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AERIS RESOURCES LIMITED — Capital/Financing Update 2012
Dec 20, 2012
64347_rns_2012-12-20_5ac767ac-883d-4c41-a57c-416023753df5.pdf
Capital/Financing Update
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Straits
20 December 2012
ASX/MEDIA RELEASE
STRAITS RESOURCES LIMITED (ASX: SRQ)
STRAITS PRODUCTION UPDATE
Straits is pleased to update the market on production from both its operations, which form two of the company’s five key objectives.
Key Objective
- On-time and on-budget ramp up of the Mt Muro gold mine to full production in March 2013 in order to achieve production of 100,000oz AuEq in the current financial year.
Production & Guidance
For the period of July 2012 to November 2012 Mt Muro has produced 25,700 AuEqoz. Updated guidance for the current quarter and the full year are given in the table below.
| Mt Muro Expectation FY13 | Mt Muro Expectation FY13 | Mt Muro Expectation FY13 |
|---|---|---|
| Period | Previous Guidance (AuEqoz) | Current Guidance (AuEqoz) |
| Current Quarter | 15,000 – 17,000 | 12,000 – 13,000 |
| Full Year | 100,000 | 95,000 – 100,000 |
The mining operations have been impacted by recent rain events. The waste movements are expected to recover during the second half.
Key Objective
- Achieve 25,000t of Copper production from Tritton in the current financial year post a period of significant cost reduction and on-site management change.
Production & Guidance
For the period of July 2012 to November 2012 Tritton has produced 9,900 Cu tonnes. Updated guidance for the current quarter and the full year are given in the table below.
| Tritton Expectation FY13 | Tritton Expectation FY13 | Tritton Expectation FY13 |
|---|---|---|
| Period | Previous Guidance (Cu t) | Current Guidance (Cu t) |
| Current Quarter | 6,000 – 6,500 | 5,000 – 5,500 |
| Full Year | 25,000 | 24,500 – 25,500 |
The current quarter is lower than the previous due to delays in the paste filling and stoping sequence. These have been worked through and Tritton remains on target for the full year.
For further information, please contact: Mr. Mathew Smith – Company Secretary Tel: +61 8 9480-0500, or visit our website at www.straits.com.au