Total
0
Shares
MRG to begin HMS drilling following $661,500 equity raise
Market Herald logo

Find out more about this capital raise

Be the first with the news that moves the market
  • 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.

AIS by the numbers
More From The Market Herald
Leigh Creek Energy (ASX:LCK) - Managing Director, Phil Staveley (left) - The Market Herald

" Leigh Creek Energy (ASX:LCK) enters trading halt to plan capital raise

Leigh Creek Energy (LCK) has entered a trading halt ahead of a proposed capital raising.
Vango Mining (ASX:VAN) - Chairman, Bruce McInnes - The Market Herald

" Vango Mining (ASX:VAN) looks for fresh capital ahead of drill campaign

Vango Mining (VAN) has entered a trading halt while it plans to raise some capital.
The Market Herald Video

" Lumos Diagnostics (ASX:LDX) prepares for $63M IPO

Shares in Lumos Diagnostics (LDX) will begin trading on the ASX in July following the completion of an IPO that’s expected to raise
Canyon Resources (ASX:CAY) to raise $10M for Minim Martap

" Oar Resources (ASX:OAR) ends week in trading halt

Oar Resources (OAR) has ended the week in a trading halt, while it plans the details of an upcoming capital raising.