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Aeris meets 2021 targets

19th July 2021

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – Copper/gold miner Aeris Resources has achieved its production targets for 2021.

The miner on Monday told shareholders that gold production at its Cracow mine reached 73 685 oz, at an all-in sustaining cost (AISC) of A$1 483/oz for the 2021 financial year, which was within the guidance of 70 000 oz to 75 000 oz for the year at an all-in sustaining cost of between A$1 525/oz and A$1 575/oz.

The acquisition of the Cracow mine from fellow-listed Evolution Mining was completed in July of last year.

Meanwhile, Aeris reported that copper production at the Tritton mine reached 22 987 t, at an AISC of A$3.70/lb. The 2021 copper production was also well within the guidance of between 22 500 t and 23 500 t, at an AISC of between A$3.60/lb and A$3.75/lb.

“The 2021 financial year was a transformational year for Aeris, that has set us up for the future. There were many significant milestones during the year, which wouldn’t have been achieved without the support of our employees, shareholders and financiers,” said executive chairperson Andrew Labuschagne.

“We are looking to making 2022 another big year for the company,” he added.

At the end of June, the company had A$27-million of senior debt remaining, after having repaid A$48-million during the year, with a cash balance of A$97.4-million at the end of June.

Edited by Creamer Media Reporter

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