Current copper prices are at A$5.79/lb ($12,739/t) with the FX of 0.78 to the greenback and spot Copper prices at $4.52/lb. Let's hope in FY2022, Aeris can execute better hedges for Cu. We have 3 more months to complete the hedges (May to July, 2,499t at A9,228/t and 2001t at A$11,100).
If using 22,500t from the revised down forecast, the copper production for Q4'2021 will be 5,341t.
At 23,500t forecast for FY2021, the copper production for Q4'2021 will be 6,341t.
Both are still better than Q3'2021 at 5,270t.
With regards to the debt level, total debt is A446.9, while the position is at A$47.1. We are now net cash by A$0.2m. The term used net debt positive gives the wrong impression.
Ann: QUARTERLY ACTIVITIES REPORT - MARCH 2021, page-27
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