Aeris Resources Limited (ASX:AIS): Copper Operations, FY26 Earnings and Golden Plateau Update

Aditi Sarkar

28 October 2026 03:07 PM AEDT

Aeris Resources Limited (ASX:AIS): Copper Operations, FY26 Earnings and Golden Plateau Update

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Highlights

FY26 revenue reached $702.8 million, with EBITDA of $290.2 million.
Tritton produced 23.0kt of copper, while Cracow delivered 40,599oz of gold.
Operating cash flow rose to $275.6 million during FY26.
Constellation early works progressed and the Peel Mining acquisition completed in July 2026.
An October 2026 resource update increased contained gold at Golden Plateau by 220%.

Aeris Resources Limited (ASX:AIS) is an Australian producer of copper and gold, operating the Tritton copper business in New South Wales and Cracow gold operations in Queensland. Its FY26 accounts, released in August 2026, reported higher revenue and earnings alongside development work at Constellation. A subsequent October resource update at Golden Plateau added detail to the company’s plans for its Cracow processing infrastructure.

FY26 Earnings and Cash Generation

For the year ended 30 June 2026, Aeris Resources Limited (ASX:AIS) reported revenue of $702.8 million, up 22% from $577.1 million. EBITDA increased 81% to $290.2 million from $160.5 million, while adjusted EBITDA reached $318.2 million, a 77% increase. Statutory net profit after tax was $178.5 million, compared with $45.2 million in FY25. These measures capture different elements of operating and accounting performance and should not be treated as interchangeable.

FY26 operating cash flow was $275.6 million, up 111% from $130.9 million. Cash and cash equivalents at 30 June 2026 stood at $164.9 million, while net assets increased to $599.5 million. Aeris Resources Limited (ASX:AIS) had repaid and cancelled its $50 million loan facility during the financial year. The reported net profit included a $51.5 million income tax benefit associated with recognising previously unrecognised tax losses; that accounting benefit is distinct from operating cash generation.

Production Across Tritton and Cracow

Tritton produced 23.0kt of copper in FY26, an increase of 19%, contributing $467.5 million in revenue. Cracow generated $234.4 million in revenue and produced 40,599oz of gold. Copper output improved even though the June quarter experienced unscheduled downtime and variations in grade and recovery. Aeris Resources Limited (ASX:AIS) remains exposed to commodity markets and site-level costs.

The company reported a fourfold increase in Tritton ore reserves during 2026, incorporating mine planning and exploration work across several deposits. Constellation early works started in May 2026, and its mining lease was granted in July. The acquisition of Peel Mining, completed on 1 July 2026, added the Mallee Bull and Wirlong deposits to the Tritton regional portfolio. Development schedules remain relevant.

Golden Plateau Resource Expansion

On 22 October 2026, Aeris Resources Limited (ASX:AIS) released an updated mineral resource estimate for Golden Plateau within its Cracow tenements. The estimate totalled 3.0Mt at 2.1g/t gold and 8g/t silver, containing 200koz of gold and 750koz of silver. Contained gold was 220% higher and contained silver 200% higher than the previous estimate cited by the company. Measured and Indicated material accounted for approximately 50% of contained gold.

The update concerns a mineral resource, not immediate production or an ore reserve. Aeris indicated that mine design work was beginning for potential open-cut and underground operations supplying the existing Cracow plant. Permitting activities had commenced, with completion expected during FY28. Any operation remains subject to studies and approvals.

Operating Considerations and Upcoming Milestones

Aeris Resources Limited (ASX:AIS) faces exposure to changes in copper and gold prices, equipment availability, mining grades, recoveries and the cost of capital works. Spending on Constellation and other growth projects must be assessed separately from reported FY26 earnings. Quarterly operating reports, revised mine plans and the progression of Golden Plateau permitting provide factual checkpoints without implying any particular financial outcome.

Key Insights

Aeris Resources Limited (ASX:AIS) entered FY27 following increased FY26 cash generation, higher Tritton copper output and a larger regional development portfolio. The October Golden Plateau update also expanded the documented resource base near Cracow. The distinction between resource estimates, approved mine development and realised production remains important when interpreting the company’s disclosures.

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