Aeris Resources Limited · ASX:AIS
Aeris Resources — Investor Presentation (May 2025)
33 slides from Aeris Resources's investor presentation, May 8, 2025
Slide 1: Refinancing Investor presentation
Refinancing Investor presentation 8 May 2025
Slide 2: Disclaimer
Disclaimer This investor presentation has been prepared by Aeris Resources Limited FUTURE PERFORMANCE AND FORWARD-LOOKING STATEMENTS Aeris confirms that the form and context in which the Competent Person’s (“Aeris” or the “Company”). By attending an investor presentation or This presentation contain
Slide 3: Refinancing Overview
Refinancing Overview
Slide 4: Refinance Summary
Refinance Summary Binding term sheet executed with Washington H. Soul Pattinson (WHSP) for a $60 million Guarantee Facility to provide long-term environmental bonding, replacing the current $50 million ANZ Facility $10 million currently in restricted cash released to provide additional working capit
Slide 5: New WHSP guarantee facility
New WHSP guarantee facility Key terms $3.5 million per quarter commencing 12 months Provider: Washington H. Soul Pattinson and Company Cash Backing: from financial close First ranking security over all Aeris Group assets, Facility Limit: $60 million Security: subsidiaries and undertakings1 Term: 3 y
Slide 6: WHSP term facility extension
WHSP term facility extension Key terms Facility Limit: $50 million ($40 million drawn) Term: Extended to August 2026 $1.5 million extension fee Other Fees: 2% additional exit fee Further 2% fee on repayment if not repaid by 31 January 2026 Other : All other conditions remain the in place 6
Slide 7: Company update
Company update
Slide 8: Aeris investment thesis
Aeris investment thesis Weighted to copper FY25 production guidance 29 79 47 Australian copper focused miner with high margin Au Cu Ag gold cashflows to support growth Copper Gold Silver 27-32 kt 50-62koz 200-240koz • 40 – 48kt Cu eq1,3 FY25 guidance Established miner with • FY25 group production gu
Slide 9: Immediate goals: a simplified, resilient portfolio
Immediate goals: a simplified, resilient portfolio High-grade, diversified, copper resource, with +0.5Moz gold in Mineral Resource¹ to support strategic copper growth Assets aligned with strategic copper focus Au supporting strategic Cu growth Tritton Cracow 1.7% Cu eq 0.5Moz Au1 Jaguar 1.3Mt Cu eq1
Slide 10: Aeris medium and long term goals
Aeris medium and long term goals Leading ASX copper company targeting +50ktpa, high margin copper production underpinned by capital investments at Tritton Immediate Medium term Long term Goals • Fill Tritton mill • Maintain +5 year mine life • Develop Constellation High margin, long life, Tritton
Slide 11: Tritton
Tritton New South Wales
Slide 12: Tritton: our flagship asset
Tritton: our flagship asset Strategically located, diversified copper operation with a 20 year operating history Copper production (kt)1 Mining Processing Logistics 30 30 26 27 27 24 24 25 Tritton / Budgerygar 21 23 23 23 19 20 17 • Tritton: Mature mine at depth, targeting high grade extensions • Bu
Slide 13: Tritton: investment thesis
Tritton: investment thesis Large scale copper • 100% owned, integrated mining complex operation • 1.8Mtpa processing facility • 2,300km2 tenement package, located in the highly prospective Cobar Basin Strategic location adjacent to several proven mining operations • Targeting ~30ktpa copper producti
Slide 14: Reinvestment strategy for Tritton
Reinvestment strategy for Tritton Key issue 1 – Underutilised mill capacity Strategy – Murrawombie 1.8Mtpa mill, the largest in the Cobar region, but underutilised New open pit • Historical production averaged 1.6Mtpa • Stripping commenced in February • Reduced to 1.2Mtpa over recent years • Will en
Slide 15: Reinvestment strategy for Tritton (cont.)
Reinvestment strategy for Tritton (cont.) Key issue 2 – Declining reserve life Strategy – Constellation • Ore Reserves have depleted over the last 5 years due to capital • Constellation deposit – the new potential baseload ore source: prioritisation at Cracow, Jaguar operational issues and working –
Slide 16: Constellation overview
Constellation overview Tritton’s future baseload copper-gold ore source Long section looking west showing the March 2025 Indicated and Inferred Mineral Resource Updated Mineral Resource Estimate 7.6Mt of 2.01% copper and 0.66g/t gold containing 153kt copper and 161koz gold1 Represents a 24% increase
Slide 17: Constellation development pathway
Constellation development pathway Potential long life mine from three stages 1. Oxide for heap leach • 1.5Mt @ 0.6% Cu with high-grade zones (1-2% Cu) March 2025 Constellation Mineral Resource • Starting 5m below surface Cu Au Ag Mining Cu Mineralisation Resource Tonnes Cu Au Ag Cut-off metal metal
Slide 18: Other exploration potential
Other exploration potential Multiple targets provide potential to further extend mine life Extensions: Tritton, Murrawombie, Avoca Tank and Budgerygar all still open at depth Kurrajong: high grade deposit, open at depth Budgery: potential open pit target located close to infrastructure Numerous othe
Slide 19: Cracow
Cracow Queensland
Slide 20: Cracow
Cracow High margin gold mine History of stable production and resource replacement (Au koz)2 710 500 520 510 530 520 450 350 390 460 High margin, underground gold mine located 500km northwest of Brisbane 1,069 1,160 1,250 1,340 1,421 1,509 1,582 1,636 1,684 1,730 Conventional crush and grind CIP pro
Slide 21: Historical profitability
Historical profitability Gold production (koz)1 History of stable operations and high margin cashflow 74 generation FY25 guidance 54 48 40-49 46 +220koz gold produced under Aeris ownership FY21 FY22 FY23 FY24 FY25 EBITDA (A$m)1 $45.9 million adjusted EBITDA generated in 1H FY25 $98.1 Q3 FY25 product
Slide 22: Exploration
Exploration Highly prospective greenfield targets Continuing to drill near mine targets in the Western Vein Field (WVF) for incremental additional ounces Priority conceptual greenfield targets with the potential to host new mineralised structures Western Frontier represents a potential new structura
Slide 23: Other Assets
Other Assets
Slide 24: Jaguar
Jaguar Brownfield copper/zinc restart opportunity Mineral Resource1 8Mt @ 1.3% Cu, 5.6% Zn, 0.5g/t Au and 65g/t Ag across 4 deposits Transitioned to care and maintenance in Q1 FY24 Potential restart on resources at Bentley with development out to high-grade Turbo lens Restart to include mill and inf
Slide 25: Jaguar gold exploration
Jaguar gold exploration Focus on five prospective areas ① 1. Heather Bore Shear – 12km structure including 2km shallow gold anomaly1 along strike from Northern Star’s Thunderbox operation ⑤ 2. Aesop – Halloween Trend – 6km structural corridor consider prospective but subject to limited exploration ②
Slide 26: Stockman
Stockman Concentrator flowsheet for Albion Process Long life, Cu-Zn-Au-Ag project with all primary permits Feasibility study well advanced 12 year mine plan producing at up to 850ktpa1 from a single deposit Potential to extend mine life with other known deposits Currawong mine plan Albion leaching t
Slide 27: North Queensland
North Queensland Mining completed; non-core tenement package Mining and processing now completed at Mt Colin Rehabilitation activities underway Part of an attractive 952km2 tenement package including the feasibility-stage Barbara project Considering options for divestment 27
Slide 28: Aeris Resources
Aeris Resources Set for growth in copper production with reset balance sheet and strong operating cash flows Refinance reset provides flexibility to deliver business strategy Strong Cracow cash flows to support copper growth Constellation the game changer – potential long life ore source to support
Slide 29: Thank you
7 Netis Thank you
Slide 30: Appendix A Reserve and Resource Tables
Appendix A Reserve and Resource Tables
Slide 31: Group Ore Reserves
Group Ore Reserves PROJECT CATEGORY TONNES (‘000) GRADE CONTAINED METAL Base Metals % Cu % Zn g/t Au g/t Ag kt Cu kt Zn koz Au koz Ag Tritton Proved 5 1.8 - - - 0.1 - - - Probable 2,790 1.5 - 0.3 5 41 - 23 451 Total 2,790 1.5 - 0.3 5 41 - 23 451 Jaguar Proved 90 1.4 8.7 0.8 74 1 8 2 225 Probable 1,0
Slide 32: Group Mineral Resources
Group Mineral Resources PROJECT CATEGORY TONNES (‘000) GRADE CONTAINED METAL Base Metals % Cu % Zn g/t Au g/t Ag kt Cu kt Zn koz Au koz Ag Tritton Measured 1,300 1.0 - 0.1 3 13 - 4 120 Indicated 11,200 1.4 - 0.3 4 145 - 91 1,280 Inferred 10,000 1.7 - 0.3 4 183 - 137 1,440 Total 22,500 1.5 - 0.3 4 34
Slide 33: Tritton Mineral Resources
Tritton Mineral Resources PROJECT CATEGORY TONNES (‘000) GRADE CONTAINED METAL Base Metals % Cu g/t Au g/t Ag kt Cu koz Au koz Ag Tritton Measured 1,300 1.0 0.1 3 13 4 120 Indicated 1,500 1.1 0.0 2 16 2 90 Inferred 1,200 1.3 0.2 7 16 10 290 Total 4,000 1.1 0.1 4 46 16 500 Murrawombie Measured - - -