October 24, 2023
Aeris Resources Ltd. (ASX:AIS, Not Rated, Taylor Combaluzier) published its quarterly activities report for Q1/FY24 (quarter-ended Sep/23). The quarter ended with a cash balance of A$21.9M. Quarterly production decreased ~1.5% QoQ to 12.9kt CuEq at an AISC of A$5.44/lb CuEq (down 11%). As indicated by previously announced quarterly production results (read notable), production remains on track to meet annual guidance. At the Tritton operations, the Avoca Tank ore body demonstrated significantly higher grade than the current geological model and an updated MRE is expected in the coming weeks. Additionally, a Jameson cell was successfully installed and exploration to expand the resource at Constellation is also ongoing. The Jaguar Operations have transitioned to care and maintenance after a strong final quarter of production and the focus of exploration has shifted to brownfield exploration for gold targets in the broader tenement package. An interim FS for the Stockman project has been prepared and an update regarding progress on FS-related work is expected in Q2/FY24. We believe that Aeris is demonstrating its ability to meet stated guidance and we expect regular news flow on several fronts to help drive the stock price in the coming months. Read more
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Aeris Resources Ltd. – ASX:AIS
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