Aeris Resources completes $40 million drawdown of working capital facility

Australian copper-gold producer and explorer Aeris Resources (ASX:AIS) has completed a $40 million drawdown of a $50 million working capital facility provided by Washington H. Soul Pattinson (WHSP).

The conditions precedent to enable drawdown of funds have been completed and the $40 million has now been received.

Addressing the drawdown, Aeris Resources’ Executive Chairman Andre Labuschagne says the funding injection enables the company to progress with an orderly suspension of Jaguar and focus on delivery of our operational and growth targets across the business for FY24.

“Consultation processes with our people at Jaguar has commenced and our key aim now is to transition to care and maintenance in a safe and orderly manner.”

Aeris Resources is a mid-tier base and precious metals producer. Its copper-dominant portfolio comprises four operating assets, a long-life development project and a ‘highly prospective’ exploration portfolio, spanning Queensland, Western Australia, New South Wales and Victoria, with headquarters in Brisbane.

Aeris has a strong pipeline of organic growth projects, an aggressive exploration program and continues to investigate strategic merger and acquisitions opportunities.

Write to Adam Orlando at Mining.com.au

Images: Aeris Resources Ltd
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Written By Adam Orlando
Mining.com.au Managing Editor Adam Orlando has more than 20 years’ experience in the media having held senior roles at various publications, including as Asia-Pacific Sector Head (Mining) at global newswire Acuris (formerly Mergermarket). Adam has worked in newsrooms around the world including Hong Kong, Singapore, London, and Sydney.