Exploration, mining and processing briefs

Updates on Aeris Resources, Macmahon Holdings, Senex Energy and more in this week’s exploration, mining and processing briefs. Aeris celebrates 'transformational year' Aeris Resources reports that it has achieved production and AISC (all-in sustaining cost) guidance for the financial year at its Cracow and Tritton operations. “FY21 was a transformational year for Aeris, that has set us up for the future," Aeris executive chairman Andre Labuschagne said. "There were many significant milestones during the year, which wouldn’t have been achieved without thesupport of our employees, shareholders and financier. We are looking forward to making FY22 another big year for the company.” Aeris acquired Queensland's Cracow gold operations from Evolution Mining during the 2020/21 year. During the year Cracow produced 73,685oz of gold at an AISC of $1,483/oz (guidance was 70,000oz–75,000oz at AISC $1,525/oz – $1,575/oz), whilst upgrading the mineral resources at the Roses Pride and Klondyke-Royal deposits. Jobs stacking up for Macmahon Holdings Macmahon Holdings has signed the contracts for three previously announced projects that add about $1.35 billion to the company’s order book, including a $200 million contract over three years at Dawson South. In addition to these previously announced projects, Macmahon said it was well progressed in finalising the commercial arrangements for Phase 8 of its Batu Hijau copper-gold project in Indonesia and had also signed a new contract with Northern Star Resources for surface mining work at the Julius gold project in Western Australia. The contractor said FY21 revenue and underlying EBIT were expected to be within the company’s previously announced guidance of $1.3 - $1.4 billion for revenue, and $90 - $100 million for EBIT(A). "Despite the challenges of COVID-19, a tightening labour market and adverse foreign exchange movements, I am very pleased with our performance this year,” Macmahon chief executive officer and managing director Michael Finnegan said. Senex hits production goal as expansion projects continue Ian Davies, Senex Energy. Senex Energy says it has reached a milestone this quarter, achieving its targeted initial plateau natural gas production, while growth activities continue. "We are quickly progressing the development of our significant Surat Basin natural gas reserves, to deliver our targeted five-fold growth in annual production to more than 60 PJe by the end of FY25," managing director and chief executive officer Ian Davies said. “Our near-term growth projects are proceeding well, with Roma North on track to deliver an expansion to 9 PJ/year in Q1 FY22. "Further production expansion of an additional 18 PJ/year at Roma North and Atlas combined progressed through FEED during the quarter. Portfolio production following completion of planned expansion projects will total around 36 PJ/year." Australasian Gold happy with first drilling at May Queen Australasian Gold has finished its first drilling campaign at the May Queen project in the northern Surat Basin, with more than 1000m of diamond hole drilling completed. The company said current logging had identified several sections ofpotential mineralisation - waiting for assay to confirm - with intensive potassium feldspar alteration along with sericite, calcite, and sulphides with minor silica alteration. “We are excited with the alteration and potential mineralization revealed by our diamond drilling program, pending on the assay results," Australasian Gold managing director Dr Qingtao Zeng said. "Visual observation indicates the existence of copper sulphides and we are eager to receive the gold and other elements assays soon. We are seeing more and more evidence to indicate it is likely that there is a porphyry systemunderlying the May Queen project.”

Exploration, mining and processing briefs

Industry Queensland

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