Aeris Resources Ltd (ASX:AIS, OTC:ARSRF), a mid-tier base and precious metals producer in Australia, has forecast group copper-equivalent production of 40,000 to 48,000 tonnes during FY25, in line with the FY24 copper-equivalent production of 42,000 tonnes.
Within this guidance is 27,000 to 32,000 tonnes of copper, 50,000 to 62,000 ounces of gold and 200,000 to 240,000 ounces of silver, compared to the FY24 production of 27,200 tonnes of copper, 55,300 ounces of gold and 240,400 ounces of silver.
The Tritton Copper Operations in central New South Wales is expected to produce 21,000 to 25,000 tonnes of copper and the Cracow Gold Project in Queensland is expected to produce 40,000 to 49,000 ounces of gold.
Group operating costs are forecast to be lower than FY24 levels with the completion of mining at the North Queensland Project while group growth capital will be higher than the previous year due to increased investment at Tritton.
Tritton guidance
Aeris expects improved mining rates and ore grades at Tritton in FY25 owing to a simplified plan focused on mining higher grades from the Avoca Tank and Budgerygar deposits.
Copper production is forecast to increase to 21,000-25,000 tonnes from 19,700 tonnes in FY24 while operating costs are forecast to be in line with FY24 levels.
FY25 will see increased growth capital invested by Aeris at Tritton, particularly at the Murrawombie pit cutback.
Gold at Cracow
At Cracow, production and operating costs for FY25 are expected to be broadly similar to FY24.
Growth capital is forecast to be materially lower to the previous year, during which the tailings dam upgrade project was undertaken.
Another contributor to guidance for FY25 is the Mt Colin Mine at the North Queensland Project at which the mine life has been extended until early next quarter due to new mineralisation being identified in the 'Cave Zone' and in remnant stopes.
Mt Colin is expected to produce 6,000-7,000 tonnes of copper compared to FY24 6,800 tonnes in FY24 and 3,000-4,000 ounces of gold compared to 4,300 ounces in FY24.
READ: Aeris Resources has strong quarter to notch up 19,700 tonnes of copper at Tritton and 45,900 ounces of gold at Cracow in FY24
Quarterly production
During the June quarter, Aeris had copper equivalent production of 10,200 tonnes at an AISC of A$5.45 per pound.
The company said Tritton performed well with production and grades higher on increased ore volumes from Avoca Tank and Budgerygar mines while there was strong gold production at Cracow and costs were in line with plan.
At Tritton, there were 5,400 tonnes of copper produced at an AISC of A$5.23/lb with ore production up 20% on the previous quarter and mined grade improved from 1.71% to 1.89% copper.
Cracow saw strong gold production of 11.600 ounces at an AISC of A$2,533/ounce and the operating and capital costs were as per plan.