Aeris Resources (AIS) Mining Forum Americas 2026 summary

Operational performance and growth

• Achieved 42,000 tn copper equivalent production in 2026, with plans to increase to 55,000 tn in three years and 80,000 tn in five years through organic growth and new projects.

• Completed acquisition of Peel Mining Limited, extending Tritton's life and integrating new resources.

• Significant reserve upgrade at Tritton, increasing from 2.4 million tonnes in 2024 to 10 million tonnes, supporting a six-year reserve life and 33 million tonnes in resources.

• Constellation deposit to become a key baseload asset, with production starting by March and a projected 12-15+ year mine life.

• Mallee Bull acquisition adds 2.7 million tonnes at 2.4% copper, expected in production within three years.

Exploration and resource development

• Invested AUD 25 million in exploration, focusing on Tritton and Cracow, resulting in significant resource and reserve growth.

• Drilling at Avoca Tank and Budgerygar nearly doubled reserves, with ongoing conversion of resources to reserves.

• Cracow mine's life extended to six-plus years, with Golden Plateau deposit targeted for new mine plan and production.

• Initiating drilling in the Southern Vein Field at Cracow, considered high-potential greenfields exploration.

• Jaguar mine exploration targets both base metals and gold, with drilling underway in a 62 km greenstone belt.

Financial position and strategic initiatives

• Maintains a strong balance sheet with zero debt, AUD 200 million in cash and receivables, and AUD 285 million EBITDA as of June.

• Market cap around AUD 700 million, with significant tax losses and recent major shareholder sell-down impacting share price.

• Portfolio simplification ongoing, including sale of non-core tenements and focus on high-potential assets.

• Annual exploration budget set at AUD 25-30 million to sustain resource growth.