Aeris Reports 10.1kt Copper Equivalent Production at A$4.21/lb AISC

Steady Production Performance

Aeris Resources Limited reported a steady operational quarter ending December 2025, producing 10.1 kilotonnes of copper equivalent at an all-in sustaining cost (AISC) of A$4.21 per pound. The company’s flagship Tritton operations in New South Wales delivered copper production and costs in line with expectations, while the Cracow gold mine in Queensland outperformed production forecasts, generating 11,100 ounces of gold with costs well managed and consistent with the plan.

Despite a slight quarter-on-quarter dip in copper output due to processing of stockpiled ore and a planned mill shutdown, the Tritton site maintained operational discipline. Waste stripping at Murrawombie Pit Stage 2 is underway, with sulphide ore delivery scheduled for the next quarter, supporting a positive outlook for production continuity.

Financial Strength and Capital Management

Financially, Aeris strengthened its position significantly. The company completed an $80 million placement alongside a $21.6 million oversubscribed share purchase plan, boosting cash and receivables to $106.4 million. This robust capital inflow enabled Aeris to fully repay and cancel its $50 million loan facility with Washington H. Soul Pattinson, materially reducing leverage and expected to save approximately $6 million in interest and fees annually.

However, the quarter was not without challenges. Rail disruptions caused by a fire on a key rail bridge delayed concentrate shipments, resulting in an $18 million stockpile of un-invoiced concentrate. While trains resumed normal schedules in January, the company will continue to monitor the situation closely to mitigate any ongoing impacts on revenue and cash flow.

Exploration Success Fuels Growth Prospects

Exploration remains a key pillar of Aeris’s growth strategy. Encouraging drilling results from the Avoca Tank and Budgerygar deposits at Tritton have revealed high-grade copper intersections below current mineral resources, suggesting potential resource expansions. At Avoca Tank, new mineralisation zones have been identified, and a 13-hole program is underway to better define these targets.

Similarly, Budgerygar drilling has returned thicker-than-expected copper sulphide intersections, with ongoing programs aimed at upgrading resource classifications and extending mineralisation depth. Meanwhile, at Cracow, drilling has commenced at the Golden Plateau open pit target, focusing on remnant mineralisation and geological modelling to support future mine planning.

Corporate and Operational Updates

On the corporate front, Aeris announced the resignation of Non-Executive Director Robert Millner AO, with a search for a replacement underway. The company continues to manage its North Queensland and Jaguar projects on care and maintenance, with divestment and strategic initiatives progressing.

Environmental and safety metrics showed one lost time injury at Tritton and a contained environmental incident involving contaminated water release, both managed within regulatory requirements. The company’s commitment to operational safety and environmental stewardship remains evident.

Outlook

With a deleveraged balance sheet, solid production performance, and promising exploration results, Aeris Resources is well positioned to advance its growth projects and enhance shareholder value. The upcoming quarters will be critical to monitor the impact of exploration success on resource upgrades and the resolution of logistical challenges affecting concentrate sales.