Aeris Resources has told the ASX it has yet to reach a deal with Glencore over the purchase CSA underground copper mine in western New South Wales.
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In March the two companies were in late stage negotiations around Aeris' US $600m offer of the Cobar mine but now Aeris merely says discussions are continuing. "No concluded agreement has yet been reached on the transaction, nor on the funding structure," Aeris said. "There is no guarantee that the potential acquisition will proceed."
Aeris said that in the event that a formal agreement for the potential acquisition is entered into, it will likely be subject to a number of conditions including required shareholder approval.
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Derek Barry
Editor of the North West Star Mount Isa since January 2016. Prior to that, an editor at several regional southern Queensland newspapers. Passionate about telling local stories. Comes with a strange accent to due an Irish accident of birth.
Editor of the North West Star Mount Isa since January 2016. Prior to that, an editor at several regional southern Queensland newspapers. Passionate about telling local stories. Comes with a strange accent to due an Irish accident of birth.
