Aeris adds gold to copper with $125m Cracow buy

Original article by Brad Thompson
The Australian Financial Review – Page: 24 : 5-Jun-20

Copper miner Aeris Resources has confirmed a $125 million deal to acquire Evolution Mining’s Cracow gold mine in Queensland. The Cracow mine is forecast to produce between 70,000 and 75,000 ounces of gold in fiscal 2021, while Aeris predicts that Cracow will yield net mine free cash flow of more than $100 million over the first two years of its ownership at the current price of gold. Aeris executive chairman Andre Labuschagne has described the deal as "transformational" for the company. Evolution’s executive chairman Jake Klein says it has no plans to sell other gold mines.

CORPORATES
AERIS RESOURCES LIMITED – ASX AIS, EVOLUTION MINING LIMITED – ASX EVN

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