- Mining and exploration company Aeris Resources (AIS) enters a trading halt to allow it time to plan a capital raise
- The company placed its shares in a halt before the market opened on Thursday, with the halt due to expire on June 15
- Along with the planned capital raise, AIS also announced on Thursday it has made a $20.5 million debt payment
- Additionally, the company revealed it has extended the copper mineralisation at its Constellation deposit in NSW
- Aeris Resources’ shares last traded at 20.5 cents each.
Mining and exploration company Aeris Resources (AIS) has entered a trading halt to allow it time to plan a capital raise.
The company placed its shares in a trading halt before the market opened on Thursday, with the halt due to expire on Tuesday, June 15.
AIS also announced on Thursday it had made a $20.5 million payment as part of its ongoing debt repayment obligations.
The company made the payment from its cash reserves, with an additional US$20 million (A$25.85 million) still owed.
“FY21 has been an exceptional year for Aeris, including our steps taken to continue to de-lever the balance sheet,” Executive Chairman Andre Labuschagne said.
“We have now repaid $48 million since July 1, 2020, and will finish this
financial year with remaining debt of US$20 million.
“Resetting the business over the last 12 months now allows us to focus on extending the mine lives at both operations by progressing projects in our development pipeline and continuing to aggressively explore.”
Along with the financial updates, the company also announced this morning it had extended the copper mineralisation at its Constellation deposit.
Aeris Resources’ shares last traded at 20.5 cents each on June 9.