Aeris Resources cashes in on gold boom
By Industry Queensland
Aeris Resources continues to extract value from the aging Cracow gold operations in Central Queensland.
In its quarterly report to the ASX, Aeris noted production of 12.2koz at a cost of $2488/oz.
The gold price in Australian dollars was $4190.70 on the last day of December. It’s risen by five per cent since.
This resulted in the mine creating ‘free cash flow significantly above budget at current gold prices,’ the company told the ASX.
The company remained on track to achieve the upper end of the production guidance, the report said.
“Cracow operations again performed well with mined tonnes and grade ahead of plan,” the company said. “Mill throughput and grade were in line with mine production and supplemented with stockpile material.
“At the processing plant, the project to install a secondary cyclone circuit is underway. This will enable classification of ore upstream of the HIG mill, thereby maximising grinding capacity of the processing plant and improving gold liberation in the leaching circuit.”
Gold recovery is forecast to improve by one per cent with commissioning planned for this quarter (Q3 25FY) it said. “Cracow remains well on track to achieve the upper end of production guidance.”
The company said operating costs were in line with budget with full year costs forecast to be within guidance. “All-in sustaining costs were slightly higher quarter on quarter due to lower gold production from lower grade mining areas.”
Cracow, around 500km north west of Brisbane, was first discovered by fossickers in 1875. Around 850koz were produced between 1932 and 1992. Underground operations began in 2002.
Due north, and Aeris Resources has wound up operations at its Mount Colin site in the Isa Carpentaria Minerals province.
It was a good final quarter with metallurgical recovery and mill feed grades all improving. Copper production was a standout at 1.9kt and showed better economies of operation.
The ore is being trucked to Ernest Henry for toll processing. Final stockpiles of ore, totalling around 1.48kt, are expected to be processed this month (February).
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