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Peel Mining Limited (ASX:PEX)

ALERT: Price-sensitive ASX Announcement for PEX
Current share price for PEX : $0.160 0 (0%)+
Announcement
Release
12 Feb 2026 9:56AM
Price at Release
$0.160
Full Release
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Summary
Peel Mining Limited announced a landmark transaction involving the sale of its South Cobar Copper Project to Aeris Resources through a Scheme of Arrangement. This transformative $214 million transaction will deliver $0.234 per Peel share in total value, comprising Aeris shares and the proposed demerger of Peel’s remaining assets in the Cobar Basin into a new ASX-listed company, NewCo. Peel shareholders will receive 0.3363 Aeris shares and one NewCo share for every 4.6 Peel shares held. The transaction offers a substantial premium to Peel's share price and is expected to unlock synergies by utilizing Aeris' Tritton processing infrastructure. Peel's Board unanimously recommends the transaction, and it will result in Peel shareholders owning 20.5% of Aeris and full ownership of NewCo, focusing on further exploration and growth opportunities in base and precious metals.
Key Points
  • Sale of South Cobar Copper Project to Aeris Resources
  • Transaction valued at $214 million delivers $0.234 per Peel share
  • Peel shareholders to receive 0.3363 Aeris shares per Peel share
  • NewCo to be created for remaining Cobar Basin assets
  • Peel shareholders will own 20.5% of Aeris and 100% of NewCo
  • Significant synergies expected with Aeris' Tritton processing plant
  • Board of Peel recommends shareholders vote in favor of the transaction
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.