Log in
Show password
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 
  1. Homepage
  2. Equities
  3. Australia
  4. Australian Stock Exchange
  5. Aeris Resources Limited
  6. News
  7. Summary
    AIS   AU000000AIS8


SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Aeris Resources Limited Provides an Update on Life of Mine Extension Projects Commencing in Fiscal 2022 for Tritton Copper Operations

08/02/2021 | 08:20pm EDT

Aeris Resources Limited provided an update on life of mine extension projects commencing in fiscal 2022 for the Company's 100% owned Tritton Copper Operations (Tritton) in New South Wales. Since Tritton commenced operations in 2005, the Tritton underground mine has been the mainstay source of ore feed for the processing plant (Tritton Mill). From 2016, the Murrawombie underground mine has been the supplemental ore source for the Tritton Mill. Over the next few years production levels from both of these mines will reduce and new ore sources will be brought into production from project pipeline. The development of the first three of these new mining projects is commencing over the course of fiscal 2022 at a cost of $50 million: Budgerygar deposit - an extension of Tritton underground mine; Avoca Tank underground mine; and Murrawombie Pit cut-back As the project pipeline is progressively converted into production sources, the operating model at Tritton will transition to hub-and-spoke, with multiple mines across the tenement package providing ore to the centralised Tritton Mill. Oxide ore discovered could be processed through the Murrawombie heap leach pads, which are still operational. Having an established workforce, water and power infrastructure and operational processing capability means the time between discovery and mining of copper mineralisation on the Tritton tenement package is significantly reduced. Fiscal 2022 New Production Projects: The Budgerygar deposit is adjacent to the Tritton underground mine and will be accessed from the Tritton mine infrastructure. Recent resource definition drilling has targeted the upper portion of the Budgerygar deposit between 5,200mRL to 5,000mRL to a nominal 40m x 40m drill spacing, appropriate for conversion to an Indicated Mineral Resource category. Geologically, the additional drill hole data supports the current geological interpretation of multiple stacked copper sulphide bodies. There is some additional faulting and dislocation of the mineralised systems which is typical for these deposit types as the drill density increases. The Avoca Tank deposit has an Ore Reserve1 of 700kt @ 2.5% Cu and 0.8g/t Au and remains open down plunge. The Mining Lease application has been submitted and approval process is underway with construction of the access decline targeted to commence by the end of second quarter of fiscal 2022. First production is schedule in first quarter or second quarter in fiscal 2023. The Murrwombie Open Pit cut-back has an Ore Reserve1 of 1,600kt @ 0.9% Cu and will be used as a supplemental ore source from FY23 onwards to "Fill the Mill". The Tritton tenement package covers 2,160km2 in central western NSW. To date over 750,000 tonnes of copper, including the current Mineral Resource deposits, has been discovered within the southern half of the tenement package. The northern half of the tenement package, until recently, has not been subject to modern exploration and remains largely unexplored. The discovery of the Constellation deposit in November 2020 demonstrates the prospectivity of this area. During FY22 $15m has been allocated to both early stage exploration activities ($7m) and in-fill resource drilling ($8m) on the Tritton tenement package: in-fill resource drilling campaigns will be conducted at the Constellation, Kurrajong and Budgery deposits. These drill programs will upgrade the geological understanding of each deposit so that they can also be scheduled into the Tritton life-of-mine plan: Constellation deposit - targeting initial Mineral Resource in third quarter of fiscal 2022; Kurrajong deposit - targeting initial Mineral Resource in fourth quarter of fiscal 2022; and Budgery deposit - targeting maiden Ore Reserve in fourth quarter of fiscal 2022 an airborne electromagnetic surveying program over 570km2 of the northern section of the tenement package; a geochem auger sampling program; and initial drill testing of multiple anomalies. Constellation and Kurrajong are priority exploration projects as drilling results to date at both deposits indicate potential for higher grade ore sources. The Company is confident that the highly endowed Tritton tenement package has more copper awaiting discovery and looks forward to updating the market as it moves this exploration program forward in fiscal 2022.

ę S&P Capital IQ 2021
10/25AERIS RESOURCES LIMITED : - Response to Media Article
10/21AERIS RESOURCES : Tritton adds new exploration tenement to portfolio
10/21AERIS RESOURCES : Expands Footprint of Tritton Copper Operations with New Tenement Grant
10/20Aeris Resources Limited Adds New Exploration Tenement to Portfolio
10/18AERIS RESOURCES : Board changes
10/17Aeris Resources Limited Announces Board Changes
09/20AERIS RESOURCES LIMITED(ASX : AIS) added to S&P Global BMI Index
09/07AERIS RESOURCES : Completes Phase 2 Drilling at Constellation Deposit; Shares Rise 5%
09/07Aeris Resources Limited Provides an Update on Exploration Activities At the Constellati..
08/26Aeris Resources Limited Reports Earnings Results for the Full Year Ended June 30, 2021
More news
Sales 2022 451 M 338 M 338 M
Net income 2022 96,7 M 72,6 M 72,6 M
Net cash 2022 61,0 M 45,8 M 45,8 M
P/E ratio 2022 4,20x
Yield 2022 -
Capitalization 413 M 310 M 310 M
EV / Sales 2022 0,78x
EV / Sales 2023 0,46x
Nbr of Employees 1 091
Free-Float 70,7%
Duration : Period :
Aeris Resources Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends AERIS RESOURCES LIMITED
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus BUY
Number of Analysts 1
Last Close Price 0,19 AUD
Average target price 0,23 AUD
Spread / Average Target 24,3%
EPS Revisions
Managers and Directors
Willie AndrÚ Labuschagne Executive Chairman, Chief Executive Officer & MD
Robert Brainsbury Chief Financial Officer & Joint Secretary
Ian Sheppard Chief Operating Officer
W. Edward Alastair Morrison Independent Non-Executive Director
Michele Muscillo Independent Non-Executive Director
Sector and Competitors
1st jan.Capi. (M$)
BHP GROUP-11.24%140 145
RIO TINTO PLC-14.85%105 974
GLENCORE PLC54.55%65 035
GRUPO MÉXICO, S.A.B. DE C.V.10.10%35 703