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Aeris Resources completes sale of Yandan Gold Project to GBM Resources for $3 million in shares and NSR

Aeris will receive $3 million in GBM shares and a 1.5% NSR on the first 300,000 ounces of gold equivalent mined from the Yandan tenements.

Aeris Resources Ltd -
Following the issue of the shares, Aeris will hold around 29.6 million shares in GBM, a shareholding of 6.85%

Aeris Resources Ltd (ASX:AIS) has completed the sale of the Yandan Gold Exploration Project to GBM Resources Limited (ASX:GBZ) (FRA:36G).

As consideration for the sale of Yandan, Aeris will receive $3 million in GBM shares at $0.135 per share and a 1.5% Net Smelter Royalty (NSR) on the first 300,000 ounces of gold equivalent mined from the Yandan tenements.

Maintain exposure to Drummond Basin

Aeris executive chairman, Andre Labuschagne said: “Taking an equity position in GBM in exchange for Yandan enables Aeris to maintain an exposure to the highly prospective Drummond Basin while we concentrate on our core producing assets.”

To hold 6.85% in GBM

The company has also subscribed for a placement of $1 million worth of shares in GBM at $0.135 per share.

Following the issue of the shares, Aeris, a copper and gold producer, will hold around 29.6 million shares in GBM, a shareholding of 6.85%.

Quick facts: Aeris Resources Ltd

Price: 0.099 AUD

ASX:AIS
Market: ASX
Market Cap: $187.8 m
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