Latest news with #CAML
Associated Press
8 hours ago
- Business
- Associated Press
Kinterra Capital Submits Proposal to Acquire 100% of New World Resources
TORONTO and PERTH, Australia, June 22, 2025 /PRNewswire/ - Kinterra Capital GP Corp. II ('Kinterra'), in its capacity as general partner of the Kinterra Critical Materials & Infrastructure Opportunities Fund II, LP, confirms that it has submitted a non-binding, indicative proposal to acquire 100% of the shares in New World Resources Limited (ASX: NWC) ('New World' or the 'Company') for an all cash consideration of A$0.057 per share ('Kinterra Proposal'). The Kinterra Proposal is subject to a very short period of confirmatory due diligence, and to limited other conditions, including no regulatory conditions. Kinterra believes the Kinterra Proposal is in the best interest of New World shareholders and represents a Superior Proposal to the revised agreement entered into by New World and Central Asia Metals Plc (LON: CAML) on June 20, 2025. In addition, Kinterra currently has a 19.16% relevant interest in NWC shares, making it highly unlikely that the proposed CAML scheme will be successful. Kinterra looks forward to constructive engagement with the New World Board of Directors over an expedited timeline. About Kinterra Capital Kinterra Capital is a private equity firm that invests in the people, ideas, critical materials, and strategic infrastructure necessary to accelerate the development of the modern economy. Kinterra leverages significant domain specific technical and transactional expertise to source and manage investments that create value for its stakeholders, all while supporting the communities within which we operate through meaningful partnerships. At Kinterra, we focus on creative ideation, rigorous analysis and executing with excellence to make investments that will create sustainable, strong and secure supply chains. For more information about Kinterra Capital, please visit View original content to download multimedia: SOURCE Kinterra Capital Corp
Yahoo
22-05-2025
- Business
- Yahoo
CAML to acquire New World Resources for $118m
Central Asia Metals (CAML), a UK-incorporated base metals producer, has entered into a definitive scheme implementation deed with Australian miner New World Resources (NWR) to acquire the latter for approximately A$185m ($118.7m). The cash consideration of A$0.05 per share represents a significant premium, ranging from 78.6% to 150%, over various benchmarks including NWR's last closing price and volume-weighted average prices up to 20 May 2025. CAML will take full ownership of the Antler project, a high-grade copper deposit in Arizona, US, as part of the transaction. The project is expected to yield an average of around 30,000 tonnes per annum of payable copper equivalent throughout its 12-year operational life. NWR's most recent mineral resource estimate for the Antler project reported a total of 14.2 million tonnes with a copper equivalent grade of 3.8%. The transaction is contingent upon several conditions including regulatory approvals from the US and North Macedonia, an independent expert's endorsement and no material adverse changes to NWR's operations. Additionally, the scheme requires the approval of NWR shareholders and the Australian Court. CAML CEO Gavin Ferrar said: "The addition of this high-grade copper project in a tier-one jurisdiction will significantly strengthen our portfolio. We have been impressed by the strength of NWR's team and aim to work with them to integrate the Antler Project, complete the DFS [definitive feasibility study] and work towards a construction decision. 'In addition, the manageable capital expenditures of the Antler Project would provide us the opportunity to fund its development whilst ensuring we maintain a strong financial position." CAML plans to fund the acquisition through existing cash reserves and a new $120m (£89.45m) credit facility, with the transaction not subject to financing or due diligence conditions. The transaction is due to be implemented in September 2025, subject to the conditions of the scheme being satisfied or waived. NWR's Board has recommended the transaction, considering it the best outcome for shareholders compared with other proposals and the risks of independently developing the Antler copper project. The directors, holding approximately 2.56% of NWR shares, intend to vote in favour of the scheme, in line with the independent expert's ongoing approval. NWR managing director Nick Woolrych said: 'The Board decided to pursue this transaction despite receiving exceptionally strong interest from multiple Tier-1 project financiers and strategic partners, which reflects the quality of the Antler Copper Project and its inherent strategic value in the global copper landscape.' In February 2025, NWR received the US federal permit regarding the mine plan of operations application submitted for its Antler project. "CAML to acquire New World Resources for $118m" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
