Thanks @Pushhi . As a follow up the following extract from a...

Thanks @Pushhi .

As a follow up the following extract from a recent Bell Potter report, re Aeiris 30 th Nov 2018.

" At Tritton, we estimate a total mineral endowment (all historic production plus current
Mineral Resources) of 48Mt @ 1.8% Cu for ~860,000t contained copper, making the
project one of the major copper fields in Australia. The tenements cover 1,800km 2 and are
significantly under-explored. AIS’ advancing understanding of the key regional geological
structures, the technological development of more effective geophysical exploration tools
(which have a track record of success at Tritton) and a lack of drilling in highly prospective
areas represent significant opportunities for further exploration success and potential mine-
life extension at Tritton. .......

AIS has consistently generated positive operational cash flows from the Tritton operations
(FY16 $9.1m, FY17 $19.1m, FY18 $50.5m). Mine CAPEX and other investing cash flows
have run at around $30m for the last two years for negative free cash flow of $10m in FY17
but $21m positive free cash flow in FY18.
If a performance similar to FY18 is maintained then AIS should be able to meet its debt
service and repayment obligations. We note the big improvement in FY18 financial
performance vs FY17. On our analysis this was driven by a very strong June 2018 quarter,
which benefitted from a high copper price, low operating costs (A$2.10/lb), high grades
(1.89% Cu head grade) and a strong mining and milling performance. We estimate that
nearly half of AIS’ free cash flows in FY18 were generated in the June 2018 quarter."

Your comment regarding satellite potential plus from surface ore @ Collerina is instructive.
Lets get on with drilling those satellite targets.


Cheers