2201 GMT - Aeris Resources held less cash at the end of 2Q than expected by Ord Minnett, which retains a hold call on the stock as it balances long-term value with a stretched balance sheet. Aeris reported A$26 million in cash at end-December, some A$4 million less than projected by Ord Minnett and despite a lower capital spend. Aeris experienced operational challenges at its Tritton copper mine, with output some 27% below Ord Minnett's forecast and costs around 27% higher. "The Tritton issues appear to have been somewhat rectified as FY 2025 guidance is unchanged with improved grades/tons set to come from Bugderygar, Avoca Tank and Murrawombie," says Ord Minnett, referring to other Aeris-owned pits. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
February 03, 2025 17:01 ET (22:01 GMT)
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