Australia's New World Resources hits 28-month peak on higher takeover offer

New World Resources

20/06/2025 02:17

** Shares of New World Resources NWC.AX rise 7.7% to A$0.056, their highest levels since February 14, 2023

** The mineral explorer posts its biggest intraday pct gain since June 12

** Co gets increased A$0.053 per share takeover offer from Central Asia Metals, valuing it at A$197 million ($127.73 million)

** Says Central Asia Metals has agreed to an A$10.0 million through a placement of new shares in New World at A$0.053 per share

** Stock up ~205% this year, including the day's move

($1 = 1.5423 Australian dollars)

 (Reporting by John Biju in Bengaluru)

 ((John.Biju@thomsonreuters.com;))