Aeris Resources (ASX:AIS) Grows Golden Plateau Gold Resource by 140,000 Ounces and Advances Constellation Copper Build

Aditi Sarkar

29 October 2026 01:31 PM AEDT

Aeris Resources (ASX:AIS) Grows Golden Plateau Gold Resource by 140,000 Ounces and Advances Constellation Copper Build

Image Source: Shutterstock

You are reading a free article with opinions that may differ from the recommendation given by Kalkine in its paid research reports. Become a Kalkine member today to get access to our research reports, in-depth technical and fundamental research. Learn more

Start Your Free Trial Now!

Highlights

Tritton copper production ran ahead of plan in the September quarter, with record September monthly mill throughput of 166,000 tonnes.
The Golden Plateau Mineral Resource at Cracow increased by 140,000 ounces after quarter-end, reaching 3.0 million tonnes at 2.1 grams per tonne for 200,000 ounces.
Constellation copper waste stripping started in August 2026, with site infrastructure on schedule and first ore to the mill targeted for March 2027.
Closing cash was A$127.8 million with no debt, and both Tritton and Cracow are on track for FY27 annual guidance.

Three operations running to plan, one resource growing sharply and a fourth project moving earth toward first production — Aeris Resources (ASX:AIS) delivered a September quarter that combined operational steadiness with concrete progress at Constellation, its copper development in South Australia. A 140,000 ounce step-up in the Golden Plateau gold resource at Cracow after the period closed added a further layer to an already positive update, bringing that deposit to 200,000 ounces and signalling continued exploration upside at an existing mining centre.

Tritton Running Ahead of Plan

At Tritton in New South Wales, ore milled was 452,000 tonnes for the quarter. Milled grade eased to 1.47% copper from 1.61% and recovery to 88.4% from higher levels, but September set a record monthly mill throughput of 166,000 tonnes. Aeris attributes the strong throughput to better-than-planned mined grades from the Murrawombie open pit, which is due to finish in November 2026. Higher-grade Budgerygar ore is supporting underground output as the open pit winds down. Drilling at Avoca Tank identified approximately 120,000 tonnes of additional ore, being prepared for mining in late FY27.

Cracow in Queensland produced 8,800 ounces of gold from 157,300 tonnes milled at 1.97 grams per tonne for the quarter. Lower-grade stope sequencing affected the result, and the company expects milled grade to improve in the December quarter as higher-grade material is accessed. Group quarterly output was 5,900 tonnes of copper, 10,800 ounces of gold and 48,800 ounces of silver. The company says both Tritton and Cracow are on track for FY27 annual guidance of 22–27 kilotonnes copper, 42–51 kiloounces gold and 130–160 kiloounces silver.

Golden Plateau Resource Grows to 200,000 Ounces

After quarter-end, on 22 October 2026, Aeris released an updated Golden Plateau Mineral Resource of 3.0 million tonnes at 2.1 grams per tonne gold, containing 200,000 ounces of gold and 750,000 ounces of silver — an increase of 140,000 ounces on the previous estimate released on 30 July 2026. About half of the contained gold is classified in the Measured and Indicated categories.

This is a resource estimate, not a reserve or development decision. The company plans 15,000 metres of drilling at Golden Plateau in FY27, alongside continued mine design and metallurgical work, and is targeting permitting for FY28 development.

Constellation Copper Project Taking Shape

Constellation waste stripping started in August 2026, marking a visible transition from studies to active construction. About 5 kilometres of a 25-kilometre haul road has been sealed, the project water pipeline is complete and site infrastructure is on schedule. First ore to the mill is targeted for March 2027.

Growth and project spending rose to A$53.6 million from A$23.5 million in Q4 FY26, mostly directed at Constellation development. FY27 guidance for growth capital is A$170–210 million, and Aeris says full-year spend remains on track within that range. All-in sustaining cost was A$6.10 per pound of copper equivalent, against A$4.83 in Q4, reflecting lower grade throughput and higher sustaining capital of A$25.4 million.

Balance Sheet and Other Items

Closing cash was A$127.8 million with no debt. Usable cash plus Tritton receivables was A$178.7 million, down from A$202.3 million at 30 June, reflecting Constellation development spending. The balance sheet positions Aeris to fund the project build without near-term financing pressure.

At Jaguar in Western Australia, scout drilling across eight holes returned no significant intersections from completed assays, and the company will conduct follow-up gravity and electromagnetic modelling in the December quarter before determining further drilling targets. The Stockman feasibility study in Victoria has been delayed by mine plan improvements and metallurgical work, with release now expected in the second half of FY27.

Download Free Report – Explore 3 Stock Ideas & Industry Insights

Unlock 3 stock ideas and key industry insights in our free report. This information is general in nature and does not consider your personal objectives, financial situation, or needs. It is not financial advice.

All investments involve risk—consider independent advice before making any investment decisions.

View 3 Research Reports

Disclaimer:

This article (“Article”) has been prepared by Kalkine Pty Limited (ABN 34 154 808 312) (Australian financial services licence number 425376) (“Kalkine”) and its related bodies corporate who are authorised to provide general financial product advice. Kalkine.com.au and its associated pages are published by Kalkine.

Any information/advice provided in this article is general in nature and does not take into account your objectives, financial situation or needs. You should therefore consider whether the information is appropriate for your objectives, financial situation and needs before acting upon it.

There may be a Product Disclosure Statement, Information Memorandum or other offer document (“Offer Document”) for the securities or other financial products referred to in Kalkine articles. You should obtain a copy of the Offer Document and consider it before making any decision about whether to acquire the security or financial product.

Kalkine strongly recommends that you seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) before acting on any advice/information in this Article or on the Kalkine website. Not all investments are appropriate for all people.

The information in this Article and on Kalkine website has been prepared from a wide variety of sources, which Kalkine, to the best of its knowledge and belief, considers accurate. Kalkine has made every effort to ensure the reliability of the information contained in its articles (including this Article), newsletters and websites. All information represents our views at the date of publication and may change without notice.

The information in this Article does not constitute an offer to sell securities or other financial products or a solicitation of an offer to buy securities or other financial products.

Kalkine does not issue, sell or deal in any financial products.

This Article may contain information on past performance of particular investments. Please note past performance is neither an indicator nor a guarantee of future performance.

To the extent permitted by law, and excluding any dishonesty or gross negligence by Kalkine, Kalkine disclaims and excludes all liability for any direct, indirect, implied, punitive, special, incidental or other consequential loss or damage arising from the use of or reliance on this Article, the Kalkine website and any information published on the Kalkine website without any warranties or representations by Kalkine to you. To the extent the law prohibits or limits this exclusion, Kalkine limits its liability to the resupply of services.

Please also read our Terms & Conditions and Financial Services Guide for further information.

Employees and/or associates of Kalkine and its related entities may hold interests in the securities or other financial products covered in this Article or on the Kalkine website. Any such employees and associates are required to comply with certain safeguards, procedures and disclosures as required by law.

Some of the images/music that may be used in the Article are copyright to their respective owner(s). Kalkine does not claim ownership of any of the pictures displayed/music used in the Article unless stated otherwise. The images/music that may be used in the Article are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.

Kalkine Media Pty Ltd, an affiliate of Kalkine Pty Ltd, may have received, or be entitled to receive, financial consideration in connection with providing information about certain entity(s) covered on its website.