Aeris Resources Ltd (ASX:AIS, OTC:ARSRF) has completed the conditions precedent to drawdown funds from a $50 million Working Capital Facility provided by Washington H Soul Pattinson. A drawdown of $40 million has been received.
“This funding injection enables us to progress with an orderly suspension of Jaguar and focus on delivery of our operational and growth targets across the business for FY24,” Aeris’ chairman Andre Labuschagne said.
“Consultation processes with our people at Jaguar have commenced and our key aim now is to transition to care and maintenance in a safe and orderly manner.”