Company
ASX:AIS
Aeris Resources is a mid-tier base and precious metals producer. The company's copper dominant portfolio comprises two operating assets, a mine on care and maintenance, a long-life development project and a highly prospective exploration portfolio.
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The company has a growing portfolio of copper and gold operations, development projects and exploration prospects and has a clear vision to become a mid-tier mining company with a focus on gold and base metals.
The combined mineral resource estimate for the Yandan Gold Project and the Mt Coolon Gold Project now totals 28.2 million tonnes at 0.9 g/t gold for 852,000 ounces.
Assay results from the first two drill holes at the Constellation deposit confirm the EM plates are associated with high-grade copper sulphide mineralisation.
The company has a growing portfolio of copper and gold operations, development projects and exploration prospects with a clear vision to become a mid-tier mining company.
Although it is early in the geological understanding of the Constellation deposit, the company believes the textural/mineralogical repeatability and thick sulphide intervals 80 metres apart are very encouraging.
The company has a growing portfolio of copper and gold operations, development projects and exploration prospects with a clear vision to become a mid-tier mining company.
The company has a growing portfolio of copper and gold operations, development projects and exploration prospects with a clear vision to become a mid-tier mining company.
The drill hole into the second EM conductor at Anomaly K has intersected a 3.4- metre zone of massive sulphides.
The discovery of a significant sulphide intersection at Anomaly K validates the prospectivity within the underexplored northern half of the Tritton tenement package.
Aeris will be issued GBM shares to the value of A$3 million and will also subscribe for shares to the value of $1 million.
The established Australian copper and gold producer and explorer has received the approvals required to recommence on-ground exploration at the Torrens Exploration Project.
At the beginning of September, the company delivered its first quarterly repayment of A$7.5 million under its acquisition bridging facility a month ahead of schedule.
The strong performance from the company’s Cracow operations and high gold price has facilitated the early repayment.
Aeris is forecasting to produce between 70,000 and 75,000 ounces from its Cracow Gold Operations in the current financial year.
The company acquired the established, high-grade gold mine around 500 kilometres northwest of Brisbane, Queensland, on July 1, 2020.
This move follows the resignation of Standard Chartered Bank board nominee Marcus Derwin.
The company has secured hedging for 9,000 tonnes at a forward price of A$9,096.80 per tonne from its Tritton Copper Project.
The copper and gold producer has secured hedging for 36,000 ounces at a forward price of A$2,536.25 per ounce, for about 50% of its targeted gold production from Cracow.
FY2021 is shaping up to be an interesting year for Aeris after the transformational acquisition of Cracow Gold Operations in Queensland.
Cracow is an established, high-grade, low-cost gold mine 500 kilometres northwest of Brisbane in Queensland.
