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LONDON - Central Asia Metals PLC (AIM:CAML) has increased its cash offer for Australian mining company New World Resources Limited (ASX:NWC) to A$0.065 per share from the previous A$0.062, valuing the target company at approximately A$240 million.
The improved offer was announced Thursday as part of a deed of variation to the bid implementation agreement between the companies dated May 21, 2025. Central Asia Metals has also declared its offer unconditional, according to a company statement.
The London-based base metals producer has commenced dispatching its bidder’s statement, with the offer now open for acceptance until August 18, 2025, unless extended.
Following Central Asia Metals’ announcement of the increased offer price, competitor Kinterra raised its own bid for New World Resources to A$0.066 per share, setting up a potential bidding war for the Australian mining company.
Central Asia Metals, which has been listed on the London Stock Exchange (LON:LSEG) since 2010, currently has a market capitalization of approximately US$347 million. The company operates the Sasa underground zinc-lead mine in North Macedonia and the Kounrad SX-EW copper project in Kazakhstan.
BMO Capital Markets is acting as lead financial adviser to Central Asia Metals on the transaction, with Canaccord Genuity also providing financial advice.
The information is based on a press release statement from Central Asia Metals.
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