London-based Central Asia Metals has struck an $185 million agreement to buy ASX company New World Resources, led by Perth-based chairman Richard Hill.
Shares in New World Resources dipped by 14 per cent on Tuesday morning, following news that the Subiaco-based company will raise $20.4 million to advance its Antler copper project in the American state of Arizona.
Subiaco-based New World Resources has secured $11 million from a UK mining royalty and streaming company, to fund its Antler Copper project in Arizona, US.
Subiaco-based New World Resources has secured $10 million from a share placement to fast-track a drilling program at the company's high-grade copper project in the US.
Ian Veitch has resigned as company secretary at Orbital Corporation. Todd Alder has been appointed chief financial officer and company secretary, and is responsible for communications with AS
