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DIGGeRs & DeALeRs

Aeris hoping for second

Cracow spring

s we enter July, the Australian resources sector is usually preparing for its annual
Apilgrimage to Kalgoorlie-Boulder in Western Australia’s Eastern Goldfields for Diggers
& Dealers, the industry’s largest forum. Lockdown measures have forced to move the
conference from its traditional early August date to October 12-14. However, while the
event itself has been delayed, the drilling results, mining achievements and corporate
moves are still building. Paydirt has been an ever-present at the conference since its
earliest days and to fill the Diggers hole, we have decided to provide a bonus early preview
to the conference, showcasing the miners, the explorers, decision-makers and corporates
set to gain attention in the exhibition tent and Kalgoorlie pubs come October. We will
still run our full preview in the October edition but until then, we present the best of the
Australian resources sector and the diggers and deals who keep it bubbling over.

he Cracow gold mine was one of origi- will retain a 10% net value royalty capped ing its newly acquired Red Lake mine in
Tnal springboards for Evolution Mining at $50 million over five years. Canada.
Ltd’s rapid elevation a decade ago. Now, Cracow was part of the original Evolu- With Evolution’s portfolio now stocked
Aeris Resources Ltd executive chairman tion portfolio and its consistent 80-100,000 with much larger assets – Red Lake alone
Andre Labuschagne is hoping it can per- ozpa performance provided the company produces more than 200,000 ozpa –
form a similar function at his company. with some of the certainty and balance Cracow was no longer an appropriate fit
Aeris will pay Evolution $50 million up- sheet strength it needed to embark on for the company, according to executive
front and an additional $15 million in June its ambitious acquisition trail. Those ef- chairman Jake Klein.
2022 for Cracow, 500km north-west of forts has Evolution guiding production of “It was getting shorter mine life, we
Brisbane, Queensland, while the vendor 725,000 ozpa gold for FY2020, exclud- hadn’t been able to replace reserves over

Page 26 JULY 2020 aUSTRaLIa’S PaYDIRT