Aeris Ltd (ASX:AIS) has further reduced its debt level by paying the Tranche C third quarterly instalment of $7.5 million under its Acquisition Bridging Facility two weeks ahead of the scheduled date.
Additionally, a further US$2.5 million has been voluntarily repaid off the US$ Tranche B Facility.
“Exciting new phase”
Executive chairman Andre Labuschangne said: “The strong cashflow generated from Cracow and Tritton over the last eight months has enabled us to reduce debt levels ahead of schedule.
“Since completing the Cracow acquisition on July 1, 2020, around A$28 million in debt has been paid down.
“With a strengthened balance sheet, a pipeline of development projects and exploration upside at both operations, we are moving into an exciting new phase for the company.”
Director on-market purchases
Aeris non-executive directors Colin Moorhead and Alastair Morrison have recently demonstrated their faith in the company’s copper-gold strategy with the purchase of shares in on-market transactions.
On March 11, Moorhead acquired 500,000 shares at a total value of $57,450 in an indirect interest, marking his first purchase in the company.
Morrison acquired 528,500 shares on March 11 with a total value of $55,000 in an indirect interest, increasing the total number of securities held in that interest to more than 1.02 million.