Refile: BUZZ-Jefferies sees positive cash margins by 2H24 for Australia's Aeris Resources

Aeris Resources

23/10/2023 21:05

(Refiles to fix spelling of Australia in headline)
    ** Analysts at Jefferies see Australian copper-gold explorer
Aeris Resources  AIS.AX  having cash-positive margins in
operational improvements and focus on margins by 2H 2024
    ** Reiterates "hold" rating, with PT of A$0.20/share 
    ** Expects further tightening of balance sheet in FY24 due
to cost inflation along with decrease in base metals prices
    ** AIS says cash flow from operations impacted by additional
payments made during Sept. quarter to reduce balance
of operational trade creditors, using funds from operations and
WHSP's debt facility
    ** Says similar operating and investing cash flows expected
in Dec. quarter, requiring further draw downs from WHSP facility
- analysts at Jefferies
    ** Stock down 68.1% YTD, as of last close 

 (Reporting by Roshan Thomas in Bengaluru)
 ((Roshan.Thomas@thomsonreuters.com;))