STT Trade
AIS Aeris Resources [Copper producer NSW... exploring the Torrens project in SA]
MC ~ $120M, SOI 642M [fully diluted] Debt A$40M Cash A$12M
Announced this morning drilling is set to start in 1 week's time at the Torrens IOCG prospect. People have been waiting 10 years to see some drill cores from this site. [held up in the courts due to Native title disputes... which have now been completely settled]. Torrens is in the same geologic domain with Olympic Dam, Carrapateena and Prominent Hill. A few weeks ago BHP went public with an announcement they had discovered a copper deposit which returned +400m's @ 3% Cu [including ~ 200m's @ 6% Cu] just 40K's from where AIS is about to drill similar sorts of gravity anomalies. BHP's find was however very deep [+1000m's down]... Torrens is at a similar depth to Olympic Dam [400m's]. Certainly worth some DYOR.
2 companies involved... AIS has 70% of the project and ARE holds 30%
STT Trade AIS Aeris Resources [Copper producer NSW... exploring...
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