en.Wedoany.com Reported - Aeris Resources has further consolidated its copper mine business footprint in the Cobar region through the acquisition of Peel Mining. This follows Peel shareholders voting overwhelmingly in favor of a proposed scheme of arrangement, under which Aeris will acquire 100% of Peel's shares.

Peel shareholders voted in favor of the scheme, as well as the demerger of Spectre Metals from Peel through a capital reduction and pro-rata in-specie distribution of Spectre shares. The scheme received 99.99% support from Peel shareholders present and voting, with 99.99% also voting in favor. The demerger resolution also received 99.99% approval from votes cast.

The transaction remains subject to approval by the Supreme Court of New South Wales at a hearing scheduled for June 19, as well as the satisfaction or waiver of other conditions set out in the scheme booklet released on May 5. If court approval is granted, the relevant orders will be lodged with the Australian Securities and Investments Commission, at which point the scheme will become effective. The scheme and demerger are conditional upon each other, meaning the demerger of Spectre will only proceed once the Aeris acquisition takes effect.

Peel is an advanced base and precious metals exploration company primarily focused on copper. Its key assets include the South Cobar project, located approximately 100 kilometers south of Cobar in New South Wales, and the Curnamona project in the Broken Hill region. Peel has been exploring the southern Cobar Basin since 2010 and discovered three deposits within seven years. The company is currently advancing development and environmental studies for South Cobar, with a proposed processing hub expected to support future project development.

For Aeris, which owns and operates the Tritton copper mine near Nyngan and Cobar, this acquisition will further strengthen its position in one of Australia's most prospective copper regions.

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