Central Asia Metals to acquire New World Resources for $185M

On May 21, 2025, New World Resources announced having entered a Scheme Implementation Deed with UK-based Central Asia Metals Plc.

  • New World Resources to be acquired by Central Asia Metals Plc for A$0.05 per share in cash, under Scheme Implementation Deed.
  • The deal values New World at approximately A$185 million, offering a 150% premium to its March 2025 capital raise and 95.7% to its 30-day VWAP.
  • The acquisition is structures as a scheme of arrangement and is not conditional on due diligence or financing, reflecting CAML’s confidence in the asset base.
  • CAML brings strong financial backing and underground mining expertise, aligning with New World’s development needs at the Antler Copper Project in Arizona.


New World Resources Limited (ASX: NWC) is a mineral exploration company focused on advancing its portfolio of copper and base metals projects in the United States, including the Antler Copper Project and Javelin VMS Project in Arizona and the Tererro Copper-Gold-Zinc Project in New Mexico. Headquartered in Subiaco, Western Australia, the company has been working toward developing high-quality, strategic resource assets with a strong presence in the North American base metals space. The company was founded on March 22, 2004, and is headquartered in Subiaco, Australia.

Key Developments

On May 21, 2025, New World Resources announced it had entered a Scheme Implementation Deed with UK-based Central Asia Metals Plc (LON: CAML) under which CAML will acquire all shares in New World for cash consideration of A$0.05 per share. This all-cash transaction values New World at approximately A$185 million, representing a 150% premium over its March 2025 capital raise price. The New World Board unanimously recommended the deal in the absence of a superior proposal and pending an independent expert’s approval. CAML, a well-capitalised base metals producer with existing operations across Europe and Central Asia, aims to integrate the Antler Copper Project with its strong operating and financing capacity.

Deal Structure

The scheme arrangement will see CAML acquire 100% of New World shares of A$0.05 per share in cash, reflecting a 95.7% premium to the 30-day VWAP and 150% over New World’s recent capital raise. The fully diluted equity valuation of A$185 million accounts for existing shares and those to be issued as part of an upcoming EGM. Importantly, the transaction does not require due diligence or financing conditions, signalling confidence from CAML’s side. It is subject to regulatory approvals in the US and North Macedonia, court and shareholder approval, and absence of material adverse changes. A Scheme Meeting is scheduled for August 2025, with implementation likely in September. CAML has also agreed to pay cash consideration to all shareholders and cancel options and performance rights under agreed terms.

Market Outlook

The acquisition is seen as a strategic win for New World shareholders, providing immediate value realisation in a volatile resources market. CAML’s strong financial standing and expertise in underground mining are expected to accelerate the development of the Antler Copper Project. For New World, this deal not only validates the quality of its copper assets but also avoids the prolonged uncertainties of standalone development and financing. As global demand for copper strengthens due to energy transition and electrification, the transaction placed the combined entity in a favourable long-term growth position.

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