Aeris pays down debts
PERTH (miningweekly.com) – ASX-listed Aeris Resources has made a $20-million dent in its debt, reducing its total debt to $29-million.
Executive chairperson Andre Labuschagne said that the $20-million debt repayment meant that the company had now reduced its debt by more than $100-million since the current management team started with Aeris at the beginning of 2013.
“Debt reduction has been a strategic objective for the company in that period and now we can focus on our core objective of growing Aeris into a mid-tier, multi-mine company.”
“Not only do we have a producing copper operation at Tritton, targeting 24 500 t of copper for 2019, but we also have an exciting portfolio of exploration projects, including Kurrajong and Torrens. Apart from our organic growth pipeline, we continue to assess merger and acquisition opportunities, with a strong preference for copper plays that are in or near production.”
The debt repayment was made with shareholder Special Portfolio Opportunity V (SPOV), a subsidiary of a fund managed by PAG. SPOV also supported a recent placement and non-renounceable entitlement offer by Aeris, taking up A$7-million of their entitlements while also sub-underwriting the retail component.
“2019 is shaping up to be an exciting year for Aeris,” Labuschagne said, noting that preparations have started for the start of drilling at the Torrens project, in South Australia.
“We will also accelerate exploration activities at the Tritton copper operation, including the next phase of drilling at the Karrajong prospect and an aerial electro magnetic programme on the northern half of our 1 800 km2 tenement package.”
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
As one of South Africa's leading manufacturers, Bell Equipment distributes and exports its wide range of heavy equipment globally to mining,...
VISIT SHOWROOM
From batteries for boats and jet skis, to batteries for cars and quad bikes, SABAT Batteries has positioned itself as the lifestyle battery of...
VISIT SHOWROOM
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
