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Aeris Resources Ltd

Aeris Resources upgrades copper production guidance for second time

The company had already upgraded forecast production in late April 2019.

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Aeris had cash and receivables of $23.9 million at the end of the March quarter

Aeris Resources Ltd (ASX:AIS) has upgraded its full year copper production guidance by 4% to a range of 26,450 to 26,650 tonnes from its Tritton Copper Operation in New South Wales.

The increase in production forecast is due to strong production performances at both the Tritton and Murrawombie underground mines and better copper grades. 

Production guidance was originally 24,500 tonnes before it was upgraded to 25,500 tonnes on 24 April 2019.

Notably, today’s upgrade represents an 8.3% increase on the original guidance.

Tritton tenement package

READ: Aeris Resources begins review of geological data from Torrens copper-gold anomaly

While the company is a copper producer through its Tritton operations, it also has a number of brownfields and greenfields exploration projects that present significant growth opportunities.

One such project is the Torrens Exploration Project in South Australia, which hosts a copper-gold anomaly with a footprint larger than Olympic Dam.

Aeris and its joint venture partner Argonaut Resources NL (ASX:ARE) commenced a high profile drill program at the Torrens anomaly in January 2019.

Quick facts: Aeris Resources Ltd

Price: $0.07

Market: ASX
Market Cap: $30.08 m
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'The shackles are off Torrens' as Argonaut Resources receives final approval...

Lindsay Owler, chief executive at Argonaut Resources NL (ASX:ARE), tells Proactive's Andrew Scott they've received the final approval required for a major drilling program at the Torrens project in South Australia. An application under section 23 of the Aboriginal Heritage Act 1988 has...

on 20/2/18

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