Kinterra Capital GP Corp. II, acting as the general partner of the Kinterra Critical Materials & Infrastructure Opportunities Fund II, has put forward a non-binding proposal to acquire New World Resources for A$0.057 ($0.036) per share in cash.
This development follows New World Resources’ previous revised agreement with Central Asia Metals on 20 June 2025.
New World Resources, an Australian firm with a focus on mineral resource exploration in North America, oversees multiple projects, including the Antler Copper Project in Arizona. The project features a rich polymetallic deposit with extensive drilling already undertaken.
Other ventures include the Javelin VMS Project in Arizona and the Tererro Copper-Gold-Zinc VMS Project in New Mexico.
Kinterra’s proposal is contingent on a brief due diligence period and other minor conditions but does not include regulatory prerequisites. Kinterra currently holds a 19.16% interest in New World Resources, which challenges the likelihood of the CAML scheme proceeding successfully.
New World Resources has acknowledged the proposal from Kinterra but indicated its non-binding and conditional nature, with no certainty of it leading to a binding agreement. The company’s board and advisers are reviewing the offer, and shareholders have been advised that no immediate action is required from them.
Last week, New World Resources received an improved offer from CAML, raising the cash consideration under their scheme implementation deed from A$0.05 ($0.032) to A$0.053 ($0.034) per share. This enhanced offer now values New World Resources’ equity at approximately A$197m ($125.8m).
The CAML proposal requires various approvals, including shareholder approval at the scheme meeting, along with regulatory consents from US and North Macedonian authorities, among other conditions.
