AIS to Acquire South Cobar Copper Project and Enable Spin-Out of New Cobar Explorer
Aeris Resources Limited (ASX: AIS) has agreed to acquire Peel Mining’s South Cobar Copper Project through a Scheme of Arrangement, alongside a proposed demerger that will establish a newly listed precious and base metals exploration company holding Peel’s remaining Cobar Basin assets.
Under the proposed structure, Aeris will acquire 100% of Peel’s issued shares, securing ownership of the Mallee Bull and Wirlong copper deposits. In parallel, Peel’s other Cobar Basin assets — including the Southern Nights Complex, joint venture interests and cash — will be transferred into a newly formed entity (NewCo) and distributed directly to Peel shareholders via an in-specie distribution.
Based on the offer terms, Peel’s fully diluted equity value is approximately AU$214 million, reflecting a 49.1 per cent premium to its one-month VWAP and a 174.8 per cent uplift to its September 2025 raising price. Peel shareholders are expected to receive total consideration valued at AU$0.234 per share, comprising 0.3363 Aeris shares per Peel share (valued at approximately AU$0.19 per share) and an indicative entitlement of one NewCo share for every 4.6 Peel shares held (valued at approximately AU$0.044 per Peel share).
On completion, Peel shareholders will collectively hold approximately 20.5% of Aeris while retaining full ownership of NewCo. By leveraging Aeris’ established Tritton processing facilities and operating capabilities, the transaction is expected to accelerate progress at the South Cobar Copper Project.
NewCo is expected to focus on advancing Peel’s remaining exploration portfolio across the Cobar Basin and is anticipated to seek ASX listing. To support this pathway, Peel has entered into an underwriting agreement for a minimum AU$4 million IPO at an indicative issue price of AU$0.20 per NewCo share.
The Peel Board has unanimously endorsed the proposal and recommends shareholders support it. Perth Capital Pty Ltd and its associates, representing around 16.1 per cent of Peel’s issued capital, have also confirmed their intention to back the transaction.
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AIS to Acquire South Cobar Copper Project and Enable Spin-Out of New Cobar Explorer
Aeris Resources Limited (ASX: AIS) has agreed to acquire Peel Mining’s South Cobar Copper Project through a Scheme of Arrangement, alongside a proposed demerger that will establish a newly listed precious and base metals exploration company holding Peel’s remaining Cobar Basin assets.
Under the proposed structure, Aeris will acquire 100% of Peel’s issued shares, securing ownership of the Mallee Bull and Wirlong copper deposits. In parallel, Peel’s other Cobar Basin assets — including the Southern Nights Complex, joint venture interests and cash — will be transferred into a newly formed entity (NewCo) and distributed directly to Peel shareholders via an in-specie distribution.
Based on the offer terms, Peel’s fully diluted equity value is approximately AU$214 million, reflecting a 49.1 per cent premium to its one-month VWAP and a 174.8 per cent uplift to its September 2025 raising price. Peel shareholders are expected to receive total consideration valued at AU$0.234 per share, comprising 0.3363 Aeris shares per Peel share (valued at approximately AU$0.19 per share) and an indicative entitlement of one NewCo share for every 4.6 Peel shares held (valued at approximately AU$0.044 per Peel share).
On completion, Peel shareholders will collectively hold approximately 20.5% of Aeris while retaining full ownership of NewCo. By leveraging Aeris’ established Tritton processing facilities and operating capabilities, the transaction is expected to accelerate progress at the South Cobar Copper Project.
NewCo is expected to focus on advancing Peel’s remaining exploration portfolio across the Cobar Basin and is anticipated to seek ASX listing. To support this pathway, Peel has entered into an underwriting agreement for a minimum AU$4 million IPO at an indicative issue price of AU$0.20 per NewCo share.
The Peel Board has unanimously endorsed the proposal and recommends shareholders support it. Perth Capital Pty Ltd and its associates, representing around 16.1 per cent of Peel’s issued capital, have also confirmed their intention to back the transaction.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au