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Aeris Resources Ltd

Aeris Resources continues discussions with Glencore on possible CSA mine purchase

An offer has been made and late-stage negotiations around the offer and associated documents are ongoing but are yet to be finalised.

Acquisition jigsaw puzzle
The CSA mine near Cobar was closed in 1997-1998 before Glencore reopened it in 1999

Aeris Resources Ltd (ASX:AIS) is continuing discussions with Glencore PLC (LON:GLEN) over the possible acquisition of the CSA underground copper mine in western New South Wales.

In an announcement today the company stated that no concluded agreement had been reached on the transaction or on the funding structure.

It was previously stated that the possible acquisition is valued at $800 million.

READ: Aeris Resources mulls $800 million CSA mine acquisition from Glencore

In the statement, Aeris said that there was no guarantee that the potential acquisition would proceed, however, in the event that a formal agreement for the potential acquisition was entered into, it would be subject to a number of conditions including required shareholder approval.

"The company will update the market if and when any formal agreement is entered into in relation to the proposed acquisition."


 

 

 

Quick facts: Aeris Resources Ltd

Price: $0.07

Market: ASX
Market Cap: $32.36 m
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