An offer has been made and late-stage negotiations around the offer and associated documents are ongoing but are yet to be finalised.
Aeris said, broadly, the offer comprised $US525 million cash and US$50 million Aeris shares plus a royalty payable to Glencore.
Funding is not yet finalised but it proposed to be a combination of US$250-300 million debt, US$185-240 million equity, and a silver stream of between US$35-40 million.
No guarantee acquisition will proceed
Aeris noted that it is important to note that there is no guarantee that the potential acquisition will proceed.
Additionally, in the event that a formal agreement for the potential acquisition is entered into, it will likely be subject to a number of conditions including required shareholder approval.
Aeris is already a copper producer through its Tritton Copper Operation, also located in central-west New South Wales.
The company also has a number of brownfields and greenfields exploration projects that present significant growth opportunities such as the Torrens Exploration Project in South Australia.