Central Asia Metals plc today bought more shares in its planned acquisition New World Resources Ltd and again increased its offer for the remainder.
RIVAL
The company acquired a total of 253,018,511 shares in NWR via off-market trades, representing approximately 7.1% of its issued capital, at $0.062 per NWR share.
Central also proposes to increase for the third time its cash offer from A$0.055 to A$0.062 per NWR share, valuing NWR at approximately A$230 million.
The shares purchase adds to that on 20 June when Central bought 178,800,056 NWR shares.
Today’s move follows a separate offer on 24 June from Kinterra Capital GP Corp. to buy all of the shares in NWR that it does not own for A$0.057 per share also via an off-market takeover offer.
NWR holds the Antler copper project in Arizona, the 4,000-acre Javelin project near Antler and the Tererro copper-gold-zinc project in northern New Mexico.
Central’s producing and exploration assets are in Kazakhstan, North Macedonia and Scotland.