Aeris Resources Limited (ASX: AIS), an established Australian copper-gold producer and explorer, has announced a binding agreement to sell its North Queensland copper assets to Dingo Minerals Pty Ltd. The agreement, executed through its subsidiaries Exco Resources Pty Ltd, Exco Resources (Qld) Pty Ltd and Round Oak Minerals Pty Ltd, involves the sale of all Aeris’ controlled tenements and real property in North Queensland. This transaction is subject to certain conditions, including ministerial approval for the transfer of the tenements.
The total consideration for the sale is up to $15.5 million. This includes the release of approximately $6.5 million in cash-backed environmental bonds. A cash payment of either $6 million, paid in two tranches, or $5 million paid in full on completion, will also form part of the deal. Additionally, there is a deferred cash payment of $3 million, which is payable within three months of Dingo Minerals achieving commercial production.
Aeris Resources’ Executive Chairman, Andre Labuschagne, stated that the sale is a positive step for the company and its shareholders. He noted that the transaction aligns with the company’s strategy to simplify its portfolio and focus on core assets. The proceeds from the sale will be used for debt repayment or investment into growth projects.
The transaction is expected to be completed in December 2025 and does not require shareholder approval. Treadstone Resource Partners acted as financial advisor and HopgoodGanim Lawyers acted as legal advisor to Aeris Resources for this transaction. Aeris Resources is a mid-tier base and precious metals producer. Its copper dominant portfolio comprises two operating assets, multiple development projects and a highly prospective exploration portfolio.
