Aeris Resources (AIS) Q1 2025 earnings summary

Executive summary

• Group copper equivalent production reached 10.2kt for the quarter, with improved all-in sustaining cost (AISC) of A$5.32/lb, reflecting strong operational performance.

• Tritton and Cracow operations exceeded internal production plans, with Tritton producing 5.0kt copper and Cracow delivering nearly 13,000 oz of gold; Mt Colin met mining targets but faced processing challenges due to oxidised ore.

• Jaguar remains on care and maintenance, with a preferred restart scenario to be presented to the Board; Stockman feasibility work is ongoing.

• Cash and receivables increased to $39.1M, supported by strong commodity prices, with a stable debt position of $40M.

• Management team strengthened with new COO and executive appointments.

Financial highlights

• Cash and receivables rose from $33.4M to $39.1M, with $25.5M in unrestricted cash at quarter-end.

• Environmental bonds increased by $2M to $12M in restricted cash.

• Debt position remains at $40M, with refinancing and bonding facility extension in progress.

• Operating costs decreased quarter-on-quarter across mining, processing, and site G&A.

Outlook and guidance

• FY25 group production guidance: 27–32kt copper, 50–62koz gold, 200–240koz silver, and 40–48kt copper equivalent.

• Tritton guidance for FY2024/25 is 21,000–25,000 tonnes of copper, 7–9koz gold, and 200–240koz silver.

• Cracow expected to produce 40,000–49,000 oz of gold; North Queensland: 6–7kt copper, 3–4koz gold.

• Mt Colin mining to finish in November, with significant ore stockpiles for processing in the next quarter.

• Budgerygar and Murrawombie open-pit cutback to drive stronger second-half production at Tritton.