Aeris Resources Posts 10.1kt Copper Equivalent Production in Q2 FY26
Aeris Resources delivered steady copper and gold output in Q2 FY26, achieving a debt-free balance sheet and a robust cash position. Exploration drilling at Tritton signals promising resource extensions.
- Q2 copper equivalent production of 10.1kt
- Debt fully repaid following $80M placement and $21.6M SPP
- Tritton copper production at 5.0kt with AISC of A$3.94/lb
- Cracow gold production ahead of plan at 11.1koz with AISC of A$3,278/oz
- North Queensland asset divestment expected to complete next quarter
Operational Performance and Financial Strength
Aeris Resources has reported a solid operational and financial performance for the second quarter of fiscal year 2026. The company produced 10.1 kilotonnes of copper equivalent, maintaining steady output across its two main operations, Tritton in New South Wales and Cracow in Queensland. Notably, copper production at Tritton reached 5.0 kilotonnes at an all-in sustaining cost (AISC) of A$3.94 per pound, aligning with management’s expectations despite a planned reduction due to waste stripping at the Murrawombie Pit.
Gold production at Cracow exceeded forecasts, delivering 11,100 ounces at an AISC of A$3,278 per ounce. This performance was supported by efficient cost management and operational discipline, with the tailings storage facility lift completed ahead of schedule and exploration drilling commencing at the Golden Plateau pit target.
Balance Sheet and Capital Management
Financially, Aeris has strengthened its position considerably. The company successfully completed an $80 million placement and a $21.6 million share purchase plan, bolstering its cash reserves to $106.4 million by the end of the quarter. Importantly, Aeris repaid and cancelled its $40 million WHSP loan facility, rendering the company debt free for the first time in recent years. This deleveraging provides a solid foundation for future growth and operational flexibility.
Exploration and Growth Prospects
Exploration remains a key pillar of Aeris’s strategy. Drilling programs at Tritton have yielded encouraging results, with high-grade copper intersections extending the resource base at Avoca Tank and Budgerygar. These findings suggest potential for resource extensions that could underpin mine life extensions and production growth. At Cracow, the Golden Plateau drilling program aims to test remnant mineralisation around historic stoping areas, a critical step toward sustaining the mine’s long-term viability.
Meanwhile, the company is progressing its divestment of North Queensland exploration assets, expected to complete in the next quarter, which will further streamline the portfolio and focus capital on core operations and development projects such as Constellation and Stockman.
Outlook and Strategic Focus
Looking ahead, Aeris is focused on operational delivery, life extensions through greenfield exploration, and maintaining a strong balance sheet. The company plans to repay remaining debt by August 2026 and is considering hedging strategies to manage commodity price volatility. The successful completion of the Constellation development consent and ongoing resource drilling underpin a growth platform that could enhance shareholder value over the medium term.
Bottom Line?
Aeris’s debt-free status and promising exploration results set the stage for a pivotal year ahead.
Questions in the middle?
- How will the North Queensland divestment proceeds be allocated?
- What impact will the rail bridge fire have on concentrate sales and cash flow in coming quarters?
- Can exploration success at Tritton and Cracow translate into meaningful mine life extensions?
