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)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.