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Aeris Resources chairman discusses 'transformational' acquisition of Cracow gold mine

Aeris Resources Ltd's (ASX:AIS) executive chairman Andre Labuschagne speaks to Proactive's Andrew Scott after entering into a binding agreement with Evolution Mining Ltd (ASX:EVN) to acquire the Cracow Gold Mine in Queensland.

Aeris has agreed to pay Evolution $60 million in cash upon closing of the transaction, a deferred payment of $15 million on June 30, 2022 plus a 10% net value royalty from July 1, 2022 to June 30, 2027, capped at $50 million.

Completion of the transaction is expected to occur on June 30, 2020.

Quick facts: Aeris Resources Ltd

Price: 0.061 AUD

ASX:AIS
Market: ASX
Market Cap: $115.72 m
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