Capricorn Metals (ASX:CMM), and Warriedar Resources (ASX:WA8) said that Capricorn increased the consideration payable under the proposed scheme of arrangement to acquire Warriedar, according to a Tuesday filing with the Australian bourse.

The new consideration will see Warriedar shareholders receive one new Capricorn share for every 52.75 shares held from the earlier consideration of one new share for every 62 shares held, the filing said.

The implied value of the revised share scheme consideration is AU$0.26 per Warriedar share, representing a 24% premium to the mining firm's closing price on Oct. 6, the filing added.

Warriedar's board also unanimously recommended the scheme, in the absence of a superior proposal and an independent expert concluding that the deal is in the best interests of the Warriedar shareholders, the company said.

The major shareholders of Warriedar, representing around 9.15% stake, confirmed their intention to vote their shares in favor of the scheme, per the filing.

Shares of Capricorn Metals fell past 2% in recent Tuesday trade, while shares of Warriedar Resources rose past 15% and earlier hit a 52-week high.