Aeris Resources Updates FY24 Production Guidance
Australian copper-gold producer and explorer Aeris Resources Limited has released an update on its FY24 production guidance, highlighting positive outcomes for its key mining operations.
Aeris reported that its Tritton copper operations achieved FY24 production of 19.7 kilotonnes (kt), with a robust performance in the June quarter contributing 5.4 kt. The Cracow gold operations produced a total of 45.9 thousand ounces (koz) of gold for the fiscal year, including 11.8 koz in the fourth quarter. Additionally, the Jaguar zinc operations met their FY24 production guidance.
At the Mt Colin mine, ore production exceeded plans by over 20%, although copper recovery (6.8 kt) was below guidance due to limited toll processing slots. By the end of June, ore stockpiles amounted to over 200 kt with a copper grade of over 2%, containing 4 kt of copper. The mine life at Mt Colin has been extended from May to October 2024, thanks to the overperformance of the “cave zone” and remnant stopes.
Financially, Aeris reported available cash of $24.8 million as of June 30, up from $19.4 million at the end of the March quarter. The company also had $10 million in restricted cash for environmental bonding. Positive metallurgical test results were reported for the Stockman project, and feasibility studies are progressing for the Barbara and Jaguar projects. Resource in-fill drilling commenced at the Constellation site during the June quarter.
Aeris’ Executive Chairman, Andre Labuschagne, commented, "Despite a challenging year for the Company, it was pleasing to end on a positive note with improved production at Tritton, and with Mt Colin and Cracow continuing to deliver. Mt Colin was originally planned to close in May, but thanks to the excellent work by the site and corporate technical teams, additional ore has been identified, extending production through to October 2024."
