Aeris Resources Limited

Notable vs. Peers

• Financials score of 8.8/10 is stronger than the peer average of 5.3/10.
• All-in sustaining cost of $2.92/lb is 27% higher than the peer producer average of $2.30/lb.

Lifecycle Milestones

1. Permit granted

   Sep 1999 · Development consent DA 41/98 for Tritton granted by the then-NSW Minister for Urban Affairs and Planning, under s.91 Environmental Planning & Assessment Act, on 1 September 1999. Base consent still governs the site, modified 9 times since (Mod 1-9). CAVEAT: sourcing consistent across multiple independent searches of NSW planning-portal records and Aeris's own Approvals Documents page, but PDF text extraction failed on every attempt -- rests on search-engine summarization, cross-confirmed by two separately-worded queries returning identical date/authority. · Source
2. Construction decision (FID)

   Dec 2003 · Tritton Resources Limited (established 2002 by Ian Culbert/Mick McMullen specifically to acquire the Tritton assets from Straits Resources, which retained 27%) completed its IPO, admitted to ASX 2003-12-03. Underground access-decline development began ~April 2004 (Byrnecut's Apr2004-Apr2008 contract), stope production started March 2005 (see this miner's existing CONSTRUCTION_START/FIRST_PRODUCTION rows). MODERATE CONFIDENCE CAVEAT: no single document explicitly states "IPO proceeds earmarked for construction" -- this link is a reasonable but inferential reading from the entity's founding purpose plus the tight ~4-month gap to construction start, not an explicit board-resolution date. · Source
3. Construction start

   Reached — date not disclosed · Development of the Tritton underground orebody (discovered 1995 by the Straits/Nord JV) started in 2004 with the driving of an access decline, under Straits Resources (Aeris's predecessor entity, renamed 2015). Distinct from the earlier, separate Girilambone open-pit operation on the same tenement package (1992-1999). Exact day not found in available primary sourcing. · Source
4. First pour / production

   Reached — date not disclosed · Stope production from the Tritton underground mine began in March 2005. Exact day not found in available primary sourcing. · Source
5. Commercial production

   Reached — date not disclosed · Genuinely reached, but no single company-wide commercial-production date exists: Aeris operates multiple mines (Tritton copper, NSW; Cracow gold, Queensland; plus North West Copper and Jaguar Zn/Cu assets) that entered production at different times under different corporate/ownership histories. Its FY26 (year ended 30 June 2026) results confirm Tritton and Cracow are both currently producing -- group copper-equivalent output ~42,100t, including 23,000t copper from Tritton and 40.6koz gold from Cracow, EBITDA up 78% YoY to ~$285M. Both assets significantly predate this reporting period. This row was missing entirely prior to 2026-08-21 -- a genuine data gap, not a stage error; Miner.stage was already correctly PRODUCTION. · Source

Milestones are recorded only from a company's own dated disclosure. A milestone with no date shown is one we can confirm was reached but for which no date was disclosed — we don't estimate one. "Not yet reached" means exactly that, not that a date is missing. An "Expected" line likewise only ever reflects the company's own guidance (e.g. a study or permit decision targeted for a stated quarter) — most not-yet-reached milestones have none, and that absence means no such guidance has been disclosed, not that one is overdue.

A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal the underlying research identifies — whether a major already holds a JV, earn-in, or 5–19.9% strategic stake — isn't tracked yet and is absent from this score.