How Will Aeris Resources Unlock Growth with Tritton and Constellation in FY26?
Aeris Resources has outlined a robust FY26 plan focusing on increased copper equivalent production and strategic asset management, aiming to enhance shareholder value through operational delivery and exploration.
- FY26 copper equivalent production guidance of 40-49kt
- 37% production increase targeted at Tritton mine
- Advancement of Constellation project with major capital spend planned
- Divestment of non-core North Queensland assets underway
- Debt repayment targeted by August 2026
Aeris Resources’ Strategic Outlook for FY26
Aeris Resources Limited presented its FY26 operational and financial guidance at the Noosa Mining Conference on 25 July 2025, reaffirming its position as a mid-tier Australian base and precious metals producer. The company is targeting copper equivalent production between 40,000 and 49,000 tonnes, driven primarily by increased output from its flagship Tritton and Cracow operations.
The Tritton mine in New South Wales is a cornerstone asset for Aeris, with FY26 guidance projecting a 37% increase in copper production to between 24,000 and 29,000 tonnes. This uplift is supported by stockpiled ore from the Murrawombie Pit and operational improvements that enable the mill to run above its nameplate capacity. The Constellation project, located near Tritton, is advancing with an updated mineral resource estimate and studies underway to optimize open pit and underground mining options. Major capital expenditure is expected to commence in FY27 following environmental and mining approvals.
Cracow and Exploration Drive Growth
The Cracow gold mine in Queensland continues to contribute significantly, with FY26 gold production guidance of 36,000 to 46,000 ounces. Despite a slight decrease from the previous year, increased ore throughput and improved recovery rates are expected to sustain operational performance. Exploration remains a key focus, with Aeris planning extensive underground drilling programs aimed at extending mine life and identifying new resources across multiple deposits, including Avoca Tank and Budgerygar.
Exploration efforts also extend to the Jaguar project, where Aeris is pursuing new base metals targets and considering joint ventures for gold rights to minimize expenditure while unlocking value. The company is also progressing studies on the Stockman polymetallic project, exploring strategic partnerships to fund technical work and development.
Portfolio Simplification and Financial Discipline
In line with its strategy to focus on core assets, Aeris is divesting its North Queensland portfolio, including the Barbara project, to streamline operations and release capital. Indicative offers have been received, with potential transaction completion anticipated later this year. The sale is expected to unlock approximately A$6.5 million in restricted cash tied to environmental bonds.
Financially, Aeris plans to manage operating costs between A$302 million and A$369 million, with sustaining and growth capital expenditures totaling A$140 million to A$173 million. The company aims to repay its debt by August 2026, supported by asset sales and operational cash flow. While the presentation reiterates prior mineral resource and reserve estimates without material changes, it underscores the company’s commitment to exploration investment and operational delivery as key drivers for shareholder value.
Bottom Line?
Aeris Resources is positioning itself for growth through operational efficiency, strategic asset management, and disciplined financial stewardship as it moves into FY26.
Questions in the middle?
- How will regulatory approvals for the Constellation project impact the timeline and capital deployment?
- What are the prospects and potential partners for the Stockman project’s development?
- How will the divestment of North Queensland assets affect Aeris’s long-term growth profile?