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Aeris Resources beats fiscal 2020 copper production guidance; adds gold for 2021

FY2021 is shaping up to be an interesting year for Aeris after the transformational acquisition of Cracow Gold Operations in Queensland.

Aeris Resources Ltd - Aeris Resources beats fiscal 2020 copper production guidance; adds gold for 2021
Gold production guidance of 70,000 – 75,000 ounces in FY2021

Aeris Resources Ltd (ASX:AIS) has achieved copper production of 25,041 tonnes at the Tritton Copper Operations for financial year 2019-20 (FY2020), about 2% above the upper limit of the previously announced guidance of 23,500 to 24,500 tonnes.

Aeris executive chairman Andre Labuschagne said: “This is a fantastic result, particularly when one considers that the Tritton Copper Operations were materially impacted by water availability and water quality issues during the summer months.

“Once again the Tritton team has shown what can be achieved when we are all working towards a common goal.

“FY2021 is shaping up to be an exciting year for the company.

“Along with Tritton, we now have ownership of the Cracow Gold Operations, the demand fundamentals for our primary commodities, copper and gold, are looking strong and we have exciting brownfields and greenfields exploration opportunities at both of our operations.”

Cracow Gold Operations

The Cracow Gold Operations is an established, high-grade gold mine around 500 kilometres northwest of Brisbane, Queensland.

The mine has been operating continuously since 2004, producing more than 1.4 million ounces over its life with a consistent track record of profitability and ore reserve replenishment.

Copper and gold production guidance

Aeris has revealed its production guidance for FY2021:

  • Copper production at the Tritton Copper Operations is 23,500 to 24,500 tonnes at a C1 cash cost of $2.80/pound to $2.95/ pound; and
  • Gold production guidance at the Cracow Gold Operations is 70,000 – 75,000 ounces at a C1 cash cost of $980/ounce.

Quick facts: Aeris Resources Ltd

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ASX:AIS
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Market Cap: $101.16 m
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Aeris Resources chairman discusses 'transformational' acquisition of Cracow...

Aeris Resources Ltd's (ASX:AIS) executive chairman Andre Labuschagne speaks to Proactive's Andrew Scott after entering into a binding agreement with Evolution Mining Ltd (ASX:EVN) to acquire the Cracow Gold Mine in Queensland. Aeris has agreed to pay Evolution $60 million in cash upon closing...

on 8/6/20

2 min read