Aeris Resources Limited · ASX:AIS
Aeris Resources — Bell Potter Unearthed Natural Resources Conference 2021
36 slides from Aeris Resources's conference presentation, Feb 10, 2021
Slide 1: Maintaining the Momentum
For personal use only Maintaining the Momentum Bell Potter Unearthed Natural Resources Conference 2021 10 February 2021
Slide 2: Important notice and disclaimer
Important notice and disclaimer For personal use only This presentation may contain certain statements and projections provided by or on behalf of Aeris Resources Limited (Aeris) with respect to the anticipated future undertakings. These forward-looking statements reflect various assumptions by or o
Slide 3: Compliance statements
Compliance statements For personal use only Tritton Copper Operations Production Targets Cautionary Statement The presentation includes references to a Production Plan (Production Targets) for the Company’s Tritton Copper Operations. The Production Targets referred to in this presentation are based
Slide 4: Company snapshot
Company snapshot For personal use only ASX Code AIS Market capitalisation Cracow Gold Operations A$173m (fully diluted)1 Ownership 100% Mine type U/G Enterprise Value Processing 600 ktpa CIP (fully diluted)1 A$184m FY21F Production 70koz – 75 koz Au FY21F AISC A$1,525/oz-A$1,575/oz Net debt2 A$10.9m
Slide 5: Aeris' corporate history
Aeris’ corporate history Following years of restructuring, Aeris is now primed to deliver high impact growth For personal use only Phase 3: Growth execution Phase 2: Position for Growth FY13 Q1 FY21 (2018 – 2020) Acquisition of Cracow Balance sheet strength restored Phase 1: Pivot to active gr
Slide 6: Highlights – Busy months
Highlights – Busy 7 months For personal use only Acquisition and integration completed Produced 36koz Au @ AISC $1,484/oz Cracow Updated Roses Pride resource1 Started construction of new tailings dam Aggressive exploration underway Produced 11,889t Cu @ AISC $3.08/lb Tritton Started Budgeryga
Slide 7: Cracow Gold Operations
For personal use only Cracow Gold Operations
Slide 8: Cracow Gold Operations
Cracow Gold Operations A highly cash flow generative mine which is transforming the company For personal use only A high grade, low cost gold mine in Queensland, Australia with a proven operating history Acquired from Evolution Mining in July 2020: ─ A$60m cash paid at completion ─ A deferred ca
Slide 9: Immediate priorities for Cracow
Immediate priorities for Cracow For personal use only FY21 Guidance - 70koz to 75koz Au @ AISC A$1,525 – A$1,575/oz Operational Repay A$30m Acquisition Debt Facility by end FY21 Delivery Maximising cashflows (~A$280m in available tax losses) Improve mine and mill productivity – processing pl
Slide 10: Cracow – a prolific goldfield – Aeris re-invigorating exploration
Cracow – a prolific goldfield – Aeris re-invigorating exploration For personal use only Strong history of replenishing reserves and resources - remains a key focus for Aeris Cracow has produced more than 1.4 Moz of gold over its life since first production in 2004 Depletion consistently replac
Slide 11: Cracow Gold Operations - Exploration of brownfield target areas
Cracow Gold Operations - Exploration of brownfield target areas For personal use only Cracow underground • Drilling at Kenneth target underway with encouraging results to date • Geological review done, near mine targets identified • Second drill rig in place to test near mine targets 11
Slide 12: Cracow Gold Operations - Exploration
Cracow Gold Operations - Exploration For personal use only • Updated Mineral Resource for Roses Pride: ― 260% increase in gold ounces to 26koz ― Total reported Mineral Resource of 177kt @ 4.6g/t Au for 26koz Au1 ― Mineralisation remains open along strike ― Further drilling planned in first half of 2
Slide 13: Cracow near mine exploration – looking in new spaces
Cracow near mine exploration – looking in new spaces For personal use only Killarney Extensions drill target • High grade mineralisation open along strike and down dip • Structure still present >100m below existing shoot • Previous drill results ― KLU180: 4m @ 7.7 g/t Au Killarney Extensions target
Slide 14: Cracow near mine exploration – Klondyke / Royal
Cracow near mine exploration – Klondyke / Royal For personal use only Klondyke and Royal Deposits Klondyke / Royal • Recent shallow drilling indicates potential. Drill results include: ― KDS002 7.0m @ 11.6 g/t Au (true width 3.3m) ― KDS003 3.0m @ 3.1 g/t Au (true width 1.7m) ― KDS017 4.0m @ 2.9 g/t
Slide 15: Cracow near mine exploration – Golden Plateau
Cracow near mine exploration – Golden Plateau For personal use only • ~850koz previously mined from Gold Plateau – both open pit and underground • Large mineralised system which remains open down plunge • Currently validating historical workings and drill hole database • Planned drill program testin
Slide 16: Exploring in new spaces – looking for the next big discovery
Exploring in new spaces – looking for the next big discovery For personal use only Ballymore ─ Recently identified structure along southern margin of the current mining footprint ─ Limited historical drilling returned encouraging results: ─ Evidence of epithermal vein textures ─ Anomalous pathfind
Slide 17: Tritton Copper Operations
For personal use only Tritton Copper Operations
Slide 18: Tritton Copper Operations
Tritton Copper Operations A consistent producer with upside For personal use only Established underground copper mines and 1.8 Mtpa processing plant in Western NSW, Australia ─ Operating since 2005 with >320 kt Cu produced Highly endowed region and tenement package ─ Nearby mines include CSA (Gl
Slide 19: Tritton Life of Mine Plan
Tritton Life of Mine Plan (LOM) 4 year LOM with multiple options to extend For personal use only Aggressive focus on extending mine plan from: Tritton and Murrawombie extensions Developing Budgerygar via access from Tritton Prioritizing higher grade Avoca Tank U/G into production Potential O
Slide 20: Life of Mine extensions - Tritton and Budgerygar
Life of Mine extensions - Tritton and Budgerygar For personal use only Life of Mine extension opportunities Tritton Deposit: ― Mineralisation open at depth • Commenced drill program testing down plunge potential ― South Wing – adjacent to Tritton orebody – further drilling planned Corridor between T
Slide 21: Murrawombie – brownfields exploration
Murrawombie – brownfields exploration For personal use only Geologically performing better than expected Minerailsation open at depth and to the north Recent drilling continues to intersect high grade mineralisation, including: ─ 14.60m @ 2.43% copper (true thickness approx. 7.8m) MWGC514; and
Slide 22: Greenfields Exploration Activities in FY21
Greenfields Exploration Activities in FY21 For personal use only Constellation • Bedrock conductor identified initially from an airborne EM survey and confirmed by Ground based EM • Drilling commenced in mid-November Avoca Tank • Two drill holes planned in second half of FY21 testing down dip extens
Slide 23: Tritton Copper Operations – Constellation Deposit discovered
Tritton Copper Operations – Constellation Deposit discovered For personal use only Spectacular results • 3 Bedrock EM conductors identified • Drilling commenced in November • First three holes intersected high grade copper1 • Approval received for 25 more holes • Next round of downhole EM in Februar
Slide 24: Tritton Copper Operations – Constellation Deposit
Tritton Copper Operations – Constellation Deposit TAKD001 For personal use only Spectacular results TAKD0011 19.95m @ 2.41% Cu, 0.64g/t Au, 4.6g/t Ag from 197.2m including; – 5.60m @ 1.43% Cu, 0.53g/t Au, 2.4g/t Ag – 7.55m @ 4.71% Cu, 0.99g/t Au, 9.2g/t Ag TAKD0032 27.10m @ 1.61% Cu, 0.43g/t Au,
Slide 25: Tritton Copper Operations – Constellation Deposit
Tritton Copper Operations – Constellation Deposit For personal use only TAKD002 TAKD002 targeting the smaller conductor • intersected a 3.55 metre thick massive sulphide interval from 61.05 metres down hole • 3.55m @ 22.56% Cu, 2.57g/t Au, 16.1g/t Ag1 • Downhole EM survey identified 2 plates TAKD002
Slide 26: An exciting path forward with multiple value catalysts in FY21
An exciting path forward with multiple value catalysts in FY21 For personal use only Potential Catalysts FY21 Quarter 2 FY21 Quarter 3 FY21 Quarter 4 Klondyke Deeps Roses Pride / Sterling Exploration Drilling at Cracow Roses Pride Deeps Kenneth Ballymore Golden Plateau Golden Plateau Tritton Deeps
Slide 27: M&A strategy remains a focus
M&A strategy remains a focus For personal use only Aeris Resources Commodity Gold and Copper M&A strategy East coast Australia Location Rest of Australia Offshore – Risk reward Pursue strategic M&A opportunities that adds value, complement existing Producing operation with established in
Slide 28: Summary
For personal use only Summary
Slide 29: What makes Aeris different?
What makes Aeris different? For personal use only Proven team with a consistent Financially robust, rapidly track record deleveraging A unique platform to Diversified, strong free cash consolidate the landscape generation where others cannot 29 79 Favourable gold / copper Primed to unlock value Cu A
Slide 30: Thank You
For personal use only Thank You
Slide 31: Appendix
For personal use only Appendix
Slide 32: Tritton – reported Mineral Resource
Tritton – reported Mineral Resource For personal use only Tritton tenement package (30 June 2020)(1)(2) Measured Indicated Inferred Total Resource Cut-off Project (%Cu) Tonnes Cu grade Cu metal Tonnes Cu grade Cu metal Tonnes Cu grade Cu metal Tonnes Cu grade Cu metal (kt) (%) (kt) (kt) (%) (kt) (kt
Slide 33: Tritton – reported Ore Reserve
Tritton – reported Ore Reserve For personal use only Tritton tenement package (30 June 2020)(1)(2)(3)(4) Proven Probable Total Ore Reserves Cut-off Project Type (%Cu) Tonnes Cu grade Cu metal Tonnes Cu grade Cu metal Tonnes Cu grade Cu metal (kt) (%) (kt) (kt) (%) (kt) (kt) (%) (kt) Tritton Undergro
Slide 34: Cracow – Mineral Resource and Ore Reserve
Cracow – Mineral Resource and Ore Reserve For personal use only Cracow (30 June 2020)(1) Gold grade Tonnes (Mt) Gold metal (koz) (g/t) Ore Reserve Proven 0.28 5.2 46 Probable 0.27 4.9 43 Total 0.55 5.1 89 Mineral Resource(2) Measured 0.20 7.8 53 Indicated 0.69 5.9 130 Inferred 1.40 2.6 120 Total 2.3
Slide 35: Cracow – Roses Pride Mineral Resource Update
Cracow – Roses Pride Mineral Resource Update For personal use only December 2020 Roses Pride Mineral Resource1 Resource Category Tonnage Au (g/t) Ag (g/t) Au metal (koz) Ag metal (kt) (koz) Measured - - - - - Indicated 104.1 4.7 2.1 15.6 7.0 Inferred 73.0 4.5 2.2 10.5 5.1 TOTAL 177.1 4.6 2.2 26.1 12
Slide 36: Competent Persons statement
Competent Persons statement For personal use only Competent Persons statement Mr Cox confirms that he is the Competent Person for all the Mineral Resource and Exploration Target estimates summarised in this Report and he has read and understood the requirements of the 2012 Edition of the Australasia
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