Aeris Annual Report 2022

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NORTH QUEENSLAND COPPER OPERATIONS North Queensland Copper Operations comprises the Mt Colin copper mine, the Barbara development project and a prospective, 967.35km 2 tenement package in the Mt Isa/Cloncurry region. It was acquired by Aeris Resources on 1 July 2022. Originally an open cut operation, Mt Colin produced its first ore from underground activities in September 2019. Ore is mined using long hole open stoping methods. Run of mine ore is crushed on site before being transported by road train to the Mount Isa processing facility for toll treatment. The copper-gold concentrate produced is smelted in Mount Isa before being railed to the copper refinery in Townsville. DEVELOPMENT AND EXPLORATION PROJECTS With production at Mt Colin due to complete in FY2024, exploration activities are focused on the nearby Barbara deposit. Barbara was previously mined as an open pit operation and a significant copper-gold resource remains below the pit. Aeris will undertake further mining studies to investigate the potential of a new underground operation at Barbara. In addition to the Mt Colin and Barbara mines, North Queensland Copper Operations also includes a large regional exploration package. The tenement package is divided into three main areas: • Hazel Creek area; • Central Exploration area near Cloncurry; and • Soldiers Cap area to the south of Cloncurry. The tenement package is considered prospective for IOCG-style copper-gold deposits as well as lead-zinc-silver deposits. North Qld Tenement Map AERIS ANNUAL REPORT 2022 Aeris will undertake further mining studies to investigate the potential of a new underground operation at Barbara. 20
STOCKMAN PROJECT The Stockman Project is an advanced copper and zinc development project located approximately 300km north-east of Melbourne in the East Gippsland region of Victoria. It was acquired by Aeris on 1 July 2022. Stockman is an exciting long-life project with all primary approvals granted and a definitive feasibility study (DFS) well underway. Aeris is targeting a final investment decision by the end of FY2023. STOCKMAN TENEMENT MAP Currawong Deposit Omeo Wilga Deposit VICTORIA Bairnsdale MELBOURNE ADVANCING AERIS 21
Page 1 and 2: Advancing Aeris 2022 Annual Report
Page 3 and 4: Contents 2022 HIGHLIGHTS IV EXECUTI
Page 5 and 6: Executive Chairman’s Letter To ou
Page 7 and 8: SECTION 1: FINANCIAL RESULTS During
Page 9 and 10: COVID-19 IMPACT The global COVID-19
Page 11 and 12: AVOCA TANK DEVELOPMENT The Avoca Ta
Page 13 and 14: EXPLORATION In FY2022, $13.5 millio
Page 15 and 16: MINERAL RESOURCE FOR THE CONSTELLAT
Page 17 and 18: CRACOW GOLD OPERATIONS The Cracow G
Page 19 and 20: SOUTHERN VEIN FIELD EXPLORATION Lim
Page 21 and 22: ADVANCING AERIS 17
Page 23: Jaguar Locations Map ADVANCING AERI
Page 27 and 28: ADVANCING AERIS 23
Page 29 and 30: MINERAL RESOURCE ESTIMATES The 2022
Page 31 and 32: SUMMARY OF COMPETENT PERSONS FOR 20
Page 33 and 34: WHAT DOES SUSTAINABILITY MEAN TO AE
Page 35 and 36: MINIMAL FOOTPRINT DESIGN Aeris has
Page 37 and 38: CARBON AND CLIMATE CHANGE Objective
Page 39 and 40: TRADITIONAL CUSTODIANS We acknowled
Page 41 and 42: INJURY RATES The total recordable i
Page 43 and 44: The Directors present their report,
Page 45 and 46: NAME, EXPERIENCE AND OTHER DIRECTOR
Page 47 and 48: SIGNIFICANT CHANGES IN THE STATE OF
Page 49 and 50: EXPLORATION The Tritton tenement pa
Page 51 and 52: EXPLORATION Since Aeris took owners
Page 53 and 54: FINANCIAL REVIEW During the financi
Page 55 and 56: MATERIAL BUSINESS RISKS Aeris prepa
Page 57 and 58: OPERATIONAL AND COST RISK The Compa
Page 59 and 60: SIGNIFICANT EVENTS AFTER THE BALANC
Page 61 and 62: NON-AUDIT SERVICES The Company may
Page 63 and 64: The Directors are pleased to presen
Page 65 and 66: REMUNERATION FRAMEWORK EXECUTIVE RE
Page 67 and 68: LONG TERM INCENTIVES (LTI) Previous
Page 69 and 70: Vesting Share price The number of P
Page 71 and 72: COMPANY PERFORMANCE AND REMUNERATIO
Page 73 and 74: DETAILS OF REMUNERATION Details of
Page 75 and 76:
SHARE-BASED COMPENSATION Details of
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The Remuneration Committee consider
Page 79 and 80:
Auditor’s Independence Declaratio
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Aeris Resources Limited Contents 30
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Aeris Resources Limited Consolidate
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Aeris Resources Limited Consolidate
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Aeris Resources Limited Notes to th
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Independent auditor’s report To t
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● Due to fluctuations in profit,
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Other information The directors are
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ADVANCING AERIS 135
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HOLDING DISTRIBUTION HOLDINGS RANGE
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ADVANCING AERIS 139
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GLOSSARY $ or A$ Australian dollar
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DIRECTORS ANDRE LABUSCHAGNE ROBERT
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Aeris Annual Report 2022

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