Corrs advises on Central Asia Metals acquisition

Australia’s leading independent law firm, Corrs Chambers Westgarth, is advising Central Asia Metals PLC (AIM:CAML), a UK-incorporated AIM-listed base metals producer, on its A$232 million proposed acquisition of 100% of the issued shares in Cygnus Metals Limited (ASX:CY5) (Cygnus) by way of an Australian Court-approved scheme of arrangement. The acquisition will add a 100% interest in the Chibougamau Copper-Gold Project in Québec, Canada, a high-grade, development-stage asset. CAML’s strong balance sheet and expertise in underground mining and processing provide a clear pathway to advance the project through feasibility and into development. The transaction represents a transformative step for CAML, adding a flagship copper-gold asset in a tier-one mining jurisdiction to complement its existing portfolio of producing, cash-generative operations across North Macedonia and Kazakhstan.

The all-scrip structure delivers immediate value to Cygnus shareholders while preserving exposure to the Chibougamau Project, with the scheme supported by shareholders holding approximately 29% of issued capital. The cross-border transaction spans the United Kingdom, Australia, Canada, Kazakhstan and North Macedonia, involving regulatory approvals across multiple jurisdictions. The transaction is being led by corporate partner Christian Owen, drawing on expertise from Corrs’ corporate, energy and natural resources, competition, regulatory, real estate, tax, litigation, and employment, labour and safety practices.

Commenting on the matter, Christian Owen said “We are delighted to be advising CAML on this transformative acquisition, which adds a high-grade copper-gold development asset in a tier-one jurisdiction to its portfolio of producing operations. This transaction reinforces Corrs’ position as a leading adviser on complex cross-border public M&A in the Australian resources sector, particularly for international acquirers pursuing scheme of arrangement structures.”