Aeris Resources Limited · ASX:AIS
Aeris Resources — Investor Presentation (May 2022)
43 slides from Aeris Resources's investor presentation, May 3, 2022
Slide 1: RIU Sydney Resources Round-up
RIU Sydney Resources Round-up Aeris makes another transformational acquisition 3 May 2022 Presented by : Andre Labuschagne
Slide 2: Important notice and disclaimer
Important notice and disclaimer This presentation may contain certain statements and projections provided by or on behalf of Aeris Resources Limited (Aeris) with respect to the anticipated future undertakings. These forward- looking statements reflect various assumptions by or on behalf of Aeris. Ac
Slide 3: Important Information and disclaimer
Important Information and disclaimer JORC code It is a requirement of the ASX Listing Rules that the reporting of ore reserves and mineral resources in Australia comply with the Joint Ore Reserves Committee’s Australasian Code for Reporting of Mineral Resources and Ore Reserves ("JORC Code"). Invest
Slide 4: Transaction Summary & Highlights
Transaction Summary & Highlights
Slide 5: A transformational acquisition, creating Australia's next mid-tier base and precious metals producer
A transformational acquisition, creating Australia’s next mid-tier base and precious metals producer • Aeris to acquire Round Oak Minerals (“ROM”), an Australian-based copper and zinc producer, from Washington H. Soul Pattinson (“WHSP”) for $234 million ‒ Acquisition consideration comprises $80 mill
Slide 6: Significantly increase scale and mine life, providing immediate uplift in cash flow
Significantly increase scale and mine life, providing immediate uplift in cash flow to establish a financial base to support growth Consistent with stated strategy to acquire advanced base metals assets in Australia 1 “On strategy” for Aeris Upgrades asset portfolio quality and provides multiple
Slide 7: Attractive and diversified commodity mix post Transaction
Attractive and diversified commodity mix post Transaction Aeris Round Oak Aeris (pro forma) 15% 27% FY23 Production 36% by Commodity 35kt 28kt 56% 63kt 29% (kt CuEq)1 64% 13% 60% 11% 13% 19% Ore Reserves by Commodity 79kt 339kt 53% 29% 418kt 36% 58% (kt CuEq)1 81% 25% 13% 17% Mineral Resources Coppe
Slide 8: Diversified portfolio of four producing mines and a long life development asset
Diversified portfolio of four producing mines and a long life development asset with exploration upside across the portfolio Mt Colin Mine (100%) Mine Type U/G Cu, Au FY22F Production (CuEq)1 9.7kt Cracow Operations (100%) FY23F Production (CuEq)1 12.5kt Mine Type U/G Au Mine Life 2 years FY22F Prod
Slide 9: Long mine life profile
Long mine life profile Multiple assets with proven track record of mine life extensions including two long life assets Group mine life profile FY FY FY FY FY FY FY FY FY FY FY FY FY 22 23 24 25 26 27 28 29 30 31 32 33 34 8+ year mine life from known deposits 1 Tritton 8+ year mine life Budgeryga
Slide 10: Material improvement in all metrics
Material improvement in all metrics Mineral Resources (kt, CuEq)1 Ore Reserves (kt, CuEq)1 FY23F Production (kt, CuEq)1 1,094 418 63 219% 426% 81% 28 751 35 339 343 79 35 343 79 Pre-Transaction Post-Transaction Pre-Transaction Post-Transaction Pre-Transaction Post-Transaction Mineral Resources Grade
Slide 11: Enhanced portfolio and scale improves investor relevance
Enhanced portfolio and scale improves investor relevance Aeris benchmarking against ASX listed peers indicates re-rating potential FY23F Production (kt, CuEq)1, 2 Market capitalisation5 187 8,928 112 2,132 87 63 1,444 47 35 556 544 9 271 122 OZL SFR 29M AIS Pro Forma AMI AIS RVR OZL SFR 29M AIS Pro
Slide 12: Overview of Round Oak Minerals
Overview of Round Oak Minerals
Slide 13: Jaguar Operations
Jaguar Operations High-quality asset producing zinc and copper concentrates, also containing significant precious metals credits Overview of Jaguar Operations Location of Jaguar Operations Established underground zinc, copper and silver mines located 65km north of Leonora in WA Established 600kt
Slide 14: N-W Queensland Operations
N-W Queensland Operations Established copper production hub located in highly-endowed Mt Isa and Cloncurry regions Asset Mt Colin Barbara Other Exploration Open pit completed Status Operating Exploration Underground study complete Hazel Creek, Central Key Deposits / Mt Colin Barbara Exploration Area
Slide 15: Stockman – high grade, long-life development project
Stockman – high grade, long-life development project Attractive development operation targeting first production mid-FY25 Stockman is a high-grade, polymetallic development project located near Indicative Production (kt, CuEq) 1,2 Omeo in North-Eastern Victoria 40 14.8Mt Mineral Resource with co
Slide 16: Update on Aeris
Update on Aeris
Slide 17: Tritton Copper Operations
Tritton Copper Operations Established copper mine in highly prospective region Established underground copper mines and 1.8 Mtpa processing plant in Tritton production profile (kt, Cu) 1 Western NSW – Operating since 2005 with >320kt Cu produced 30-33 Highly endowed region and 2,330km2 tenement
Slide 18: Cracow Gold Operations
Cracow Gold Operations A high-grade, low-cost gold mine in Queensland, Australia with a proven operating history Location 500km NW of Brisbane, Queensland Cracow production profile (koz) Ownership 100% Tenement Package 18 MLs + 3 EPMs covering 903km2 91 Orebody Low-sulphidation epithermal 93 73 Oper
Slide 19: Forward plan
Forward plan Aeris’ key focus is to upgrade mining inventory to extend production forecast and continued exploration to add mine life across portfolio Current 8+ year mine life from known deposits Updated 4 year production forecast to FY25 increasing to 30ktpa Cu1 Group pro forma production prof
Slide 20: Thank you
We are Aeris
Slide 21: A. Mineral Resource and Ore Reserve Statements
A. Mineral Resource and Ore Reserve Statements
Slide 22: Tritton Mineral Resource
Tritton Mineral Resource June 2021 Tonnes (kt) Cu (%) Cu (kt) Au (g/t) Au (koz) Ag (g/t) Ag (koz) Tonnes (kt) Cu (%) Cu (kt) Au (g/t) Au (koz) Ag (g/t) Ag (koz) Tritton Underground Avoca Tank Measured 3,500 1.3 45 0.1 11 3.6 400 Measured - - - - - - - Indicated 840 1.2 10 0.1 2 2.3 63 Indicated 770
Slide 23: Tritton Mineral Resource
Tritton Mineral Resource December 2021 Budgerygar Deposit Au metal Resource Category Tonnage (kt) Cu (%) Cu metal (kt) Au (g/t) Ag (g/t) Ag metal (koz) (koz) Measured - - - - - - - Indicated 720 1.7 12 0.4 10 10.3 240 Inferred 1,900 1.4 27 0.1 6 5.3 320 TOTAL 2,600 1.5 39 0.2 15 6.7 560 Refer to ASX
Slide 24: Tritton Mineral Resource
Tritton Mineral Resource December 2021 Constellation Deposit Cut-off Cu Au Ag Mineralisation Resource Tonnage Cu Au Ag grade metal metal metal type category (kt) (%) (g/t) (g/t) (Cu%) (kt) (koz) (koz) Measured - - - - - - - Oxide Indicated 0.2 1,400 0.4 0.2 0.8 6 7 35 Inferred - - - - - - - Measured
Slide 25: Tritton Ore Reserve
Tritton Ore Reserve 2021 Tritton Tenement Package June 2021 Tonnes (kt) Cu (%) Cu (kt) Au (g/t) Au (koz) Ag (g/t) Ag (koz) Tritton Underground Proved 1,800 1.2 21 0.1 4 3.0 170 Probable 0 0.0 0 0.0 0 0.0 0 TOTAL 1,800 1.2 21 0.1 4 3.0 170 Murrawombie Underground Proved 0 0.0 0.0 0.0 0.0 0.0 0.0 Prob
Slide 26: Cracow Mineral Resource and Ore Reserve
Cracow Mineral Resource and Ore Reserve 2021 Mineral Resource Cracow Tenement Package 2021 Ore Reserve Cracow Tenement Package June 2021 June 2021 Tonnes (kt) Au (g/t) Au (koz) Ag (g/t) Ag (koz) Tonnes (kt) Au (g/t) Au (koz) Cracow CRACOW Measured 200 9.1 59 5.7 37 Proved 172 4.9 27 Indicated 1,400
Slide 27: Round Oak Mineral Resources
Round Oak Mineral Resources Jaguar Operation at 1 May 2021 plus Dec 2021 Resources for Resource for Mt Colin (Northwest Queensland) Turbo and Bentayga Hanging Wall Resource Tonnes Copper Zinc Lead Silver Gold NSR_M Cu Zn Pb Ag Au Class (kt) (%) (%) (%) (g/t) (g/t) (A$/t) kt kt kt Koz koz Measured 58
Slide 28: Round Oak Ore Reserves
Round Oak Ore Reserves As at May 2021 Operation Resource Tonnes NSR Zn Cu Au Ag Zn Cu Au Ag Class (kt) (A$/t) (%) (%) (g/t) (g/t) (kt) (kt) (kozs) (Mozs) Proved 301 316 8.2 1.3 1.1 130 24.7 3.9 10.6 1.3 Jaguar Probable 367 350 10.2 1.2 1.0 137 37.4 4.4 11.8 1.6 (Bentley) Subtotal 667 335 9.3 1.3 1.0
Slide 29: Competent Persons Statement – Aeris assets
Competent Persons Statement – Aeris assets Competent Person’s Statement – Aeris Mineral Resources Mr Cox confirms that he is the Competent Person for the Mineral Resource estimates in respect of Tritton and Cracow summarised in this Report and he has read and understood the requirements of the 2012
Slide 30: Competent Persons Statement – Round Oak assets
Competent Persons Statement – Round Oak assets Competent Person’s Statement – Mineral Resource (Bentley Deposit) The information contained in this report that relates to Mineral Resource Estimates for the Bentley, Turbo and Bentayga HW lenses within the Bentley Deposit is based on information compil
Slide 31: Competent Persons Statement – Round Oak assets (cont.)
Competent Persons Statement – Round Oak assets (cont.) Competent Person’s Statement – Ore Reserves (Bentley Mine) The information contained in this report that relates to Ore Reserves for the Bentley Mine is based on information compiled by Mr Michael Leak in May 2021 (2021 Report). Mr Leak confirms
Slide 32: B. Copper Equivalent Calculation
B. Copper Equivalent Calculation
Slide 33: 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 sold basis. Recovery Factors by Operation FY21 FY22 FY23 LOMP Recovered CuEq Metal Produced Recovery
Slide 34: C. Material Assumptions for Production Targets and Exploration Targets
C. Material Assumptions for Production Targets and Exploration Targets
Slide 35: Material assumptions for Tritton Production Target
Material assumptions for Tritton Production Target Criteria Commentary Exploration Target and • The Production Target is based on 44% Ore Reserve, 4% Measured, 20% Indicated, 29% Inferred Mineral Resources and 2% Exploration Target. Mineral Resource • The Production Target includes Tritton, Budgeryg
Slide 36: Material assumptions for Tritton Production Target
Material assumptions for Tritton Production Target Criteria Commentary Cut-off parameters • Ore Reserve cut off grade for the operating mines are based are set using detailed budget information. Cut-off grades for the future mines have been estimated as part of economic (con’t) studies for each depo
Slide 37: Material assumptions for Tritton Production Target
Material assumptions for Tritton Production Target Criteria Commentary Environmental factors or • The Tritton, Budgerygar, South Wing, Murrawombie and Avoca Tank deposits are located within approved Mining Licences. assumptions • The Constellation deposit is located within an approved Exploration Li
Slide 38: Material assumptions for Stockman Production Target
Material assumptions for Stockman Production Target Criteria Commentary Exploration Target and • The Production Target is based on 100% Probable Ore Reserve. Mineral Resource • The Production Target includes ore sourced from the Wilga underground mine and Currawong underground mine estimates for con
Slide 39: Material assumptions for Stockman Production Target
Material assumptions for Stockman Production Target Criteria Commentary Metallurgical factors or • The Wilga and Currawong mine ore will be treated at the proposed Stockman ore processing plant by sulphide flotation methods. The design process flowsheet has a crush circuit, assumptions grinding circ
Slide 40: Material assumptions for Stockman Production Target
Material assumptions for Stockman Production Target Criteria Commentary Environmental factors or • The Stockman project mines and processing plant are located on a granted mine license MIN5523. The TSF is located on a separate infrastructure only mine license MIN006642. assumptions • The majority of
Slide 41: Turbo Exploration Target at Jaguar Operation
Turbo Exploration Target at Jaguar Operation Summary of Turbo Exploration Target lower Base Upper The exploration target is derived from modelling extensions of the known mineralisation outwards Tonnes (mt) 0.75 1 1.25 on 60m increments and applying variable widths between 5m and 12m and bulk densit
Slide 42: Spectre Exploration Target at Jaguar Operation
Spectre Exploration Target at Jaguar Operation Summary of the Spectre Exploration Target lower Mid Upper Current drill spacing is on a ~60m spacing and as clearly demonstrated elsewhere in the Bentley Tonnes (m) 0.25 0.5 0.75 mine this spacing can miss the massive sulphide mineralisation particularl
Slide 43: Competent Persons Statement – Exploration Targets
Competent Persons Statement – Exploration Targets Competent Person’s Statement – Turbo and Spectre Exploration Targets David Potter confirms that he is the Competent Person for the Exploration Target in respect of the Turbo and Spectre Exploration Targets summarised in this Report and he has read an