Aurelia withdraws 2020 guidance over uncertainty

The Peak mine in New South Wales. Image: Aurelia Metals

Aurelia Metals has pulled out of its guidance and outlook statements for the 2020 financial year, due to the high level of uncertainty surrounding the impact of the coronavirus.

The company has continued to implement measures surrounding underground mining, processing plants, accommodation and logistics operations to minimise the risk of spreading the virus.

Aurelia has placed a particular focus on its fly-in, fly-out (FIFO) workers who travel from South Australia, Victoria, Western Australia, Queensland, Tasmania and New Zealand to the Hera and Peak gold mines in New South Wales.

“The safety and wellbeing of our people and contractors and the communities in which we live and operate remains our core priority,” Aurelia stated in an ASX announcement.

“The company has been actively pursuing measures to minimise the impact on its rosters from the travel restrictions implemented by respective state governments (and) the New Zealand Government.”

The company also experienced non-coronavirus related interruptions to its shaft hoisting operations at the Peak mine after a fault was detected in the conveyance system.

The detection systems prevented any risk to site workers and the structural integrity of the shaft.

No other damage has been identified and Aurelia has been operating it at low speed since hoisting operations were suspended.

Aurelia remained in a strong net cash position, with $64 million as of December 31 last year with no debt.

The company confirmed that its gold sales and base metal concentrate shipment schedules had not been impacted by the coronavirus.

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