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The latest announcement is out from Aeris Resources Limited ( (AU:AIS) ).
Aeris Resources has secured development consent from the New South Wales Department of Planning, Housing and Infrastructure for its Constellation Project in the Cobar Basin, a key regulatory milestone that allows the copper-gold project to advance toward development. With an open-pit probable ore reserve of 2.3 million tonnes grading 2.0% copper, 0.6 g/t gold and 3 g/t silver, and a total mineral resource of 7.6 million tonnes at similar grades, management says Constellation is now well positioned to become the next major ore source for the Tritton processing plant, potentially strengthening Aeris’ production base and growth profile in the near term.
The most recent analyst rating on (AU:AIS) stock is a Buy with a A$0.60 price target. To see the full list of analyst forecasts on Aeris Resources Limited stock, see the AU:AIS Stock Forecast page.
More about Aeris Resources Limited
Aeris Resources Limited is an Australian mid-tier base and precious metals producer with a copper-dominant portfolio that includes two operating assets, several development projects and a highly prospective exploration pipeline. The company pursues organic growth through new projects and aggressive exploration, while also assessing strategic mergers and acquisitions, and emphasises lean operations and strong relationships with community, investors and its workforce.
Average Trading Volume: 6,565,264
Technical Sentiment Signal: Buy
Current Market Cap: A$652.5M
For a thorough assessment of AIS stock, go to TipRanks’ Stock Analysis page.