AERIS RESOURCES LIMITED (ASX: AIS)- From the companies’ Tritton Copper Operations Dec Qtr Copper Production is the above plan at 6,515 tonnes with C1 of A$2.96/lb, while YTD Copper Production of 13,268 tonnes at C1 of A$2.86/lb. Regarding exploration, Kurrajong prospect continues to intersect high-grade copper mineralization, drilling at Torrens about to commence. New Tritton exploration tenement granted and it extends geological corridor by 40km. At the end of quarter cash and receivables are of $21.7M.
The company also provides FY2019 guidance, copper production of 24,500 tonnes at a C1 cash cost between A$2.75/lb and A$2.90/lb. Compared to the previous quarter, copper production for the December quarter was 6,515 tonnes with higher copper ore grades being offset by lower tonnes mined and milled. Primarily due to lower copper tonnes produced and inventory movements due to the timing of shipments for the quarter C1 cash costs, at A$2.96/lb are above guidance, and higher than the previous quarter (A$2.77). In line with guidance are C1 cash costs for the first six months of the financial year (A$2.86/lb).
Because of the impact of the higher capital expenditure and higher C1 unit cash costs (capital development and sustaining capital), All-In Sustaining Costs of A$3.67/lb also increased from the previous quarter A$3.41/lb. Including $1.8 million on exploration, capital expenditure for the quarter was $8.9 million. At a C1 cash cost between A$2.75 and A$2.90 per pound, the copper production guidance for FY2019 is 24,500 tonnes.
AERIS RESOURCES LIMITED (ASX: AIS) shares are trading up by 9.302% at $0.235, and the last one-month performance has been around 22.86% for the stock price. The current market capitalization as at Jan 17, 2019 is $97.98 million.
EUROPEAN METALS HOLDINGS LIMITED (ASX: EMH)- With regards to price, terms or conditions the purported indicative offer letter does not contain any detail. European Metals is not making this to be an offer to which it can consider at this time, considering the absence of this information. For its Cinovec project, the company had a receipt of uninvited indicative offer from Krupa Global Investments.
With an Inferred Mineral Resource of 323.5Mt @ 0.04% Sn and 0.39% Li2O comprising a collective 7.18 million tonnes Lithium Carbonate Equivalent and 263kt of tin and a total Indicated Mineral Resource of 372.4Mt @0.04% Sn and 0.45% Li2O, Cinovec hosts a globally significant hard rock lithium deposit.
EUROPEAN METALS HOLDINGS LIMITED (ASX: EMH) shares are trading up by 25% at $0.400, and the last one-month performance has been around 3.23% for the stock price. The current market capitalization as at Jan 17, 2019 is $46.93 million.