Aeris completes first part of major capital raise
PERTH (miningweekly.com) – ASX-listed Aeris Resources has raised an initial A$74-million through a fully underwritten share placement and institutional entitlement offer.
The company last week announced plans to raise A$117-million in a share placement and a a 1-for-4.22 pro-rata, accelerated non-renounceable entitlement offer to fund the A$234-million acquisition of Found Oak Minerals from fellow listed Washington H. Soul Pattinson (WHSP).
Aeris on Monday noted that some A$43.9-million had been raised through the institutional placement, and a further A$30.1-million through the institutional entitlement offer, both of which had bene priced at 10.5c a share.
The company has also received a binding commitment for the raising of an additional A$17.1-million through a share placement, subject to shareholder approval.
Meanwhile, the retail component of the entitlement offer, which will open on May 5, is expected to raise an additional A$26-million. The retail component of the entitlement offer will close on May 17.
Round Oak owns a diverse portfolio of Australian copper and zinc assets, including the Jaguar zinc/copper underground mine, in Western Australia, the Mt Colin copper underground mine and the Barbara deposit, in Queensland, the Stockman copper/zinc development project in Victoria, and exploration tenements it the Mt Isa region of Queensland.
Under the terms of the agreement, Aeris will pay WHSP A$80-million in cash on the closing of the transaction, and would issue more than 1.46-billiono f its own shares, at a price of 10.5c each, or A$154-million.
The transaction would result in WHSP becoming Aeris’ largest shareholder at 30%., and would see WHSP chairperson Robert Millner join the Aeris board as a non-executive director.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Established on 1 March, 2000, by Barries Barnard, Advanced Fire Suppression Technologies (AFST) and the Advanced Group stands as Sub-Saharan...
VISIT SHOWROOM
Complete range of security sealing solutions including security seals bags and labels.
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
