Aeris Resources (AIS) H2 2024 earnings summary

Executive summary

• Achieved group production and costs in line with market guidance, with significant operational improvements year-over-year.

• Tritton copper production increased to 19.7kt, meeting guidance; Cracow gold production at 45.7koz, near upper end of guidance.

• Jaguar transitioned to care and maintenance; feasibility studies for restart and growth projects advanced.

• Strong focus on safety, diversity, and sustainability, with improved LTIFR and increased female and Indigenous participation.

Financial highlights

• Adjusted EBITDA rose to $107.0m, up from $32.0m in FY23.

• Net loss after tax improved to $24.3m from $139.8m loss in FY23.

• Revenue declined to $540.0m (FY23: $612.5m) due to Jaguar's transition and lower North Queensland output.

• Net cash from operating activities increased to $62.5m (FY23: $59.3m).

• Net assets at $271.8m, up from $266.4m in FY23.

Outlook and guidance

• Focus on feasibility and permitting for Barbara and Stockman projects.

• Jaguar restart options under review, with studies ongoing.

• Continued investment in exploration to extend mine lives and support future growth.