Aeris Resources reported a robust June 2025 quarter with increased copper and gold production, improved cost efficiencies, and successful refinancing, while advancing exploration at key projects.
- Group copper equivalent production rises to 10.9kt with AISC improving to A$4.50/lb
- Tritton operations exceed processing capacity, producing 6.2kt copper at A$4.22/lb AISC
- Cracow gold output up 22% to 11.0koz with reduced AISC of A$3,075/oz
- North Queensland and Jaguar assets remain on care and maintenance with divestment options pursued
- Refinancing completed, cash and receivables increase to $49.5 million
Strong Production and Cost Performance
Aeris Resources Limited delivered a solid performance in the June 2025 quarter, reporting group copper equivalent production of 10.9 kilotonnes at an improved all-in sustaining cost (AISC) of A$4.50 per pound of copper equivalent. This marks a continuation of operational efficiencies and cost control across its portfolio.
The Tritton operations in New South Wales were a standout, producing 6.2 kilotonnes of copper; a 44% increase quarter-on-quarter; while reducing AISC by 31% to A$4.22 per pound. The processing plant exceeded its nameplate capacity, achieving an annualised throughput above 2 million tonnes per annum, supported by additional ore from the Murrawombie open pit. Stockpiles of mined ore are positioned to support production into the next fiscal year.
Cracow Gold Operations Advance
In Queensland, the Cracow gold operations reported a 22% increase in gold production to 11,000 ounces, with AISC dropping 12% to A$3,075 per ounce. The commissioning of a secondary cyclone and debottlenecking of the regrind mill contributed to improved metallurgical recoveries. Regulatory approval for the next lift of the tailings storage facility has been secured, with construction underway, ensuring ongoing operational capacity.
Exploration and Development Progress
Exploration efforts continue to advance at key projects. At Tritton, resource definition drilling at the Avoca Tank deposit is underway, targeting extensions below the current mineral resource base. Regional geological studies are refining greenfield exploration strategies, with early-stage drilling planned for FY26.
At the Jaguar operations in Western Australia, exploration drilling at the Holey Moley gold prospect confirmed continuity of mineralisation along a key structural trend, despite sub-economic assay results. Eight high-priority base metal targets have been identified for drilling in FY26, supported by recent gravity surveys and rock chip sampling.
Financial Position and Corporate Developments
Financially, Aeris strengthened its position with cash and receivables increasing to $49.5 million by quarter-end. The company successfully refinanced its corporate guarantee facilities, replacing a $50 million facility with a $60 million guarantee facility from Washington H. Soul Pattinson, and extended the term of a $50 million loan facility. Operational cash flow was $34 million, with timing of receipts influencing quarter-on-quarter variations.
Meanwhile, the North Queensland assets remain on care and maintenance as the company explores divestment options. No material operational activity occurred during the quarter at these sites.
Safety and Environmental Stewardship
Aeris reported no lost time injuries during the quarter, with the group’s lost time injury frequency rate (LTIFR) improving to 1.3. There were no reportable environmental incidents, underscoring the company’s commitment to safe and responsible operations.
Bottom Line?
Aeris Resources’ operational gains and financial strengthening set a positive stage, but upcoming exploration results and divestment decisions will be critical to sustaining momentum.
Questions in the middle?
- How will the divestment of North Queensland assets impact Aeris’ future cash flow and focus?
- What are the prospects for converting early-stage exploration targets at Jaguar into viable resources?
- Can Tritton’s processing plant sustain throughput above nameplate capacity in the longer term?