Australia's Aeris Resources plunges on outlook cut for copper output, earnings

Aeris Resources

28/04/2023 02:22

** Base and precious metals producer Aeris Resources Ltd
 AIS.AX  falls as much as 9.6% to A$0.470, lowest since Nov. 29
    ** Cuts FY23 copper equivalent output guidance to between 53
thousand tonnes (kt) and 63 kt, from prior view of 57 kt to 71
kt
    ** Also cuts FY23 EBITDA guidance to between A$50 mln
($33.17 mln) and A$70 mln due to lower copper output
    ** AIS marks its worst intraday loss since Feb. 28; set for
a sixth straight session in red, if losses hold
    ** More than 2.5 mln shares change hands, vs the 30-day
average of 1.5 mln shares
    ** AIS third biggest loser in the ASX All Ordinaries index
 .AORD 
    ** AIS down 8% this year as of last close, vs a 3.9%
increase in the ASX All Ordinaries index


($1 = 1.5074 Australian dollars)

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com; Twitter: https://twitter.com/sameer_manekar))