Aeris hits Cracow production target

aeris

The Cracow gold mine. Image: Evolution Mining.

Aeris Resources has achieved its production goal at the Cracow gold operations in Queensland in the first year since its acquisition of the site from Evolution Mining.

The operations were bought from Evolution for around $125 million and produced 73,685 ounces under the first year of Aeris’ watch.

This middled Aeris’ production guidance of 70,000 – 75,000 ounces and progressed the mine towards the end of its expected life in around 2023.

Aeris executive chairman Andre Labuschagne said it had been a very important 12 months for the company.

“Financial year 2021 was a transformational year for Aeris, that has set us up for the future,” he said.

“There were many significant milestones during the year, which wouldn’t have been achieved without the support of our employees, shareholders and financier. We are looking forward to making financial year 2022 another big year for the company.”

Further strengthening the company’s recent success was the production from the Tritton copper operations in New South Wales.

Tritton comprises its namesake mine and the Murrawombie underground mine – the combined production of which is treated at Tritton’s 1.8 million tonnes per year processing plant.

The 12-month production at Tritton was 22,987 tonnes of copper to June 30, also hitting the lower end of its target of 22,500 – 23,500 tonnes.

In June, Aeris announced it would use a $50.4 million placement to explore both operations, while advancing its Budgerygar deposit, 600 metres from Tritton.

“This is an exceptional outcome for Aeris and its shareholders, and provides the balance sheet strength to accelerate exploration at both our operations in financial year 2022, while progressing in parallel, life extension projects at Tritton,” Labsuchagne said in June.

To keep up to date with Australian Mining, subscribe to our free email newsletters delivered straight to your inbox. Click here.