Proposed acquisition of Cygnus Metals Limited for A$232 million
Central Asia Metals Plc (AIM: CAML) and Cygnus Metals Limited are pleased to announce that they have entered into a definitive Scheme Implementation Deed under which CAML has agreed to acquire 100% of the fully paid ordinary shares in Cygnus.
Transaction highlights:
- CAML to acquire Cygnus Metals Limited via Australian scheme of arrangement, offering 0.06 New CAML Shares per Cygnus share, implying an equity value of Cygnus of ~A$232 million
- Transaction adds the Chibougamau Project in Quebec, Canada, a flagship high-grade copper-gold development asset in a high-quality jurisdiction, to CAML’s portfolio of producing operations
- Transaction enhances scale, commodity and geographic diversification of CAML, combining cash-generative assets and long-term exploration potential with a near-term development growth pipeline
- CAML’s strong balance sheet provides a clear funding pathway to advance the Chibougamau Project, and to de-risk its development, supported by CAML’s technical capabilities as a proven operator
- All-script transaction delivers premium for Cygnus shareholders while retaining upside exposure to the Chibougamau Project
- Major shareholders of Cygnus, which together currently own and/or control in aggregate approximately 29% of Cygnus Shares on issue have confirmed their intention to vote their respective Cygnus shares in favour of the scheme at the Scheme meeting subject to the qualifications referenced in the announcement.
Further details of the proposed transaction can be found via the links below:
| File Name | View |
|---|---|
| Proposed Acquisition of Cygnus Metals Limited for A$232 million RNS | Download |
| Proposed Acquisition of Cygnus Metals Limited Investor Presentation | Download |
| Recorded Announcement BRR Analyst Webcast | Watch |
| 2026 Kounrad JORC Report | Download |
| 2026 Sasa JORC Report | Download |
| Availability of the Scheme Booklet and Circular | Download |
| Scheme Booklet – ASX | Download |
| Central Asia Metals Circular | Download |
| 2026 Sasa NI 43-101 Technical Report | Download |
| 2026 Kounrad NI 43-101 Technical Report | Download |
| Authorisation granted to allot New CAML Shares for the acquisition of Cygnus Metals RNS | Download |
| Conditional Approval of TSX Listing | Download |
| Update regarding the Scheme of Arrangement | Download |
| Result of the Cygnus Scheme Meeting | Download |
| Further Update Regarding the Scheme of Arrangement | Download |
| Adjournment of the Second Court Hearing | Download |