AERIS RESOURCES LIMITED About Aeris Resources
Aeris Resources Limited (ASX: AIS) is an established copper producer and developer with multiple mines and a 1.6 Mtpa copper processing plant at its Tritton Copper Operations in New South Wales, Australia.
In FY2015 Aeris' Tritton Operations achieved record production of 30,245 tonnes of copper metal exceeding the previously upgraded guidance for FY2015 of 28,500 tonnes. Forecast copper metal production in FY2016 is 28,000 tonnes.
The Company also has an exciting portfolio of highly prospective exploration projects creating a pipeline for future growth, including advanced projects at its Tritton Operations.
Aeris' Board and Management team is experienced in all aspects of mining and corporate development.
Aeris has a clear vision to become a mid- tier, multi-operation company - delivering shareholder value through an unwavering focus on operational excellence.
Contacts:
Andre Labuschagne Executive Chairman
Suite 22, Level 2 HQ South Tower
520 Wickham Street Fortitude Valley, Brisbane QLD 4006
T +61 7 3034 6200
F +61 7 3034 6290
info@aerisresources.com.au www.aerisresources.com.au
Debt and company re-launch completed - Aeris now ready for a new beginning focused on operational success and growth Operations:- New quarterly ore processing record of 454kt
- December quarter copper production of 8,071t
- 12 month TRIFR levels continues to fall
-
New truck fleet ordered
Corporate: -
Debt restructure approved by shareholders and completed on 31 December 2015:
- Senior Debt reduced to US$50 million
- New US$25 million Working Capital Facility
- US$7 million Convertible Notes redeemed/converted in early January 2016
- Shareholders approved name change to Aeris Resources Limited
- 1 for 10 consolidation of Ordinary shares completed
- Sale of exploration projects to Sandfire Resources NL for A$2.5 million (payable in Sandfire shares) completed on 4 January 2016
Aeris Resources Limited ABN 30 147 131 977
Level 2, HQ South Tower, 520 Wickham Street, Fortitude Valley, Brisbane QLD 4006 Australia Post: Box 14, 520 Wickham Street, Fortitude Valley, Brisbane, QLD 4006 Australia
E: info@aerisresources.com.auT: +61 7 3034 6200 F: +61 7 3034 6290
aerisresources.com.au
The December quarter marked a number of significant milestones for the company:
The completion of the debt restructure with Standard Chartered Bank, negotiated over two and a half years, which significantly reduces the Company's gearing;
A new 3 year US$25 million Working Capital Facility with Special Opportunity V Limited (PAG SPV);
Re-launch of the company as Aeris Resources Limited;
Completion of a 1 for 10 consolidation of Ordinary shares.
Aeris Resources, formerly known as Straits Resources can now focus on achieving its vision; to become a mid-sized, multi-mine company, delivering shareholder value through an unwavering focus on operational excellence.
There were no lost time injuries during the quarter.
The total recordable injury frequency rate (TRIFR) has fallen to 20.4, continuing to further improve on TRIFR levels of the past two years. Aeris continues to prioritise the safety of its work force and aims to sustain this rate of improvement through a focus on improving safe behaviours.
PRODUCTION
Production for the December quarter was 8,071 copper tonnes, an increase on the previous quarter and in line with the mining plan.
Ore processing performance increased compared to previous quarters, achieving a new record of 454,404 dmt of ore milled. The crusher repairs and SAG Mill maintenance brought forward to the September quarter resulted in fewer days downtime required for planned maintenance in the December quarter, allowing for more ore to be processed than planned with the Mill operating at a throughput rate equivalent of 1.8mtpa.
Copper recovery at 94.23% was higher than the prior quarter, where recovery was impacted by a temporary minerology change in ore mined.
The priority operational focus continued to be centred on improving reliability of the mine equipment fleet. During the quarter Aeris placed orders to purchase a new truck fleet which will replace the current ageing and high cost units. The first two new 63t underground trucks were added to the fleet in December. Ongoing productivity initiatives focused on increased production and lower costs are underway.
Tritton Production Statistics | ||||
DEC 2014 QTR | MAR 2015 QTR | JUN 2015 QTR | SEP 2015 QTR | DEC 2015 QTR |
MINED TONNES 426,149 402,049 413,039 430,244 424,445
GRADE Cu (%) 2.05% 2.14% 1.82% 1.88% 1.86%
ORE MILLED TONNES 408,473 404,169 407,909 397,798 454,404
GRADE MILLED Cu (%) 2.03% 2.17% 1.81% 1.91% 1.86%
RECOVERY Cu (%) 94.92% 94.83% 94.22% 93.97% 94.23%
COPPER CONCENTRATE PRODUCED
TONNES 32,330 34,157 28,005 30,210 33,241
COPPER CONCENTRATE GRADE
Cu (%) 24.30% 24.31% 24.77% 23.58% 24.02%
CONTAINED COPPER IN CONCENTRATE
TONNES 7,858 8,304 6,938 7,123 7,985
COPPER CEMENT PRODUCED
TONNES 46 48 39 60 86
TOTAL COPPER PRODUCED
TONNES 7,904 8,352 6,977 7,183 8,071
COSTS
C1 unit cash costs for the quarter of A$2.41/lb were slightly higher than the previous quarter, influenced by higher TC/RC's and product handling costs from the shipment of higher volumes of product.
Aeris Resources Limited issued this content on 2016-01-20 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 2016-01-20 03:35:15 UTC
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