Aeris Resources Ltd (ASX:AIS) has entered into unsecured Australian dollar gold hedges with Australia and New Zealand Banking Group (ASX:ANZ) Limited for 21,000 ounces at a forward price of A$2,538.54 per ounce.
These hedges will mature between November 2021 and October 2022 in scheduled monthly deliveries and represents approximately 30% of targeted production at its Cracow Gold Operations over the next 12 months.
The established Australian copper-gold producer and explorer has a growing portfolio of copper and gold operations, development projects and exploration prospects.
About Aeris
Aeris has a clear vision to become a mid-tier mining company with a focus on gold and base metals.
In FY22 Aeris is forecasting to produce between 21,000 and 22,000 tonnes of copper from its Tritton Copper Operations in New South Wales and between 67,000 and 71,000 ounces of gold from its Cracow Gold Operation in Queensland.
Just last week, resource definition exploration returned high-grade copper assays, underpinning Aeris’ view that Constellation, within its 100%-owned Tritton tenement package in NSW, is a significant copper deposit.
The company is undertaking work on its initial mineral resource estimate (MRE) focused on the shallow portion of the Constellation deposit, which is expected to be completed in the current quarter.