Aeris Resources Ltd (ASX:AIS) has booked in further copper and gold hedging for the period to the end of June 2023 with the intention of taking advantage of strong current prices for both metals.
The established multi-state copper and gold producer has hedged 3,000 tonnes of copper at A$13,254 per tonne at 1,000 tonnes per month from April to June.
Aeris has also entered into additional gold hedges for a total of 5,478 ounces with pricing between A$2,819.91 and A$2,835.20 per ounce.
There will be 978 ounces hedged this month and 1,500 ounces per month from April to June.
Pricing “is attractive”
The company’s executive chairman Andre Labuschagne said, “Whilst we maintain a positive outlook on both copper and gold we believe the current A$ pricing for both commodities is attractive and have undertaken these hedges to help underpin our revenue base out to the end of the financial year.”
Impact of heavy rain
Meantime, the big wet in northwest Queensland has impacted operations at the company's Mt Colin Copper Mine.
During the last week, the region has recorded extreme levels of rainfall and at 10:30pm on Wednesday, March 8, 2023, all personnel were withdrawn from the Mt Colin mine due to excessive water flows.
The site team focused on water management activities and the situation has since stabilised, enabling mine production and ore haulage activities to resume today.