Aeris Resources (AIS) Q1 2026 earnings summary

Executive summary

• Group copper equivalent production reached 10.3kt in Q1 FY2026, with solid operating performance at Tritton and Cracow, and no lost time injuries reported.

• Cash and receivables at quarter-end totaled $46.4 million, with unrestricted cash at $32.0 million and operating cash flow of $53.1 million.

• Strategic focus on resource extensions, mine life increases, and divestment of non-core North Queensland assets, with divestment options being advanced.

• Significant growth capital invested, including $25 million for Murrawombie Pit waste stripping, with ore delivery expected in H2 FY2026.

• No lost time injuries or reportable environmental incidents; LTIFR steady at 1.3.

Financial highlights

• Q1 copper equivalent production: 10,300 tonnes; Tritton produced 6.1kt copper at AISC of A$4.24/lb; Cracow delivered 8.9koz gold at AISC of A$3,692/oz.

• Cash and receivables at quarter-end: $46.4 million; closing cash position: $32.0 million.

• Operating cash flow for the quarter was $53.1 million; total mine operations costs were A$79.0 million.

• Growth capital investment: nearly $30 million, including $25 million for Murrawombie Pit and $5 million for Cracow tailings dam.

• By-product credits from gold and silver at Tritton: $15 million for the quarter, annualized over $60 million.

Outlook and guidance

• FY2026 group copper equivalent production guidance: 40–49kt; Tritton copper: 24–29kt; Cracow gold: 36–46koz; silver: 240–293koz.

• Operating cost guidance for FY2026: Tritton $207–253 million, Cracow $95–116 million; group AISC expected between A$4.50–4.64/lb Cu eq.

• Capital expenditure guidance: Tritton sustaining $39–48 million, growth $58–71 million, exploration $10–12 million.

• Second half of FY2026 expected to see significant production uplift as Murrawombie Pit ore comes online.

• Exploration and drilling programs to drive future resource growth at both Tritton and Cracow.