How Will Aeris Resources Translate $80M Raise Into FY26 Growth?
Aeris Resources reported solid FY25 results within guidance and secured $80 million in new equity to fund exploration and development projects, positioning itself for significant growth in FY26.
- FY25 production of 42.1kt copper equivalent within guidance
- Raised $80 million via placement plus $10 million share purchase plan
- FY26 copper equivalent production guidance increased to 40-49kt
- Focus on extending mine life and resource growth at Tritton and Cracow
- Strategic asset divestments and debt repayment strengthen balance sheet
Strong FY25 Performance and Financial Position
Aeris Resources has delivered a robust FY25 performance, producing 42.1 thousand tonnes of copper equivalent, comfortably within its guidance range. The company reported increased revenue of $577.1 million and an EBITDA of $160.5 million, reflecting higher commodity prices offsetting slightly lower production volumes. With a cash balance of $62 million and zero debt following repayment of a $40 million facility, Aeris enters FY26 with a strengthened financial footing.
Capital Raising to Fuel Growth
In a strategic move to underpin its growth ambitions, Aeris completed an $80 million placement and is conducting a $10 million share purchase plan. The proceeds are earmarked for exploration drilling at key assets such as Cracow, advancing early works at the Constellation project, and resource extension drilling at Tritton. This capital injection supports the company’s commitment to de-risk development projects and sustain operational momentum.
Operational and Development Highlights
The company’s two producing operations, Tritton in New South Wales and Cracow in Queensland, remain the backbone of its production profile. Tritton is expected to increase copper output by 37% in FY26, benefiting from stockpiled ore and mill capacity running above nameplate. Meanwhile, Cracow continues as a high-margin gold producer with guidance of 36-46koz gold for FY26. The Constellation project, with a maiden ore reserve declared, is poised for a major capital spend starting FY27, following environmental and mining approvals anticipated in Q3 FY26.
Strategic Asset Management and Exploration Focus
Aeris is actively divesting non-core North Queensland exploration assets for up to $15.5 million, expected to complete by December 2025. This aligns with its strategy to focus on core operations and growth projects. Exploration remains a priority, with an ambitious 80,000 metres of underground diamond drilling planned at Tritton to extend mine life and resource base. The company is also exploring partnership opportunities at the Stockman project to unlock long-term value.
Outlook and Market Positioning
With a market capitalization near $488 million and substantial tax losses of $434 million, Aeris is well positioned to capitalise on favourable commodity markets. The company’s FY26 guidance anticipates copper equivalent production between 40-49kt, supported by sustained capital investment and exploration. Aeris’ balanced approach of operational delivery, disciplined capital management, and strategic growth initiatives sets a promising stage for the year ahead.
Bottom Line?
Aeris Resources is gearing up for a pivotal year, balancing strong production growth with strategic investments and asset optimisation.
Questions in the middle?
- How will commodity price volatility impact Aeris’ FY26 earnings and project economics?
- What progress will be made on securing a strategic partner for the Stockman project?
- Can exploration drilling at Tritton and Cracow extend mine life beyond current expectations?
