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Central Asia Metals PLC raised its bid for New World Resources Ltd twice in one day on Friday, its third offer in total, after buying around 5% of New World shares. Central Asia Metals, a London-based mining firm focused on Kazakhstan and Macedonia, increased its offer for ASX-listed New World Resources to A$0.055 per share from the A$0.053 revised bid announced earlier on Friday, which had valued New World at A$197 million, or £94.8 million. CAM’s original offer was for A$0.050, worth £88.8 million. This comes after CAM reported its purchase on Friday of about 178.8 million New World shares at A$0.055 each, which equates to 5% of New World equity. This is an increase from the A$0.053 price CAM indicated earlier on Friday, when the firm shared plans to fundraise for New World via a share placement. CAM and New World agreed to a proposed takeover structure, in which CAM will make an off-market takeover offer in parallel with the scheme. This still stands, though the price has also increased to A$0.055 per share from the previous A$0.053. Further documentation formalising the price rise will be released after the firms have executed a deed of variation, CAM said. CAM shares were up 0.6%to 158.20 pence on Friday morning in London, giving it a £287.9 million market capitalisation. New World closed up 7.7% at A$0.056 on Friday in Sydney for a A$208.1 million market cap. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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