Good afternoon, everyone, and thank you for joining the Aeris Resources Core Activity Support presentation. As I start, it's fair to say that the Q3 was a bit of a disappointing quarter and a bit of a more interesting tougher quarter for specifically at Tritton. Also, the impact of the production throughput of Mt Colin tons, Sue and Assengari, due to the rain events we had up in North West Queensland. To summarize, the copper equivalent production at 11.1 thousand tons was lower than the previous quarter, but if we were able to treat those tons out of Mt Colin, it would be significantly different. We'll talk a bit more about the impact of those. At Tritton, Budgerygar delays still impact. We're now delayed by over 9 months, and it really just timing of getting the raise bore through.
As we speak, they're busy setting it up, they will start drilling it by Monday, we should have the ventilation shaft up by mid-May and then production into Budgerygar. At Mt Colin, we ended up the quarter with 135,000 tonnes, roughly about 3,200 copper production metal tonnes on stockpiles. That was worth about AUD 25 million of revenue or net realizable value, which we didn't bring into the quarter. Since then, 100,000 of that has already been treated and 30,000 is being treated as we speak. Most of that stockpile has already or will be all treated by the end of April. We'll go through a bit more detail on where do we see Mt Colin.
On the cost side, you know, we all know cost has been challenging across industry. I must congratulate the teams. They're doing an amazing job to keep costs under control in an environment where we see power costs going up, labor costs going up. They have done an amazing job to keep managing the cost on a monthly basis out of all 4 of the operations. On the capital spend, we have put a huge effort in specifically at Jaguar mine and Cracow to manage the capital to ensure that we don't spend unnecessary money. You will see in the next slide, we are revising our capital forecast down, specifically around the management of capital and managing the balance sheet. On the exploration side, every quarter we show success. Every quarter. This quarter, it's about Jag.
At Jaguar, we found a new deposit called Buckler. What we're seeing at Jag is as we drill, we find more. The benefit is as we try to get down to Turbo, there's more and more ore bodies on the way through to Turbo, and we'll touch on that going forward. At a corporate side, we closed the cash and receivables with AUD 56 million. As I said, that AUD 25 million impact on Mount Colin ore made a difference, that could have been significantly more than that. We still have no debt. On the Stockman side, feasibility study is well underway.
We had a detailed in-depth review in the last 2 weeks. It remains a very exciting project for us, going forward and bring that into production as soon as we possibly can. Those who've seen the announcement this morning, you would have seen we revised our guidance. It's only on the copper. That's really impacted by Mt Colin on a major impact where, as I said, we had 135,000 tons at the end of the quarter. That has now been treated. At this stage we have only 1 more block set aside of 30,000 tons, which will result in about 90,000 tons of stockpiles at the end of the financial year. We will keep talking to the, to the toll treaters and see if we can get another slot in June.
There's potentially upside to that. At this stage, there's about 2,000 tons which we were planning to bring into this quarter's production, or this last quarter, which we potentially might not be able to, and that's one of the reasons why we've downgraded the guidance because of that. That doesn't mean the tons are there. The tons will be on deck. It will just come through in July instead of June. That's just the unfortunate side of timing. When you are a toll treater or you're relying on third parties and which had their own issues with the rain events up there, you need to respect that as well. At Tritton, as I said, Budgerygar has been delayed. That said, though, the team at Tritton has done a really good job identifying opportunities to catch up.
We're looking at. They have been assessing and are planning to mine remnant pillars, which is high-grade pillars available to us, which is already ready to go with mining the south wing. We bring in other sources to try to catch up on Budgerygar. There's risk associated with that, and we decided to be realistic in the guidance and downgraded Tritton as well with 2,000 tonnes, which then resulted in that new guidance. On the capital cost, our original guidance was AUD 173 million to AUD 213 million on total capital. We now downgraded that to AUD 139 million. A significant downgrade on capital, but it's purely capital at both Jaguar and Cracow. All the growth capital is spent at Tritton.
Mt Colin doesn't take a lot of capital, and the capital we delayed at Jaguar was necessary because of the understanding we needed for turbo, where do you put the decline and how quickly you get there. The guys have worked up some alternative options in the short term to improve ventilation and pumping, and that's being implemented. Obviously, when you drop 4,000 tons potentially out of your copper production, that will impact on EBITDA, and we revised EBITDA accordingly, down to AUD 50 million to AUD 70 million. I'll just touch on a few other things we've done. On the sustainability side, we had 1 lost time injury, which was unfortunate, when operator, thumb was degloved, while working on a, on a drill rig on a...
On the sustainability side, we have now launched internal projects to have all the data ready for release as part of the annual report, have a baseline sustainability report, and that will go out with the annual report. At the board level, we've restructured the board as well to become more compliant. The sustainability com was normally stability and risk. We've now added all risk to the audit committee and decided sustainability committee is a separate and really focused on strategic way forward on sustainability. On environmental side, we had 2 big events which were reportable. The one was the water level at Barbara because of the heavy rain we had in North-West Queensland. It was just a reporting on water levels.
At Tritton, we had a bush fire, which was a result of a angle grinder setting the bush alight, and that has burned down some properties and also ended up in some power loss, which had a small impact on production, but not material. I'll just touch on the operations at Tritton. We did 3,000 odd tons. The main thing was the ventilation for Budgerygar. You can see the picture on the right-hand side. That was the piling we did. You do down to 30+ meters. We did these piles, which will now stabilize the ground. The pilot hole is in, and as we speak, they're very busy setting up the raise bore to pull that through.
By mid-May, we will be able to get the ventilation on. We can mine those stopes, which has already been set up out of Budgerygar. We just can't mine it legally if you don't have proper ventilation in place. We will also see a significant improvement in grade coming out of Avoca Tank. Avoca Tank, I was there underground the other day. That photo is a photo of ore sitting there, development ore. We're not allowed to stope till we got 2nd egress in place. That is being done as we speak. As soon as that, the stope's ready. Those 1st stopes, we expect to come out around 4%-5%. As we drilled that area, grade control drilling, we had an interesting surprise on the upside on the resource.
As you know, the resource we thought was resource grade's about 2.5. We're seeing grades above 4% in those 1st stopes, and that's why it's very important to get those high-grade stopes to the plant in the Q4 to push that production volume through the plant. As a result, we've changed the quarter 4 co-forecast to 5,000-6,000 tons, which is still significantly more than what we've achieved in the last 3 quarters. That is on the back of those 2 operations coming online, plus the opportunities the guys identified, which we will still mine even though Budgerygar is coming online. Our operating cost and capital, as I said, no change in guidance. The guys are doing a really great job to managing on that side of the business.
On the exploration side, we spent AUD 15 million on growth projects and exploration. I talked about Avoca Tank, which we're seeing some real good grades coming out of it. We have put a resource out of Kurrajong. It was always just an exploration target. That's sitting at 2.2 million tons at 1.7% copper. There's a high-grade zone of 1.1 million tons at +2.5% copper. There's significant opportunity, and it's still open at depth. We also have moved the focus a lot to the north. You can see that VTEM. We've done the VTEM. We've identified the targets, the guys are busy working through those targets, and we're planning to do some drilling in the next 3 to 6 months to some of those targets.
We also drilled 3 holes and at the 5M7 target, and we've seen we did get sulfides. We're waiting for the results to come back, and then we'll see if there's something material or something to do more work in that specific area. At Jaguar, look, although 4,200 tons is lower than previous quarter, we did plan for lower grades from those stopes, but there was an impact from a seismic event which has impacted production a little, but it's not material enough, or it's not that material that it will impact guidance. The guys are working through those and they are back in production. What is very interesting, you can see that picture on the right-hand side, where that area sits, it's at the bottom of the mine.
As we drill it, we got the Buckler deposit, we got Turbo Hanging Wall, we've got Java Deeps. There's a lot of opportunities. Originally, when we looked at it, you were just gonna have a barren area, we're gonna put development through to get to Turbo. As we drill it, we keep on finding more, and it looks very interesting, and trying to put the plans together to get access to those Turbo deposits. That's all plans for FY 2024 in trying to get there and start that. That is one of the Turbo deposit is still one of the biggest lenses in the Bentley mine itself. That's quite exciting. They have managed to retail their capital. We have made decisions to move growth capital for ventilation out to FY 2024 and start the development.
We've started now to get down to Turbo. Some capital has been moved, but there's also been a focus to save on capital as much as we can as we move through FY 2023. Excuse me. This is just some of the intersections in that Buckler deposit. You can see the copper grades, 3.7, nearly 2.9% copper with good zinc. That is a great deposit and a great find. There's more work now being done to draw that out and understand that whole ore body around Turbo and further down there to get to Turbo. This has been a really good outcome for the Jaguar team. North-West Queensland, they did 1,600 tons of copper.
As everyone know, there has been a massive rain event, Ernest Henry was out for quite a period of time, and it was just not possible for us to put all the tons through the mine. There was, as you can see there, 135,000 ton at 2.4% copper left at the end of the quarter. That is now being treated and it's really going forward, how do we can bring that forward. The team has put an extraction plan in place.
That is on the right-hand side, you can see the extraction plan basically to get out of Mt Colin in the next 15 months or so, and there's a clear plan being developed, and strategically developed to manage the exit of Mt Colin and ensure we get the returns we're looking for. The potential of having 90,000 tons of stockpiles has been brought into the guidance, as I said earlier, and efforts will be made to see if we can reduce that significantly by getting another treatment slot. The Barbara deposit has now been drilled.
The geologists are looking at the resource, updated resource and updated block models to see how does that work as an open cut or as an underground, see if there's potential to move from Mt Colin to Barbara in using the same process. Barbara has previously been mined as an open pit, that was struck in Mount Isa. That opportunity still remains there to do exactly the same, also look at the underground extension of that ore body. At Cracow, this is the best operating mine currently in the business. The team is doing exceptionally well in managing cost, managing production, managing compliance to plan, and have achieved 13,000 ounces of gold.
What we're also seeing, you would have remembered in the first 2 or 3 quarters, we talked about the reconciliation between grade control drilling and actual grades mined was always a challenge. We've now got that under control. We're getting very good reconciliation, we know where we mine and what we're getting. Now what is happening now that there's time and effort, we can look at these new opportunities that has been identified. You can see on that slide on the right-hand side. Drilling is underway, and testing new areas we think there might be opportunities to extend that Western Vein field even further from what it is today. We have revised the capital guidance, as you can see, and a lot of that is purely looking at, do we have to spend the money?
Can we move it out, or can we just don't have to do everything? The team has really worked hard. As I said before, the Cracow model has been for a long time, you need to make money to put in exploration. At these gold prices, they're actually starting to generate money and spend money on exploration. Interesting new technology, for me, it's new at least, at the Southern Vein, which we now focus on because that is where we still have a view that that's our best exploration target really in the business. They did a ANT or ANT survey. That image on the right-hand side is the 1st data from that. It's all trying to identify where the structural geology is moving to the south.
That's just the 1st pass, but with that, with other work, will drive the exploration plan to test that Southern Vein zone. Golden Plateau story remains high priority. The idea with Golden Plateau is we've now got a resource on it, put an exploration drive in, drill it out, and then start mining it as quickly as you can. Because there's some potential for 3+4 around 4%, 4 gram of ton gold, or 3 to 4 gram of ton gold sitting in those, in the Golden Plateau deposit, and then you bring that into production while you've still got some tons in the Western Vein field. At a corporate and projects, Stockman is going really well. Feasibility study, as I said, we had a detailed full day review, last couple of weeks. The permitting is underway.
We're doing now some technical work on mine drainage. We're doing some more work on the metallurgical processing side of things. We have registered now vegetation clearing offsets. Some of it is already underway, some of it we're still negotiating, but a lot of that work, a leg work has been done and obviously very close to the community. We've got regular quarterly meetings with representatives and that project is going to plan and still on track for a study to be finished by the end of June. That photo on the right-hand side is an interesting photo. That's the current infrastructure. You can see the roads, you can see where the plant site's going, you can see the TSF at the back, which is already in place.
A lot of that road infrastructure to get to all these mines, Currawong and Wilga, is already in place and has been there for a long time. We'll keep you up to date, but really it is all, we have good meetings next week with the government to make sure there's alignment. We have yet to see any reason why we can't do this. Everything's on track to deliver this project. At a corporate level, you can see the cash. We talked about it. The cash on C was at AUD 56. We got a bit of hedging left, so there's some gold hedging, which is obviously out of the money at this point in time, AUD 2,700.
At least the copper hedging at 2,000 tons at $13,200 is in the money. We haven't got any hedging at this stage planned post-June, but we always look at opportunity and being a bit opportunistic on hedging. That will be part of when we finalize the budget for FY 2024. I guess the key takeaway is, for me, Cracow and Jag have done a great job. They're well on track on guidance. Tritton had its issues, but we can really see the light at the end of the tunnel now with Budgerygar and Avoca Tank coming online in production this quarter.
What I need to probably stress is the production from Mt Colin, which is on stockpile, plus the delayed production out of Tritton and Budgerygar is not lost, it will just come in the Q1 . That what we don't mine in this quarter will just be in the next quarter, unfortunately it falls over financial years. On the exploration side, we talked about the success, there's a clear exploration strategy for each one of these mines to keep delivering successful exploration and then extend the mine life of these businesses. I guess that sort of summarized the quarterly results.