Aeris Resources outlines $170–210M growth budget
Full story: https://grafa.com/en/news/australia/aeris-resources-outlines-170-210m-growth-budget
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Aeris Resources released its 2027 financial year guidance projecting 37–46 kilotonnes of copper equivalent production.
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The company's shares traded lower following the announcement as forecasted growth capital costs rose significantly.
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Aeris stated the increased spending will primarily fund construction and waste stripping at the Constellation Project.
Aeris Resources (ASX:AIS) released its 2027 financial year guidance detailing a capital expenditure increase to $170–210 million.
This projected growth capital represents a substantial rise from the $102 million spent during the previous financial year.
The company stated it expects group copper equivalent production to remain broadly steady between 37 and 46 kilotonnes.
Aeris stated the higher capital allocation is primarily driven by construction and waste stripping at the Constellation site.
Following the announcement, the Aeris share price was down at $0.38.
The miner operates the Tritton copper facility in New South Wales alongside the Cracow gold site in Queensland.
The company noted that ore from the new Constellation open pit should begin replacing lower-grade feed in 2027.
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