viewAeris Resources Ltd

Aeris Resources secures additional copper hedging for Tritton Copper Project in NSW

At the beginning of September, the company delivered its first quarterly repayment of A$7.5 million under its acquisition bridging facility a month ahead of schedule.

Aeris Resources Ltd - Aeris Resources enters into additional copper hedging for Tritton Copper Project in NSW
Aeris has a growing portfolio of copper and gold operations in NSW and QLD

Aeris Resources Ltd (ASX:AIS) has entered into further unsecured Australian Dollar copper hedges with Macquarie Bank Ltd for around 5,000 tonnes from the Tritton operations in NSW at a price of A$9,228 per tonne.

The hedges will cover the period February to July 2021 in scheduled monthly deliveries of 833 tonnes and this equates to around 40% of planned production during that period.

Higher copper prices for Tritton production

In July, Aeris locked in higher copper pricing by entering unsecured A$ copper hedges with Macquarie Bank for 9,000 tonnes also from Tritton at a forward price of A$9,096.80 per tonne.

The hedges will mature over the next six months in scheduled monthly deliveries of 1,500 tonnes.

At the time, Aeris executive chairman Andre Labuschagne said: “With the current copper price significantly above our budgeted pricing for the first half of FY2021, we have taken the opportunity to hedge 75% of our copper production over the next six months.

“Locking in this higher pricing enables us to accelerate exploration and life extension projects at the Tritton Copper Operations, with the first project being the exploration drive to the Budgerygar deposit, which sits adjacent to the Tritton underground mine.”

This copper hedging follows the company securing unsecured Australian Dollar gold hedges with Macquarie Bank for its recently acquired Cracow Gold Operations in Queensland.

Quick facts: Aeris Resources Ltd

Price: 0.066 AUD

Market: ASX
Market Cap: $125.2 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Aeris Resources Ltd named herein, including the promotion by the Company of Aeris Resources Ltd in any Content on the Site, the Company...


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