Aeris Resources Ltd (ASX:AIS) has made further early debt repayments as its Cracow gold and Tritton copper operations continue to perform strongly in a period of healthy gold and copper prices.
The producer has paid the second quarterly repayment of A$7.7 million on the $30 million Acquisition Bridging Facility for Cracow, three weeks ahead of schedule.
A further US$2 million has also been voluntarily repaid under the US$ Tranche-B Facility.
Further reducing debt position
Executive chairman Andre Labuschagne said: “With both Cracow and Tritton performing to expectations and healthy copper and gold prices, we have taken the opportunity to further reduce our debt position ahead of the scheduled payment dates.”
Global investment bank Goldman Sachs (NYSE:GS) says copper’s bull run could continue well into 2022 and forecasts that the metal is likely to hit US$10,000/tonne for just the second time in history.
The copper price closed at US$7,741 on Friday last week and Goldman Sachs says there is now a clear pathway for it to hit five figures by the first half of 2022.
Additional success at Anomaly K
Aeris’ second drill hole at the Anomaly K target within the tenement package comprising the Tritton operations in western New South Wales has intersected a 3.4-metre zone of massive sulphides.
Drill hole TAKD002 was designed to test the second of two bedrock conductors at Anomaly K and intersected a massive sulphide zone from 61.2 metres down hole within strongly altered and partially weathered turbidite sediments.
Drilling has now confirmed that both EM conductors at Anomaly K represent sulphide bodies.