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Aeris starts debt repayment

1st September 2020

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – The high gold price has allowed copper and gold producer Aeris Resources to make its first quarterly repayment on its A$30-million acquisition bridging facility ahead of schedule.

The company on Tuesday said that the quarterly repayment of A$7.5-million has been made one month ahead of schedule.

“The high gold price and strong performance at the Cracow gold operation has provided the opportunity to make the first repayment on the acquisition bridging facility a month early,” said Aeris executive chairperson Andre Labuschagne.

“Operational delivery, mine life extensions and debt reductions are our priorities for 2021. Strong cash flow in the first two months of our ownership of Cracow has enabled this early debt repayment, while still maintaining financial flexibility to continue investing in our operations.”

Aeris at the start of July completed its A$125-million deal with gold miner Evolution Mining to acquire the Cracow mine, which is expected to produce between 70 000 oz and 75 000 oz of gold at a C1 cash cost of A$980/oz, in 2021.

Edited by Creamer Media Reporter

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