STTCOMP AIS FA long Aeris Resources [copper miner NSW] MC ~30M...

STTCOMP AIS FA long

Aeris Resources [copper miner NSW]

MC ~30M
SOI ~600M
Debt $40M
Cash ~$26M
SP 7 cents

I tipped this a few weeks ago when it was around 6.5 cents [prior to the qtly] and it improved by 25% to 8.4 cents then fell back to 5.9. Today the company released an announcement with good copper grades/intercepts which materially extend the life of its Murrawombie mine. The SP responded well and finished up 11% on the day.

I am expecting 2 more announcements in the near term.

We are waiting on the assays for the 1200 metre hole drilled into the Lake Torrens prospect [near BHP and OZL]. Could be anything, might be nothing... all we know is the cores have some visible copper but no info on length of intercepts.

The other ann' is the company will be reporting its 12 month's financial statement before the end of the month. My expectation is the company made a $10M profit this year. imo.. AIS is a low risk punt on that upcoming announcement and the current SP is a good entry for a long term hold.

Disclosure: I hold AIS