New World Resources Valued at A$185M in All-Cash Takeover Deal
New World Resources Limited has entered a binding agreement for acquisition by Central Asia Metals Plc at a significant premium, valuing the company at approximately A$185 million. The transaction, unanimously recommended by New World’s board, is set to complete by September 2025, subject to shareholder and court approvals.
- Scheme Implementation Deed signed with Central Asia Metals Plc
- Acquisition values New World at ~A$185 million
- 95.7% premium to 30-day VWAP and 150% premium to March 2025 capital raise price
- Unanimous board recommendation pending shareholder and court approval
- Transaction not subject to financing or due diligence conditions
A Strategic Acquisition at a Premium
New World Resources Limited (ASX: NWC), an Australian copper-focused mining company, has agreed to be acquired by Central Asia Metals Plc (LON: CAML), a London-listed base metals producer. The agreement, formalised through a Scheme Implementation Deed, proposes an all-cash acquisition valuing New World at approximately A$185 million. This price represents a substantial premium of 95.7% over New World’s 30-day volume weighted average price and a remarkable 150% premium over the issue price of its March 2025 capital raise.
The transaction is structured as an Australian scheme of arrangement, under which CAML will acquire all shares in New World at A$0.05 per share. The deal follows a highly competitive financing and strategic partnering process, during which New World attracted strong interest from multiple Tier-1 financiers and strategic partners. Despite this, the Board of New World concluded that the CAML offer provides the most attractive, certain, and accelerated value realisation for shareholders.
Board Endorsement and Shareholder Approval
The New World Board unanimously recommends that shareholders vote in favour of the Scheme, subject to the independent expert’s confirmation that the transaction is in shareholders’ best interests and the absence of a superior proposal. Directors collectively holding approximately 2.56% of shares have committed to voting in favour. The Scheme is subject to customary conditions, including regulatory approvals in the US and North Macedonia, court approval, and shareholder approval at a Scheme Meeting expected in August 2025. Implementation is anticipated shortly thereafter, in September 2025.
Importantly, the Scheme is not conditional on financing or due diligence, reflecting CAML’s strong balance sheet and commitment to fund the acquisition and subsequent development of New World’s assets.
CAML’s Expertise and Strategic Fit
Central Asia Metals is a well-capitalised base metals producer with operations in Europe and Central Asia, including the SASA underground zinc-lead mine in North Macedonia and the Kounrad SX-EW copper project in Kazakhstan. CAML’s institutional shareholder base includes Fidelity International, JO Hambro, and BlackRock, underscoring its financial strength and governance standards.
The acquisition of New World’s Antler Copper Project in Arizona, alongside its other US-based projects, fits CAML’s strategic focus on underground base metals operations. CAML brings extensive underground mining expertise and a strong balance sheet, positioning it well to advance the Antler project towards production. New World’s Managing Director, Nick Woolrych, expressed confidence that CAML will be a capable steward of the project, combining CAML’s operational expertise with New World’s established US team.
Transaction Details and Next Steps
The Scheme Consideration values New World’s fully diluted equity at approximately A$185 million, based on around 3.54 billion ordinary shares on issue, plus options and performance rights. The transaction includes detailed exclusivity provisions, break fees, and a comprehensive timetable. Key milestones include the submission of the Scheme Booklet to ASIC and ASX in late July 2025, the Scheme Meeting in late August, and court approval in early September.
Shareholders are not required to take any immediate action. The New World Board will continue to update the market on material developments as the transaction progresses.
Implications for Shareholders and the Market
This acquisition offers New World shareholders a significant premium and a clear exit opportunity, avoiding the risks and dilution associated with a standalone development of the Antler Copper Project. For CAML, the deal represents a strategic expansion into the US copper sector, complementing its existing portfolio and reinforcing its position as a global base metals producer.
Bottom Line?
As the transaction moves towards shareholder and court approvals, investors will watch closely for any competing bids and the pace of regulatory clearances that will determine the future of New World’s copper assets.
Questions in the middle?
- Will any competing proposals emerge before the Scheme Meeting in August 2025?
- How will CAML finance the development of the Antler Copper Project post-acquisition?
- What are the key regulatory hurdles in the US and North Macedonia that could impact transaction timing?