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Peel Mining Limited (ASX:PEX)

ALERT: Price-sensitive ASX Announcement for PEX
Current share price for PEX : $0.160 -0.005 (-3.03%)+
Announcement
Release
19 Jun 2026 11:01AM
Price at Release
$0.165
Full Release
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Summary
Aeris Resources Limited announced that the Supreme Court of New South Wales approved the scheme of arrangement for Aeris to acquire 100% of the shares of Peel Mining Limited. The scheme is set to become effective on 22 June 2026, with implementation on 1 July 2026. This acquisition includes the South Cobar Copper Project composed of the Mallee Bull and Wirlong Projects, which significantly increases Aeris' resource base in the Cobar region. The acquisition is seen as a strategic move to enhance the Tritton Copper Operations by adding high-grade ore sources and improving long-term production rates. Aeris is also working on completing a maiden Ore Reserve estimate and advancing permitting and feasibility studies related to the Mallee Bull project, with plans to complete permitting by FY29.
Key Points
  • Court approval for scheme of arrangement between Aeris Resources and Peel Mining
  • Aeris to acquire 100% of Peel Mining shares
  • Scheme effective from 22 June 2026, implementation on 1 July 2026
  • Acquisition includes South Cobar Copper Project
  • Strategic addition to Tritton operations
  • Mallee Bull and Wirlong Projects to significantly increase resource base
  • Plans for maiden Ore Reserve estimate for Mallee Bull
  • Permitting and feasibility studies for Mallee Bull advancing
  • Permitting expected to complete by FY29
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.