Malone’s independent approach may resonate with those seeking more credible and relatable journalism. By leveraging platforms like YouTube, she plans to reach a broader audience and provide insights that reflect her unique voice and perspective.
As she embarks on this independent journey, Malone is poised to contribute to the evolving narrative of journalism in New Zealand and beyond. Her commitment to authentic storytelling and engagement may set a new standard for how journalists connect with their audiences in the digital age.
Business
Moomoo Singapore Surpasses 1.5 Million Users at MooFest 2025

Moomoo Singapore has officially surpassed 1.5 million users, marking a significant achievement in the company’s growth and influence within the retail investing landscape. This milestone was announced during MooFest 2025, held on July 12, 2025, at the Suntec Convention Centre, where the event attracted nearly 4,000 attendees, including investors, partners, and community members.
Themed ‘The Future of Wealth, Reimagined,’ MooFest 2025 focused on how innovation and accessibility are reshaping investment opportunities for everyday Singaporeans. Gavin Chia, CEO of Moomoo Singapore, emphasized the importance of this user growth, stating that it reflects the platform’s integration into the nation’s financial ecosystem. He noted that this new user count represents one in two Singapore residents aged 20 to 70.
This achievement indicates a 50% increase in user growth within just 15 months since reaching the 1 million user mark in April 2024. Chia highlighted the blend of intuitive technology, financial education, and community support as key drivers of this surge.
Investor Success Amid Market Volatility
During his keynote address, Chia revealed that nearly 70% of Moomoo Singapore’s clients reported profitability over the past year, despite volatile market conditions in the first half of 2025. Equities remain the most popular investment choice, constituting almost 60% of successful portfolios, while wealth management products accounted for 26%.
Chia attributed this success to a proactive investment strategy. He noted that investors adjusted their portfolios in response to market shifts, reducing their exposure to the US market while increasing their investments in Hong Kong and maintaining a steady position in Singapore. “The data is clear: informed, agile investors who stay the course continue to find opportunities, even in challenging environments,” he said.
The event also introduced Moomoo AI, an advanced investment assistant designed to help users make informed decisions by analyzing stocks and tracking market trends through a user-friendly interface. This tool delivers real-time insights by combining financial data, technical indicators, and the latest news tailored to user queries.
Expansion into Digital Assets
Moomoo Singapore is doubling down on its digital asset offerings, having successfully launched crypto trading in 2024. As of July 15, 2025, it remains the only licensed online broker in Singapore to provide these services. According to its recent Retail Investor Sentiment Survey, nearly 8% of investors plan to increase their cryptocurrency exposure in the latter half of 2025, a sentiment that rises to 30% among high-risk investors.
In response to this emerging demand, Moomoo plans to introduce new crypto products and enhanced analytics to assist users in diversifying their portfolios.
MooFest featured over 50 speakers from various financial institutions and included panel discussions focused on navigating the evolving market landscape. Sessions covered topics such as macroeconomic trends, digital finance integration, and the rise of AI in investing. The discussions aimed to translate Moomoo Singapore’s technological advancements into actionable strategies for everyday investors.
The event also highlighted Moomoo’s commitment to deepening its local market presence. Key initiatives announced included the linkage to CDP for seamless access to SGX-listed stocks and the upcoming launch of boutique physical stores. These stores will blend digital convenience with personalized support, creating hubs for financial education and community engagement.
As Moomoo Singapore continues to innovate, its mission remains clear: to empower retail investors with the knowledge, tools, and confidence to successfully navigate the markets. Chia concluded, “What we’re building at Moomoo goes far beyond a trading platform. We’re shaping the future of retail investing — one that’s smarter, more inclusive, and deeply connected to the needs of the next generation.”
With 1.5 million users and growing, Moomoo Singapore’s trajectory reflects its commitment to fostering a more confident retail investing culture, not just within Singapore but across the region.
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