Aeris Resources - Quarterly Activities Report - December Quarter 2017

Aeris Resources - Quarterly Activities Report - December Quarter 2017

Aeris Resources (ASX: AIS) has wrapped up the December quarter on a high note, with 6,465 tonnes of copper produced, up 703t compared to the previous quarter, and $17.9 million of cash and receivables. Aeris also repaid $US2.4 million off its working capital facility with Special Portfolio Opportunity V Limited. C1 and all-in sustaining unit costs continue to decline, whilst copper grades increased.


December Quarter Highlights

OPERATIONS:

  • Improved performance in Dec quarter
    • Copper production up, to 6,465 tonnes
    • Higher ore tonnes milled
    • Copper grade increase
    • C1 and All-In Sustaining unit costs continue to come down

EXPLORATION:

  • Torrens Project moves a step closer to drillready with approval of E-PEPR by SA Government
  • Airborne Gravity survey over Torrens Anomaly to commence in March quarter
  • EM survey continues over the Tritton and Kurrajong corridors (now 80% completed)

CORPORATE:

  • Cash and receivables of $17.9M at the end of the quarter
  • Repaid US$2.4M off Working Capital Facility

Safety, Environment and Community

There was one lost time injury during the quarter - an operator strained his back and neck operating a loader at the decline development face.

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There was one reportable environmental incident during the quarter. A split in the poly pipe that is used to transfer water from the Murrawombie pit to the Larsen pit resulted in a small spill of mine water. The spill was rapidly identified by monitoring procedures and only a small area adjacent to the pipeline route was impacted. The potentially affected vegetation is being visually monitored for any damage, which is not expected since the spilled water was not acidic, salty or highly contaminated.


To view the full announcement, please click here.

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