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

EMR plots production boost

Original article by Peter Ker
The Australian Financial Review – Page: 18 : 16-Jan-20

A consortium headed by private equity firm EMR Capital has acquired the Ravenswood gold mine in Queensland from Resolute Mining. Production costs at Ravenswood averaged more than $2,000 an ounce in the first half of 2019; gold is currently trading at around $2,200 an ounce in Australian dollar terms, and around $US1,551 an ounce. EMR Capital is confident that plans to increase production will enable the mine to remain profitable even if the gold price falls below $US1,300 an ounce.

CORPORATES
RESOLUTE MINING LIMITED – ASX RSG, EMR CAPITAL PTY LTD

Evolution strikes glittering $880m deal with Glencore

Original article by Paul Garvey, Gretchen Friemann
The Australian – Page: 19 & 23 : 25-Aug-16

Australian-listed Evolution Mining will fund an $A880m deal to acquire an economic interest in Glencore’s Ernest Henry mine in Queensland via a $A401m equity ­raising and debt. Evolution will acquire all future gold production at the mine, whose annual output is about 80,000 to 850,000 ounces per year, plus 30 per cent of future copper output. Ernest Henry is expected to have a remaining mine life of about 11 years. Evolution will also undertake further exploration at the mine.

CORPORATES
EVOLUTION MINING LIMITED – ASX EVN, GLENCORE PLC, BT INVESTMENT MANAGEMENT LIMITED – ASX BTT, MINJAR GOLD PTY LTD