New World Resources Faces Delisting Risk as Central Asia Metals Pursues 100% Control

Background to the Bid

Central Asia Metals Plc (CAML), a UK-headquartered base metals producer with operations in Europe and Central Asia, has launched an unconditional off-market takeover bid for all ordinary shares in Australian-listed New World Resources Limited (NWC). The offer price is A$0.065 per share, representing a substantial premium to recent trading levels and a clear step up from a competing bid by Kinterra Capital GP Corp. II.

The bid values New World at approximately A$240 million and is fully funded through a combination of CAML's existing cash reserves and a newly arranged senior secured credit facility of up to US$170 million. CAML currently holds a 12.08% stake in New World and is seeking to acquire 100% ownership.

Board Endorsement and Shareholder Implications

New World's board of directors has unanimously recommended shareholders accept CAML's offer in the absence of a superior proposal. Directors, who collectively hold around 3.3% of shares, have indicated their intention to accept the offer for their own holdings. The unconditional nature of the offer provides shareholders with certainty of value and a straightforward cash exit.

The offer price represents a premium of over 130% to the closing price on 20 May 2025, and more than double the price of a recent placement at A$0.020 per share. This premium underscores CAML's commitment to securing control and reflects the strategic value it sees in New World's assets, including the Antler, Javelin, and Tererro projects in North America.

Strategic Intentions and Future Outlook

CAML has signaled its intention to conduct a thorough review of New World's operations post-acquisition but expects to continue the business substantially as it currently operates. The company plans to reconstitute the New World board with CAML nominees and retain the vast majority of existing employees, reflecting a commitment to operational continuity and project development.

If CAML acquires 90% or more of New World's shares, it intends to compulsorily acquire the remaining shares and delist New World from the ASX. This would streamline ownership and potentially accelerate decision-making and project advancement.

Offer Mechanics and Next Steps

The offer opened on 17 July 2025 and is scheduled to close at 7, 00pm Sydney time on 18 August 2025, unless extended. Shareholders can accept the offer online or via paper acceptance forms, with payment to be made within five business days of valid acceptance. The offer extends to shares issued on exercise of convertible securities during the offer period, with arrangements in place to cancel outstanding options on terms favorable to option holders.

Shareholders are advised to carefully review the bidder's statement and consider the offer in light of their investment objectives. CAML's bid provides a compelling premium and certainty of value, but shareholders should remain alert for any competing proposals or developments.