Sandfire plays Auris options
PERTH (miningweekly.com) – Copper miner Sandfire Resources has exercised its 32.15-million options in fellow-listed Auris Minerals, priced at 8c each.
The options were issued to Sandfire as part of the up-front consideration in relation to the acquisition of an 80% interest in the Sams Creek gold project, in New Zealand, at the end of September this year.
Under the terms of that agreement, Auris acquired Sandfire’s wholly owned subsidiary Sams Creek Gold for an up-front consideration of 102.5-million new fully paid ordinary shares, priced at 8c each, for a total consideration of A$8.2-million.
Auris on Friday reported that with Sandfire’s exercise of its options, the company had now raised A$2.57-million, with Sandfire holding a 7.29% interest in the company.
Subject to the completion of the Sams Creek gold project, Sandfire will hold a 19.99% interest in Aurus.
“We are very pleased to welcome Sandfire on to the company’s register as a substantial shareholder. Following the recent completion of due diligence on the proposed acquisition of an 80% interest in the Sams Creek gold project and the existing ongoing relationship with Sandfire in joint venture on various tenements held in the Bryah basin, we look forward to further strengthening the partnership and working towards a rewarding outcome for all shareholders,” said Auris chairperson Neville Bassett.
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
