All tagged Aeris Resources ASX:AIS
Australian copper miner Aeris Resources (ASX: AIS) told the market this week it expects to beat its original full-year production target by nearly 10 per cent, on the back of improved performance and higher grades.
Aeris Resources (ASX:AIS) has upgraded its full year copper production guidance to between 26,450 tonnes and 26,650 tonnes. This is an increase of some 4% on the previous guidance upgrade of 25,500 tonnes announced on 24th April and an increase of 8% on the original guidance of 24,500 tonnes.
Aeris Resources (ASX: AIS), an Australian copper producer and explorer, notes the announcement released today by Argonaut Resources NL (ASX: ARE) on the Torrens Project drilling program. Aeris (70% owner of the Torrens Project and Joint Venture Manager) says it strongly disputes the sentiment expressed by Argonaut in its announcement. Aeris Executive Chairman Andre Labuschagne said the team on site has managed the drilling program extremely well in what has been at times difficult and challenging conditions.
Aeris Resources (ASX: AIS), an Australian copper producer and explorer, has provided an update on its 70% owned Torrens Exploration Project in South Australia. The current drill hole, TD10 commenced drilling on 24th April and reached the target depth of ~1,300m on 28th May. Visual observations from the drill hole have shown highly altered K-feldspar and magnetite rich intervals with trace amounts of pyrite and chalcopyrite.
Aeris Resources (ASX: AIS), an Australian copper producer and explorer, has provided an update on its 70% owned Torrens Exploration Project in South Australia. The current drillhole, TD10, commenced drilling on the 24th April and intersected the artesian aquifer between 60m to 90m below the lake surface. Drilling continued to 108m, at which point casing was installed and cemented to surface ensuring the artesian aquifer was successfully sealed off and contained. Excellent drill rates have been achieved beneath the artesian aquifer.
Copper miner Aeris Resources (ASX: AIS) says it has been unable to come to agreeable terms with Glencore on its proposed acquisition of the CSA mine. Aeris chairman Andre Labuschagne said it was disappointing; however, the company remains heavily focused on its Tritton copper operations and its Tritton exploration project.
Aeris Resources says discussions with Glencore regarding the proposed acquisition of the CSA mine are continuing, but no concluded agreement or funding structure has been reached as of yet. Aeris notes there is no guarantee that the potential acquisition will proceed.
Aeris Resources (ASX: AIS) notes the recent Australian Financial Review article stating that Aeris is in discussions with Glencore in relation to a potential acquisition of the CSA mine, and has confirmed that it has made an offer to acquire the CSA mine from Glencore for $US575m in a mix of cash (approximately US$525m) and Aeris shares (approximately US$50m), plus a royalty payable to Glencore. The company will update the market if and when any formal agreement is entered into in relation to the proposed acquisition.
Australian copper producer and explorer, Aeris Resources Limited (ASX: AIS), has provided an update on exploration activities within the Tritton tenement package. An initial assessment from an airborne electromagnetic survey has identified 25 anomalies for follow-up, with 9 of these considered high-priority targets. The results confirm the prospectivity of the under-explored northern half of the Tritton tenement package.
Aeris Resources Limited (ASX: AIS) has provided an update on its 70%-owned Torrens Exploration Project in South Australia. The first drill hole, TD7, from the Phase 1 drill program at Lake Torrens has been successfully completed and the company has intersected encouraging geology, including hermatite alteration zones.