Aeris Resources Limited · ASX:AIS
Aeris Resources — Brisbane Mining Club (October 2022)
39 slides from Aeris Resources's conference presentation, Oct 28, 2022
Slide 1: Brisbane Mining Club Presentation
Brisbane Mining Club Presentation 27 October 2022 Presented by: Andre Labuschagne Aeris Resources Limited
Slide 2: Disclaimer
Disclaimer This investor presentation is dated 16 September 2022 and has been prepared by Aeris Resources Limited (“Aeris” or the “Company”). By attending an investor presentation or briefing, or accepting, accessing or reviewing this presentation, you acknowledge and agree to the terms set out belo
Slide 3: Disclaimer
Disclaimer Production Targets Cautionary Statement The Ore Reserve and Mineral Resource estimates underpinning the Stockman and Tritton Production Targets (refer to slides 13 and 28) were prepared by a Competent Person in accordance with the JORC Code 2012. The material assumptions on which the Prod
Slide 4: Aeris 10 year journey
Aeris 10 year journey From US$134M debt and 1 mine to zero debt and 4 mines 278 Figures taken end of Financial Year
Slide 5: Aeris Resources
Aeris Resources Australian mid-tier base and precious metals producer 4 producing operations 1 long life development project Resources of 780kt Cu, 993kt Zn, 1.4Moz Au1 FY23 production of 57 – 71kt Cu equivalent2 Strong long-term exposure to copper Excellent platform for growth 1. Refer to ASX relea
Slide 6: Corporate overview
Corporate overview Robust balance sheet and supportive shareholder base Capitalisation Shareholders3 Market capitalisation1 $276 million Cash2 $92 million Debt2 - 30% Enterprise value $184 million 44% Broker coverage 22% 4% WHSP Australian Institutions Foreign Institutions Retail & Other 1. As at 26
Slide 7: Sustainability
Sustainability Commitment to transparency, integrity and sustainability Water and Carbon and Diversity and Biodiversity and Containment Climate Change Inclusion Land Using resources Reducing carbon Building more equal, Planning and delivering efficiently in water, footprint and diverse, fair and pos
Slide 8: Sustainability: Tritton water experience
Sustainability Tritton water experience 2019-2020 8
Slide 9: Sustainability: Carbon
Sustainability Carbon - Converted loader to electric loader 9
Slide 10: Sustainability: Diversity and Inclusion
Sustainability Diversity and Inclusion Tritton new local apprentices intake 10
Slide 11: Sustainability: Biodiversity and Land
Sustainability Biodiversity and Land - Tailings management 11
Slide 12: Track record of growing reserve base and mine lives
Track record of growing reserve base and mine lives FY 23 FY 24 FY 25 FY 26 FY 27 FY 28 FY 29 FY 30 FY 31 FY 32 FY 33 FY 34 • Multiple assets with proven track record of mine life extensions including two long life assets 1 Tritton 8 year mine life 2 Cracow 4 year mine life 3 Jaguar 4 year mine life
Slide 13: Tritton
Tritton Cornerstone copper production and 8+ year mine life ✓ Consistently extending mine life through exploration Tritton production profile (kt, Cu)1 1 ✓ Moving to hub and spoke model 30-33 ✓ Bringing high grade ore sources into production, lifting copper 25 23 22-24 production 19-23 18.6 ✓ Curren
Slide 14: Tritton growth projects
Tritton growth projects Improving ore grades and extending mine life Avoca Tank Displacing 1.1% Cu from Tritton deeps with: Tritton and Budgerygar • 1.8% Cu ore from Budgerygar (in production)1 • 2.5% Cu and 0.8g/t Au ore from Avoca Tank (in production Q4 FY23)1 • Extending Tritton deeps to high gra
Slide 15: Constellation deposit
Constellation deposit New potential mine • Located 45km northeast of the Tritton plant • Mineral Resource1 of 6.7Mt at 1.85% Cu and 0.58g/t Au ‒ Containing 123kt copper and 125koz gold ‒ Approximately 3.1Mt of oxide, supergene and primary mineralisation is open pittable • Resource extended from near
Slide 16: Tritton exploration pipeline
Tritton exploration pipeline Focus to the north • Highly endowed region and 2,330km2 tenement package • 750kt copper already discovered and produced from deposits south of the Mitchell Highway • Constellation discovered in 2019 – looking for repeats • EM survey completed on northern tenements – awai
Slide 17: Cracow
Cracow High-grade gold mine with long history of reserve replacement ✓ Mature operation with high quality infrastructure ✓ Declining grades in the Western Vein Field ✓ Reinvesting cash flows in exploration ✓ Golden Plateau is high priority target ✓ Southern Vein Field underexplored due to thick cove
Slide 18: Aeris
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Slide 19: Cracow growth projects
Cracow growth projects Golden Plateau – potential new ore source • Located only 1km from the Cracow mill • Crosscutting structures host high-grade mineralisation away from the historic mining footprint • Current drilling is targeting 5 priority lodes • Recent drill intersections1 include: • 8.9m at
Slide 20: Jaguar
Jaguar Consistent, polymetallic underground mine ✓ Investing to extend Bentley operations at depth ✓ New Turbo lens discovered in 2021 to extend Bentley mine life ✓ Other high grade exploration targets at depth at Bentley ✓ Investigating potential at the closed Jaguar copper mine 20
Slide 21: Ze Nets
Ze Nets
Slide 22: Jaguar growth projects
Jaguar growth projects Significant resource growth potential at depth • Bentley deposit open along strike and down plunge • The high grade Turbo lens is a priority target – resource update planned for later in the year • New target Java Deeps also returned high-grade intersections1: ‒ 7.1m at 2.15%
Slide 23: North Queensland
North Queensland Cash generative copper-gold mine and large exploration portfolio ✓ Harvesting cash from Mt Colin mine to fund other group capital developments ✓ Potential underground operation at Barbara ✓ Large tenement package in highly prospective region to be explored ✓ Strategy to build a pipe
Slide 24: Aeris Resources
A Aeris RESOURCES 24
Slide 25: North Queensland growth projects
North Queensland growth projects Near-term potential at Barbara and large regional portfolio Barbara • Open pit mining finished in Dec 2020 • Mineralisation extends below current pit and is open at depth • Mining study on a potential underground operation of similar scale to Mt Colin • Drill program
Slide 26: Stockman
Stockman High-grade, long life, polymetallic development project ✓ Mining Lease – approved ✓ Infrastructure Lease for tailings dam – approved ✓ Project work plan – approved ✓ High-grade, +10 year Ore Reserve of 9.6Mt at 2.9% CuEq (recovered)1 ✓ Significant onsite road infrastructure already in place
Slide 27: Stockman
Stockman Wilga mine targeting ~200ktpa Advanced technical studies • Underground mining operations at the Wilga and Currawong deposits targeting 1Mtpa • Conventional flotation plant to produce copper and zinc concentrates with significant precious metals by-products Currawong mine targeting ~800ktpa
Slide 28: Stockman
Stockman Indicative Production (kt, CuEq) 1,2 Clear path to development 40 • Definitive feasibility study underway and due 35 for completion FY23 30 • Opportunities to extend mine life with Bigfoot and Eureka resources 25 • Highly prospective tenements with over 50 20 drill targets identified 15 10
Slide 29: The Market
Aeris Resources The Market 29
Slide 30: Global mining sector themes
Global mining sector themes Decarbonisation will drive demand over the next 10 years Source: Capital IQ, Jefferies research. (1) International Energy Agency. (2) Benchmark Minerals Intelligence. 30
Slide 31: Global mining sector themes
Global mining sector themes Grades declining incentive price remains constructive (4) (3) Gavin Mudd, Monash University. Jefferies Australia (4) Capital IQ. 31
Slide 32: Global mining sector themes
Global mining sector themes Industry slow to respond, technology the future (5) (5) Jefferies research 32
Slide 33: Thank you
Thank you Are there any questions? Aeris Resources Limited Level 2, HQ South Tower 520 Wickham Street Fortitude Valley Brisbane QLD, 4006 +61 7 3034 6200 Facebook | facebook.com/aeristritton/ Linkedin | linkedin.com/company/aeris-resources-limited/ info@aerisresources.com.au Public Relations Madelei
Slide 34: Appendix
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Slide 35: Group guidance
Group guidance FY23 Guidance FY22A Production Copper kt 32 - 40 18.6 Zinc kt 24 - 29 0.0 Gold koz 60 - 78 58.2 Silver Moz 1.1 - 1.3 0.1 Operating Costs Mining $M 229 - 277 147 Processing $M 98 - 120 53 Site G&A $M 69 - 83 30 TC/RCs $M 37 - 45 11 Product handling $M 41 - 49 18 Capital Costs Sustainin
Slide 36: Group Mineral Resources
Group Mineral Resources Grade Contained Metal Project Category Tonnes ('000) % Cu % Zn g/t Au g/t Ag kt Cu kt Zn koz Au koz Ag Tritton Measured 2,311 1.2 - 0.1 2.7 27 - 6 201 Indicated 11,252 1.4 - 0.3 4.3 158 - 111 1,564 Inferred 9,334 1.7 - 0.4 4.0 159 - 119 1,188 Total 22,896 1.5 - 0.3 4.0 344 -
Slide 37: Group Ore Reserves
Group Ore Reserves Grade Contained Metal Project Category Tonnes ('000) % Cu % Zn g/t Au g/t Ag kt Cu kt Zn koz Au koz Ag Tritton Proved 1,085 1.2 - 0.1 2.4 13 - 2 84 Probable 3,717 1.4 - 0.3 3.5 53 - 41 420 Total 4,802 1.4 - 0.3 3.3 67 - 43 504 Cracow Proved 199 - - 4.0 - - - 26 - Probable 622 - -
Slide 38: Highly experienced board and management
Highly experienced board and management Board of Directors Andre Labuschagne – Executive Chairman Sylvia Wiggins – Non-Executive Director Robert Millner – Non-Executive Director Experienced mining executive with a career A senior executive and investment banker with a Chairman of WHSP. Extensive exp
Slide 39: Copper equivalent calculation
Copper equivalent calculation Copper Equivalent Calculation In this presentation, production is presented on a recovered CuEq metal produced basis and AISC costs are presented on a payable CuEq metal Recovery Factors by Operation FY21 FY22 FY23 LOMP sold basis. Recovery Factor Zinc Tritton % Recover
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