AIS: 2026 Annual Report

Original announcement by asx on

Company
Aeris Resources
Ticker
AIS
Exchange
ASX
Region
Australia
Primary commodity
Copper
Secondary commodities
Gold, Zinc, Silver
Document categories
Resource update, Production, Agreement transaction, Capital raise
Extracted
2026-10-16 05:07:32 UTC

Analysis by Minestarters Atlas

Atlas analysis published:

Minestarters Atlas analysis

Summary

Aeris Resources reported a strong financial and operational performance for FY26, achieving significant growth in its Mineral Resources and Ore Reserves, particularly at the Tritton Operations. The company recorded increased copper and gold production, generated substantial EBITDA, and became debt-free following a successful capital raise and loan repayment. Strategic moves included the acquisition of Peel Mining's Mallee Bull and Wirlong deposits and the divestment of North Queensland assets, positioning the company for future growth despite some grade dilution in certain resource updates.

Reasoning: The annual report highlights substantial growth in Mineral Resources and Ore Reserves, strong financial results, and key strategic acquisitions, indicating a very positive year for the company. However, some projects show grade dilution or decreases in contained metal in their updated estimates.

Positive factors

  • Significant increase in overall Mineral Resources and Ore Reserves, particularly at Tritton.
  • Strong financial performance with increased EBITDA and cash position, and debt repayment.
  • Increased copper production at Tritton and solid gold production at Cracow.
  • Strategic acquisition of Mallee Bull and Wirlong deposits to strengthen future ore sources.

Negative factors

  • Cracow Mineral Resources saw a decrease in contained gold metal despite tonnage increase, indicating grade dilution.
  • Stockman Ore Reserves decreased in grade and contained metal, and prior estimate was based on PFS-level studies.
  • North Queensland assets were divested, removing those resources from the portfolio.

Facts used in scoring: 65

Extracted facts

Stored fact records: 57. Some facts used in scoring do not have a stored record.

Resource Estimates (57)

measuredTritton · copperTonnes: 1800000Grade: 1.4Grade Unit: %Contained Metal: 25Contained Unit: ktView all details
Link to this fact

Identity

Project
Tritton
Commodity
copper
Region
australia
Reported Region
Australia
Ticker
AIS

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Brad Cox, Osvaldo Gonzalez, Jonathon Abbott, Rob Tyson
Resource group id
resource:0a06d9997b8d04aebfa5

Resource Data

Category
measured
Tonnes
1800000
Grade
1.4
Grade Unit
%
Contained Metal
25
Contained Unit
kt

Prior Estimate

Resource Date
2026-06-30
Prior Tonnes
400000
Prior Grade
1
Prior Contained Metal
4

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-16T00:00:00.000Z

Reasoning: Tritton Measured copper resources saw a substantial increase in tonnage and contained metal, indicating improved confidence and growth.

Positive factors

  • Significant increase in Measured tonnage and contained copper.
  • Grade improved.

Evidence · table

“1.4”

Context: 1.8

Tags used in scoring

Measured Resourcepositive

Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.

Why it applies: category is "measured"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

Tonnage Growthpositive

Significant tonnage increase (≥15%) vs prior estimate with grade maintained or improved.

Why it applies: 1800000 against 400000 previously

Grade Improvementpositive

Average resource grade improved vs prior estimate — better deposit economics.

Why it applies: 1.4 against 1 previously

Contained Metal Growthpositive

True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.

Why it applies: 25 against 4 previously

measuredTritton · goldTonnes: 1800000Grade: 0.2Grade Unit: g/tContained Metal: 11Contained Unit: kozView all details
Link to this fact

Identity

Project
Tritton
Commodity
gold
Region
australia
Reported Region
Australia
Ticker
AIS

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Brad Cox, Osvaldo Gonzalez, Jonathon Abbott, Rob Tyson
Resource group id
resource:0a06d9997b8d04aebfa5

Resource Data

Category
measured
Tonnes
1800000
Grade
0.2
Grade Unit
g/t
Contained Metal
11
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30
Prior Tonnes
400000
Prior Grade
0.1
Prior Contained Metal
1

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-16T00:00:00.000Z

Reasoning: Tritton Measured gold resources increased substantially in tonnage and contained metal, reflecting positive resource growth.

Positive factors

  • Significant increase in Measured tonnage and contained gold.
  • Grade improved.

Evidence · table

“0.2”

Context: 1.8

Tags used in scoring

Measured Resourcepositive

Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.

Why it applies: category is "measured"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

Tonnage Growthpositive

Significant tonnage increase (≥15%) vs prior estimate with grade maintained or improved.

Why it applies: 1800000 against 400000 previously

Grade Improvementpositive

Average resource grade improved vs prior estimate — better deposit economics.

Why it applies: 0.2 against 0.1 previously

Contained Metal Growthpositive

True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.

Why it applies: 11 against 1 previously

measuredTritton · silverTonnes: 1800000Grade: 4Grade Unit: g/tContained Metal: 260Contained Unit: kozView all details
Link to this fact

Identity

Project
Tritton
Commodity
silver
Region
australia
Reported Region
Australia
Ticker
AIS

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Brad Cox, Osvaldo Gonzalez, Jonathon Abbott, Rob Tyson
Resource group id
resource:0a06d9997b8d04aebfa5

Resource Data

Category
measured
Tonnes
1800000
Grade
4
Grade Unit
g/t
Contained Metal
260
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30
Prior Tonnes
400000
Prior Grade
2
Prior Contained Metal
30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-16T00:00:00.000Z

Reasoning: Tritton Measured silver resources showed a substantial increase in tonnage and contained metal, indicating positive resource growth.

Positive factors

  • Significant increase in Measured tonnage and contained silver.
  • Grade improved.

Evidence · table

“4”

Context: 1.8

Tags used in scoring

Measured Resourcepositive

Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.

Why it applies: category is "measured"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

Tonnage Growthpositive

Significant tonnage increase (≥15%) vs prior estimate with grade maintained or improved.

Why it applies: 1800000 against 400000 previously

Grade Improvementpositive

Average resource grade improved vs prior estimate — better deposit economics.

Why it applies: 4 against 2 previously

Contained Metal Growthpositive

True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.

Why it applies: 260 against 30 previously

indicatedTritton · copperTonnes: 19000000Grade: 1.6Grade Unit: %Contained Metal: 310Contained Unit: ktView all details
Link to this fact

Identity

Project
Tritton
Commodity
copper
Region
australia
Reported Region
Australia
Ticker
AIS

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Brad Cox, Osvaldo Gonzalez, Jonathon Abbott, Rob Tyson
Resource group id
resource:5e4bc61338d4c4507bd7

Resource Data

Category
indicated
Tonnes
19000000
Grade
1.6
Grade Unit
%
Contained Metal
310
Contained Unit
kt

Prior Estimate

Resource Date
2026-06-30
Prior Tonnes
11000000
Prior Grade
1.6
Prior Contained Metal
180

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-16T00:00:00.000Z

Reasoning: Tritton Indicated copper resources increased substantially in tonnage and contained metal, reflecting strong resource growth and confidence.

Positive factors

  • Significant increase in Indicated tonnage and contained copper.

Evidence · table

“1.6”

Context: 19

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

Tonnage Growthpositive

Significant tonnage increase (≥15%) vs prior estimate with grade maintained or improved.

Why it applies: 19000000 against 11000000 previously

Contained Metal Growthpositive

True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.

Why it applies: 310 against 180 previously

indicatedTritton · zincTonnes: 19000000Grade: 0.4Grade Unit: %Contained Metal: 37Contained Unit: ktView all details
Link to this fact

Identity

Project
Tritton
Commodity
zinc
Region
australia
Reported Region
Australia
Ticker
AIS

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Brad Cox, Osvaldo Gonzalez, Jonathon Abbott, Rob Tyson
Resource group id
resource:5e4bc61338d4c4507bd7

Resource Data

Category
indicated
Tonnes
19000000
Grade
0.4
Grade Unit
%
Contained Metal
37
Contained Unit
kt

Prior Estimate

Resource Date
2026-06-30
Prior Tonnes
11000000

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-16T00:00:00.000Z

Reasoning: Tritton Indicated resources now report zinc, adding a new commodity to the estimate.

Positive factors

  • New zinc grade and contained metal reported for Indicated resources.

Evidence · table

“0.4”

Context: 19

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

Tonnage Growthpositive

Significant tonnage increase (≥15%) vs prior estimate with grade maintained or improved.

Why it applies: 19000000 against 11000000 previously

indicatedTritton · goldTonnes: 19000000Grade: 0.4Grade Unit: g/tContained Metal: 230Contained Unit: kozView all details
Link to this fact

Identity

Project
Tritton
Commodity
gold
Region
australia
Reported Region
Australia
Ticker
AIS

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Brad Cox, Osvaldo Gonzalez, Jonathon Abbott, Rob Tyson
Resource group id
resource:5e4bc61338d4c4507bd7

Resource Data

Category
indicated
Tonnes
19000000
Grade
0.4
Grade Unit
g/t
Contained Metal
230
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30
Prior Tonnes
11000000
Prior Grade
0.4
Prior Contained Metal
160

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-16T00:00:00.000Z

Reasoning: Tritton Indicated gold resources increased substantially in tonnage and contained metal, reflecting strong resource growth.

Positive factors

  • Significant increase in Indicated tonnage and contained gold.

Evidence · table

“0.4”

Context: 19

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

Tonnage Growthpositive

Significant tonnage increase (≥15%) vs prior estimate with grade maintained or improved.

Why it applies: 19000000 against 11000000 previously

Contained Metal Growthpositive

True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.

Why it applies: 230 against 160 previously

indicatedTritton · silverTonnes: 19000000Grade: 12Grade Unit: g/tContained Metal: 7300Contained Unit: kozView all details
Link to this fact

Identity

Project
Tritton
Commodity
silver
Region
australia
Reported Region
Australia
Ticker
AIS

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Brad Cox, Osvaldo Gonzalez, Jonathon Abbott, Rob Tyson
Resource group id
resource:5e4bc61338d4c4507bd7

Resource Data

Category
indicated
Tonnes
19000000
Grade
12
Grade Unit
g/t
Contained Metal
7300
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30
Prior Tonnes
11000000
Prior Grade
4
Prior Contained Metal
1300

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-16T00:00:00.000Z

Reasoning: Tritton Indicated silver resources showed a substantial increase in tonnage, grade, and contained metal, indicating strong resource growth.

Positive factors

  • Significant increase in Indicated tonnage, grade, and contained silver.

Evidence · table

“12”

Context: 19

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

Tonnage Growthpositive

Significant tonnage increase (≥15%) vs prior estimate with grade maintained or improved.

Why it applies: 19000000 against 11000000 previously

Grade Improvementpositive

Average resource grade improved vs prior estimate — better deposit economics.

Why it applies: 12 against 4 previously

Contained Metal Growthpositive

True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.

Why it applies: 7300 against 1300 previously

inferredTritton · copperTonnes: 12000000Grade: 1.8Grade Unit: %Contained Metal: 210Contained Unit: ktView all details
Link to this fact

Identity

Project
Tritton
Commodity
copper
Region
australia
Reported Region
Australia
Ticker
AIS

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Brad Cox, Osvaldo Gonzalez, Jonathon Abbott, Rob Tyson
Resource group id
resource:f551a45ab1e237f15e10

Resource Data

Category
inferred
Tonnes
12000000
Grade
1.8
Grade Unit
%
Contained Metal
210
Contained Unit
kt

Prior Estimate

Resource Date
2026-06-30
Prior Tonnes
7500000
Prior Grade
1.8
Prior Contained Metal
130

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-16T00:00:00.000Z

Reasoning: Tritton Inferred copper resources increased substantially in tonnage and contained metal, indicating positive exploration results.

Positive factors

  • Significant increase in Inferred tonnage and contained copper.

Evidence · table

“1.8”

Context: 12

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

Tonnage Growthpositive

Significant tonnage increase (≥15%) vs prior estimate with grade maintained or improved.

Why it applies: 12000000 against 7500000 previously

Contained Metal Growthpositive

True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.

Why it applies: 210 against 130 previously

inferredTritton · zincTonnes: 12000000Grade: 0.1Grade Unit: %Contained Metal: 2Contained Unit: ktView all details
Link to this fact

Identity

Project
Tritton
Commodity
zinc
Region
australia
Reported Region
Australia
Ticker
AIS

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Brad Cox, Osvaldo Gonzalez, Jonathon Abbott, Rob Tyson
Resource group id
resource:f551a45ab1e237f15e10

Resource Data

Category
inferred
Tonnes
12000000
Grade
0.1
Grade Unit
%
Contained Metal
2
Contained Unit
kt

Prior Estimate

Resource Date
2026-06-30
Prior Tonnes
7500000

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-16T00:00:00.000Z

Reasoning: Tritton Inferred resources now report zinc, adding a new commodity to the estimate.

Positive factors

  • New zinc grade and contained metal reported for Inferred resources.

Evidence · table

“0.1”

Context: 12

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

Tonnage Growthpositive

Significant tonnage increase (≥15%) vs prior estimate with grade maintained or improved.

Why it applies: 12000000 against 7500000 previously

inferredTritton · goldTonnes: 12000000Grade: 0.3Grade Unit: g/tContained Metal: 100Contained Unit: kozView all details
Link to this fact

Identity

Project
Tritton
Commodity
gold
Region
australia
Reported Region
Australia
Ticker
AIS

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Brad Cox, Osvaldo Gonzalez, Jonathon Abbott, Rob Tyson
Resource group id
resource:f551a45ab1e237f15e10

Resource Data

Category
inferred
Tonnes
12000000
Grade
0.3
Grade Unit
g/t
Contained Metal
100
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30
Prior Tonnes
7500000
Prior Grade
0.3
Prior Contained Metal
73

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-16T00:00:00.000Z

Reasoning: Tritton Inferred gold resources increased substantially in tonnage and contained metal, reflecting positive exploration results.

Positive factors

  • Significant increase in Inferred tonnage and contained gold.

Evidence · table

“0.3”

Context: 12

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

Tonnage Growthpositive

Significant tonnage increase (≥15%) vs prior estimate with grade maintained or improved.

Why it applies: 12000000 against 7500000 previously

Contained Metal Growthpositive

True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.

Why it applies: 100 against 73 previously

inferredTritton · silverTonnes: 12000000Grade: 5Grade Unit: g/tContained Metal: 2100Contained Unit: kozView all details
Link to this fact

Identity

Project
Tritton
Commodity
silver
Region
australia
Reported Region
Australia
Ticker
AIS

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Brad Cox, Osvaldo Gonzalez, Jonathon Abbott, Rob Tyson
Resource group id
resource:f551a45ab1e237f15e10

Resource Data

Category
inferred
Tonnes
12000000
Grade
5
Grade Unit
g/t
Contained Metal
2100
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30
Prior Tonnes
7500000
Prior Grade
4
Prior Contained Metal
840

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-16T00:00:00.000Z

Reasoning: Tritton Inferred silver resources showed a substantial increase in tonnage, grade, and contained metal, indicating positive exploration results.

Positive factors

  • Significant increase in Inferred tonnage, grade, and contained silver.

Evidence · table

“5”

Context: 12

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

Tonnage Growthpositive

Significant tonnage increase (≥15%) vs prior estimate with grade maintained or improved.

Why it applies: 12000000 against 7500000 previously

Grade Improvementpositive

Average resource grade improved vs prior estimate — better deposit economics.

Why it applies: 5 against 4 previously

Contained Metal Growthpositive

True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.

Why it applies: 2100 against 840 previously

measuredJaguar · copperTonnes: 500000Grade: 1.6Grade Unit: %Contained Metal: 8Contained Unit: ktView all details
Link to this fact

Identity

Project
Jaguar
Commodity
copper
Region
australia
Reported Region
Australia
Ticker
AIS

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Andrew Fowler
Resource group id
resource:6409595e2ff0c54fd466

Resource Data

Category
measured
Tonnes
500000
Grade
1.6
Grade Unit
%
Contained Metal
8
Contained Unit
kt

Prior Estimate

Resource Date
2026-06-30
Prior Tonnes
500000
Prior Grade
1.6
Prior Contained Metal
8

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-16T00:00:00.000Z

Reasoning: Jaguar Measured copper resources remained unchanged from the previous estimate.

Negative factors

  • Mineral Resource estimate unchanged from prior period.

Evidence · table

“1.6”

Context: 0.50

Tags used in scoring

Measured Resourcepositive

Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.

Why it applies: category is "measured"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

measuredJaguar · zincTonnes: 500000Grade: 5Grade Unit: %Contained Metal: 25Contained Unit: ktView all details
Link to this fact

Identity

Project
Jaguar
Commodity
zinc
Region
australia
Reported Region
Australia
Ticker
AIS

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Andrew Fowler
Resource group id
resource:6409595e2ff0c54fd466

Resource Data

Category
measured
Tonnes
500000
Grade
5
Grade Unit
%
Contained Metal
25
Contained Unit
kt

Prior Estimate

Resource Date
2026-06-30
Prior Tonnes
500000
Prior Grade
5
Prior Contained Metal
25

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-16T00:00:00.000Z

Reasoning: Jaguar Measured zinc resources remained unchanged from the previous estimate.

Negative factors

  • Mineral Resource estimate unchanged from prior period.

Evidence · table

“5.0”

Context: 0.50

Tags used in scoring

Measured Resourcepositive

Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.

Why it applies: category is "measured"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

measuredJaguar · goldTonnes: 500000Grade: 0.3Grade Unit: g/tContained Metal: 4Contained Unit: kozView all details
Link to this fact

Identity

Project
Jaguar
Commodity
gold
Region
australia
Reported Region
Australia
Ticker
AIS

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Andrew Fowler
Resource group id
resource:6409595e2ff0c54fd466

Resource Data

Category
measured
Tonnes
500000
Grade
0.3
Grade Unit
g/t
Contained Metal
4
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30
Prior Tonnes
500000
Prior Grade
0.3
Prior Contained Metal
4

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-16T00:00:00.000Z

Reasoning: Jaguar Measured gold resources remained unchanged from the previous estimate.

Negative factors

  • Mineral Resource estimate unchanged from prior period.

Evidence · table

“0.3”

Context: 0.50

Tags used in scoring

Measured Resourcepositive

Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.

Why it applies: category is "measured"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

measuredJaguar · silverTonnes: 500000Grade: 63Grade Unit: g/tContained Metal: 1000Contained Unit: kozView all details
Link to this fact

Identity

Project
Jaguar
Commodity
silver
Region
australia
Reported Region
Australia
Ticker
AIS

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Andrew Fowler
Resource group id
resource:6409595e2ff0c54fd466

Resource Data

Category
measured
Tonnes
500000
Grade
63
Grade Unit
g/t
Contained Metal
1000
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30
Prior Tonnes
500000
Prior Grade
63
Prior Contained Metal
1000

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-16T00:00:00.000Z

Reasoning: Jaguar Measured silver resources remained unchanged from the previous estimate.

Negative factors

  • Mineral Resource estimate unchanged from prior period.

Evidence · table

“63”

Context: 0.50

Tags used in scoring

Measured Resourcepositive

Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.

Why it applies: category is "measured"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

indicatedJaguar · copperTonnes: 4200000Grade: 1.4Grade Unit: %Contained Metal: 59Contained Unit: ktView all details
Link to this fact

Identity

Project
Jaguar
Commodity
copper
Region
australia
Reported Region
Australia
Ticker
AIS

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Andrew Fowler
Resource group id
resource:b00983fbe673e83e46ac

Resource Data

Category
indicated
Tonnes
4200000
Grade
1.4
Grade Unit
%
Contained Metal
59
Contained Unit
kt

Prior Estimate

Resource Date
2026-06-30
Prior Tonnes
4200000
Prior Grade
1.4
Prior Contained Metal
59

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-16T00:00:00.000Z

Reasoning: Jaguar Indicated copper resources remained unchanged from the previous estimate.

Negative factors

  • Mineral Resource estimate unchanged from prior period.

Evidence · table

“1.4”

Context: 4.2

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

indicatedJaguar · zincTonnes: 4200000Grade: 6.4Grade Unit: %Contained Metal: 270Contained Unit: ktView all details
Link to this fact

Identity

Project
Jaguar
Commodity
zinc
Region
australia
Reported Region
Australia
Ticker
AIS

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Andrew Fowler
Resource group id
resource:b00983fbe673e83e46ac

Resource Data

Category
indicated
Tonnes
4200000
Grade
6.4
Grade Unit
%
Contained Metal
270
Contained Unit
kt

Prior Estimate

Resource Date
2026-06-30
Prior Tonnes
4200000
Prior Grade
6.4
Prior Contained Metal
270

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-16T00:00:00.000Z

Reasoning: Jaguar Indicated zinc resources remained unchanged from the previous estimate.

Negative factors

  • Mineral Resource estimate unchanged from prior period.

Evidence · table

“6.4”

Context: 4.2

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

indicatedJaguar · goldTonnes: 4200000Grade: 0.4Grade Unit: g/tContained Metal: 53Contained Unit: kozView all details
Link to this fact

Identity

Project
Jaguar
Commodity
gold
Region
australia
Reported Region
Australia
Ticker
AIS

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Andrew Fowler
Resource group id
resource:b00983fbe673e83e46ac

Resource Data

Category
indicated
Tonnes
4200000
Grade
0.4
Grade Unit
g/t
Contained Metal
53
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30
Prior Tonnes
4200000
Prior Grade
0.4
Prior Contained Metal
53

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-16T00:00:00.000Z

Reasoning: Jaguar Indicated gold resources remained unchanged from the previous estimate.

Negative factors

  • Mineral Resource estimate unchanged from prior period.

Evidence · table

“0.4”

Context: 4.2

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

indicatedJaguar · silverTonnes: 4200000Grade: 67Grade Unit: g/tContained Metal: 9000Contained Unit: kozView all details
Link to this fact

Identity

Project
Jaguar
Commodity
silver
Region
australia
Reported Region
Australia
Ticker
AIS

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Andrew Fowler
Resource group id
resource:b00983fbe673e83e46ac

Resource Data

Category
indicated
Tonnes
4200000
Grade
67
Grade Unit
g/t
Contained Metal
9000
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30
Prior Tonnes
4200000
Prior Grade
67
Prior Contained Metal
9000

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-16T00:00:00.000Z

Reasoning: Jaguar Indicated silver resources remained unchanged from the previous estimate.

Negative factors

  • Mineral Resource estimate unchanged from prior period.

Evidence · table

“67”

Context: 4.2

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

inferredJaguar · copperTonnes: 2000000Grade: 1.1Grade Unit: %Contained Metal: 23Contained Unit: ktView all details
Link to this fact

Identity

Project
Jaguar
Commodity
copper
Region
australia
Reported Region
Australia
Ticker
AIS

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Andrew Fowler
Resource group id
resource:9f6b5d64c17d3916406f

Resource Data

Category
inferred
Tonnes
2000000
Grade
1.1
Grade Unit
%
Contained Metal
23
Contained Unit
kt

Prior Estimate

Resource Date
2026-06-30
Prior Tonnes
2000000
Prior Grade
1.1
Prior Contained Metal
23

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-16T00:00:00.000Z

Reasoning: Jaguar Inferred copper resources remained unchanged from the previous estimate.

Negative factors

  • Mineral Resource estimate unchanged from prior period.

Evidence · table

“1.1”

Context: 2.0

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

inferredJaguar · zincTonnes: 2000000Grade: 6.5Grade Unit: %Contained Metal: 130Contained Unit: ktView all details
Link to this fact

Identity

Project
Jaguar
Commodity
zinc
Region
australia
Reported Region
Australia
Ticker
AIS

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Andrew Fowler
Resource group id
resource:9f6b5d64c17d3916406f

Resource Data

Category
inferred
Tonnes
2000000
Grade
6.5
Grade Unit
%
Contained Metal
130
Contained Unit
kt

Prior Estimate

Resource Date
2026-06-30
Prior Tonnes
2000000
Prior Grade
6.5
Prior Contained Metal
130

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-16T00:00:00.000Z

Reasoning: Jaguar Inferred zinc resources remained unchanged from the previous estimate.

Negative factors

  • Mineral Resource estimate unchanged from prior period.

Evidence · table

“6.5”

Context: 2.0

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

inferredJaguar · goldTonnes: 2000000Grade: 1Grade Unit: g/tContained Metal: 62Contained Unit: kozView all details
Link to this fact

Identity

Project
Jaguar
Commodity
gold
Region
australia
Reported Region
Australia
Ticker
AIS

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Andrew Fowler
Resource group id
resource:9f6b5d64c17d3916406f

Resource Data

Category
inferred
Tonnes
2000000
Grade
1
Grade Unit
g/t
Contained Metal
62
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30
Prior Tonnes
2000000
Prior Grade
1
Prior Contained Metal
62

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-16T00:00:00.000Z

Reasoning: Jaguar Inferred gold resources remained unchanged from the previous estimate.

Negative factors

  • Mineral Resource estimate unchanged from prior period.

Evidence · table

“1.0”

Context: 2.0

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

inferredJaguar · silverTonnes: 2000000Grade: 83Grade Unit: g/tContained Metal: 5300Contained Unit: kozView all details
Link to this fact

Identity

Project
Jaguar
Commodity
silver
Region
australia
Reported Region
Australia
Ticker
AIS

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Andrew Fowler
Resource group id
resource:9f6b5d64c17d3916406f

Resource Data

Category
inferred
Tonnes
2000000
Grade
83
Grade Unit
g/t
Contained Metal
5300
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30
Prior Tonnes
2000000
Prior Grade
83
Prior Contained Metal
5300

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-16T00:00:00.000Z

Reasoning: Jaguar Inferred silver resources remained unchanged from the previous estimate.

Negative factors

  • Mineral Resource estimate unchanged from prior period.

Evidence · table

“83”

Context: 2.0

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

measuredNorth Qld · copperTonnes: 200000Grade: 2.3Grade Unit: %Contained Metal: 5Contained Unit: ktHistorical resultNeeds review: historical_restatementView all details
Link to this fact

Identity

Project
North Qld
Commodity
copper
Region
australia_qld
Reported Region
North Queensland
Ticker
AIS

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Brad Cox
Resource group id
resource:126b3b8be63a87936e16

Resource Data

Category
measured
Tonnes
200000
Grade
2.3
Grade Unit
%
Contained Metal
5
Contained Unit
kt

Prior Estimate

Resource Date
2024-12-31

Review

Needs Review
Yes
Review Reason
historical_restatement
Historical
Yes
Historical Source Date
2024-12-31T00:00:00.000Z

Dates

Event date
2026-10-16T00:00:00.000Z

Reasoning: North Queensland Measured copper resources are historical and no longer owned by the company due to divestment.

Negative factors

  • Project divested, these resources are no longer part of the company's portfolio.

Evidence · table

“2.3”

Context: 0.20

Tags used in scoring

Measured Resourcepositive

Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.

Why it applies: category is "measured"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

measuredNorth Qld · goldTonnes: 200000Grade: 0.5Grade Unit: g/tContained Metal: 3Contained Unit: kozHistorical resultNeeds review: historical_restatementView all details
Link to this fact

Identity

Project
North Qld
Commodity
gold
Region
australia_qld
Reported Region
North Queensland
Ticker
AIS

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Brad Cox
Resource group id
resource:126b3b8be63a87936e16

Resource Data

Category
measured
Tonnes
200000
Grade
0.5
Grade Unit
g/t
Contained Metal
3
Contained Unit
koz

Prior Estimate

Resource Date
2024-12-31

Review

Needs Review
Yes
Review Reason
historical_restatement
Historical
Yes
Historical Source Date
2024-12-31T00:00:00.000Z

Dates

Event date
2026-10-16T00:00:00.000Z

Reasoning: North Queensland Measured gold resources are historical and no longer owned by the company due to divestment.

Negative factors

  • Project divested, these resources are no longer part of the company's portfolio.

Evidence · table

“0.5”

Context: 0.20

Tags used in scoring

Measured Resourcepositive

Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.

Why it applies: category is "measured"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

indicatedNorth Qld · copperTonnes: 2400000Grade: 2Grade Unit: %Contained Metal: 47Contained Unit: ktHistorical resultNeeds review: historical_restatementView all details
Link to this fact

Identity

Project
North Qld
Commodity
copper
Region
australia_qld
Reported Region
North Queensland
Ticker
AIS

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Brad Cox
Resource group id
resource:d4bc64d81e6971f6f6aa

Resource Data

Category
indicated
Tonnes
2400000
Grade
2
Grade Unit
%
Contained Metal
47
Contained Unit
kt

Prior Estimate

Resource Date
2024-12-31

Review

Needs Review
Yes
Review Reason
historical_restatement
Historical
Yes
Historical Source Date
2024-12-31T00:00:00.000Z

Dates

Event date
2026-10-16T00:00:00.000Z

Reasoning: North Queensland Indicated copper resources are historical and no longer owned by the company due to divestment.

Negative factors

  • Project divested, these resources are no longer part of the company's portfolio.

Evidence · table

“2.0”

Context: 2.4

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

indicatedNorth Qld · goldTonnes: 2400000Grade: 0.2Grade Unit: g/tContained Metal: 16Contained Unit: kozHistorical resultNeeds review: historical_restatementView all details
Link to this fact

Identity

Project
North Qld
Commodity
gold
Region
australia_qld
Reported Region
North Queensland
Ticker
AIS

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Brad Cox
Resource group id
resource:d4bc64d81e6971f6f6aa

Resource Data

Category
indicated
Tonnes
2400000
Grade
0.2
Grade Unit
g/t
Contained Metal
16
Contained Unit
koz

Prior Estimate

Resource Date
2024-12-31

Review

Needs Review
Yes
Review Reason
historical_restatement
Historical
Yes
Historical Source Date
2024-12-31T00:00:00.000Z

Dates

Event date
2026-10-16T00:00:00.000Z

Reasoning: North Queensland Indicated gold resources are historical and no longer owned by the company due to divestment.

Negative factors

  • Project divested, these resources are no longer part of the company's portfolio.

Evidence · table

“0.2”

Context: 2.4

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

indicatedNorth Qld · silverTonnes: 2400000Grade: 3Grade Unit: g/tContained Metal: 210Contained Unit: kozHistorical resultNeeds review: historical_restatementView all details
Link to this fact

Identity

Project
North Qld
Commodity
silver
Region
australia_qld
Reported Region
North Queensland
Ticker
AIS

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Brad Cox
Resource group id
resource:d4bc64d81e6971f6f6aa

Resource Data

Category
indicated
Tonnes
2400000
Grade
3
Grade Unit
g/t
Contained Metal
210
Contained Unit
koz

Prior Estimate

Resource Date
2024-12-31

Review

Needs Review
Yes
Review Reason
historical_restatement
Historical
Yes
Historical Source Date
2024-12-31T00:00:00.000Z

Dates

Event date
2026-10-16T00:00:00.000Z

Reasoning: North Queensland Indicated silver resources are historical and no longer owned by the company due to divestment.

Negative factors

  • Project divested, these resources are no longer part of the company's portfolio.

Evidence · table

“3”

Context: 2.4

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

inferredNorth Qld · copperTonnes: 600000Grade: 2Grade Unit: %Contained Metal: 12Contained Unit: ktHistorical resultNeeds review: historical_restatementView all details
Link to this fact

Identity

Project
North Qld
Commodity
copper
Region
australia_qld
Reported Region
North Queensland
Ticker
AIS

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Brad Cox
Resource group id
resource:769020c65160462b6147

Resource Data

Category
inferred
Tonnes
600000
Grade
2
Grade Unit
%
Contained Metal
12
Contained Unit
kt

Prior Estimate

Resource Date
2024-12-31

Review

Needs Review
Yes
Review Reason
historical_restatement
Historical
Yes
Historical Source Date
2024-12-31T00:00:00.000Z

Dates

Event date
2026-10-16T00:00:00.000Z

Reasoning: North Queensland Inferred copper resources are historical and no longer owned by the company due to divestment.

Negative factors

  • Project divested, these resources are no longer part of the company's portfolio.

Evidence · table

“2.0”

Context: 0.6

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

inferredNorth Qld · goldTonnes: 600000Grade: 0.1Grade Unit: g/tContained Metal: 2Contained Unit: kozHistorical resultNeeds review: historical_restatementView all details
Link to this fact

Identity

Project
North Qld
Commodity
gold
Region
australia_qld
Reported Region
North Queensland
Ticker
AIS

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Brad Cox
Resource group id
resource:769020c65160462b6147

Resource Data

Category
inferred
Tonnes
600000
Grade
0.1
Grade Unit
g/t
Contained Metal
2
Contained Unit
koz

Prior Estimate

Resource Date
2024-12-31

Review

Needs Review
Yes
Review Reason
historical_restatement
Historical
Yes
Historical Source Date
2024-12-31T00:00:00.000Z

Dates

Event date
2026-10-16T00:00:00.000Z

Reasoning: North Queensland Inferred gold resources are historical and no longer owned by the company due to divestment.

Negative factors

  • Project divested, these resources are no longer part of the company's portfolio.

Evidence · table

“0.1”

Context: 0.6

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

inferredNorth Qld · silverTonnes: 600000Grade: 2Grade Unit: g/tContained Metal: 30Contained Unit: kozHistorical resultNeeds review: historical_restatementView all details
Link to this fact

Identity

Project
North Qld
Commodity
silver
Region
australia_qld
Reported Region
North Queensland
Ticker
AIS

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Brad Cox
Resource group id
resource:769020c65160462b6147

Resource Data

Category
inferred
Tonnes
600000
Grade
2
Grade Unit
g/t
Contained Metal
30
Contained Unit
koz

Prior Estimate

Resource Date
2024-12-31

Review

Needs Review
Yes
Review Reason
historical_restatement
Historical
Yes
Historical Source Date
2024-12-31T00:00:00.000Z

Dates

Event date
2026-10-16T00:00:00.000Z

Reasoning: North Queensland Inferred silver resources are historical and no longer owned by the company due to divestment.

Negative factors

  • Project divested, these resources are no longer part of the company's portfolio.

Evidence · table

“2”

Context: 0.6

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

indicatedStockman · copperTonnes: 15000000Grade: 2Grade Unit: %Contained Metal: 290Contained Unit: ktView all details
Link to this fact

Identity

Project
Stockman
Commodity
copper
Region
australia_vic
Reported Region
Victoria
Ticker
AIS

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Brad Cox
Resource group id
resource:42bc81240f897f69621b

Resource Data

Category
indicated
Tonnes
15000000
Grade
2
Grade Unit
%
Contained Metal
290
Contained Unit
kt

Prior Estimate

Resource Date
2026-06-30
Prior Tonnes
13400000
Prior Grade
2.1
Prior Contained Metal
290

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-16T00:00:00.000Z

Reasoning: Stockman Indicated copper resources increased in tonnage but saw a slight grade decrease, resulting in flat contained metal.

Positive factors

  • Increase in Indicated tonnage.

Negative factors

  • Slight decrease in grade, contained metal remained flat despite tonnage increase.

Evidence · table

“2.0”

Context: 15

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

Dilutive Growthnegative

Tonnage increased but contained metal flat or down — likely from lower cut-off grade, not geological expansion.

Why it applies: tonnage rose while contained metal went 290 from 290

indicatedStockman · zincTonnes: 15000000Grade: 3.9Grade Unit: %Contained Metal: 570Contained Unit: ktView all details
Link to this fact

Identity

Project
Stockman
Commodity
zinc
Region
australia_vic
Reported Region
Victoria
Ticker
AIS

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Brad Cox
Resource group id
resource:42bc81240f897f69621b

Resource Data

Category
indicated
Tonnes
15000000
Grade
3.9
Grade Unit
%
Contained Metal
570
Contained Unit
kt

Prior Estimate

Resource Date
2026-06-30
Prior Tonnes
13400000
Prior Grade
4.2
Prior Contained Metal
560

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-16T00:00:00.000Z

Reasoning: Stockman Indicated zinc resources increased in tonnage and contained metal, but with a decrease in grade.

Positive factors

  • Increase in Indicated tonnage and contained zinc.

Negative factors

  • Decrease in grade.

Evidence · table

“3.9”

Context: 15

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

Grade Declinenegative

Average grade dropped >5% vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling.

Why it applies: 3.9 against 4.2 previously

Dilutive Growthnegative

Tonnage increased but contained metal flat or down — likely from lower cut-off grade, not geological expansion.

Why it applies: tonnage rose while contained metal went 570 from 560

indicatedStockman · goldTonnes: 15000000Grade: 0.9Grade Unit: g/tContained Metal: 420Contained Unit: kozView all details
Link to this fact

Identity

Project
Stockman
Commodity
gold
Region
australia_vic
Reported Region
Victoria
Ticker
AIS

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Brad Cox
Resource group id
resource:42bc81240f897f69621b

Resource Data

Category
indicated
Tonnes
15000000
Grade
0.9
Grade Unit
g/t
Contained Metal
420
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30
Prior Tonnes
13400000
Prior Grade
1
Prior Contained Metal
420

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-16T00:00:00.000Z

Reasoning: Stockman Indicated gold resources increased in tonnage but saw a grade decrease, resulting in flat contained metal.

Positive factors

  • Increase in Indicated tonnage.

Negative factors

  • Decrease in grade, contained metal remained flat despite tonnage increase.

Evidence · table

“0.9”

Context: 15

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

Grade Declinenegative

Average grade dropped >5% vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling.

Why it applies: 0.9 against 1 previously

Dilutive Growthnegative

Tonnage increased but contained metal flat or down — likely from lower cut-off grade, not geological expansion.

Why it applies: tonnage rose while contained metal went 420 from 420

indicatedStockman · silverTonnes: 15000000Grade: 35Grade Unit: g/tContained Metal: 16000Contained Unit: kozView all details
Link to this fact

Identity

Project
Stockman
Commodity
silver
Region
australia_vic
Reported Region
Victoria
Ticker
AIS

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Brad Cox
Resource group id
resource:42bc81240f897f69621b

Resource Data

Category
indicated
Tonnes
15000000
Grade
35
Grade Unit
g/t
Contained Metal
16000
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30
Prior Tonnes
13400000
Prior Grade
37
Prior Contained Metal
16000

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-16T00:00:00.000Z

Reasoning: Stockman Indicated silver resources increased in tonnage but saw a grade decrease, resulting in flat contained metal.

Positive factors

  • Increase in Indicated tonnage.

Negative factors

  • Decrease in grade, contained metal remained flat despite tonnage increase.

Evidence · table

“35”

Context: 15

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

Grade Declinenegative

Average grade dropped >5% vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling.

Why it applies: 35 against 37 previously

Dilutive Growthnegative

Tonnage increased but contained metal flat or down — likely from lower cut-off grade, not geological expansion.

Why it applies: tonnage rose while contained metal went 16000 from 16000

inferredStockman · copperTonnes: 2500000Grade: 1.1Grade Unit: %Contained Metal: 28Contained Unit: ktView all details
Link to this fact

Identity

Project
Stockman
Commodity
copper
Region
australia_vic
Reported Region
Victoria
Ticker
AIS

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Brad Cox
Resource group id
resource:01f15d09099c2d2b8464

Resource Data

Category
inferred
Tonnes
2500000
Grade
1.1
Grade Unit
%
Contained Metal
28
Contained Unit
kt

Prior Estimate

Resource Date
2026-06-30
Prior Tonnes
2400000
Prior Grade
1.1
Prior Contained Metal
27

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-16T00:00:00.000Z

Reasoning: Stockman Inferred copper resources saw a slight increase in tonnage and contained metal.

Positive factors

  • Increase in Inferred tonnage and contained copper.

Evidence · table

“1.1”

Context: 2.5

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

Dilutive Growthnegative

Tonnage increased but contained metal flat or down — likely from lower cut-off grade, not geological expansion.

Why it applies: tonnage rose while contained metal went 28 from 27

inferredStockman · zincTonnes: 2500000Grade: 2.3Grade Unit: %Contained Metal: 57Contained Unit: ktView all details
Link to this fact

Identity

Project
Stockman
Commodity
zinc
Region
australia_vic
Reported Region
Victoria
Ticker
AIS

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Brad Cox
Resource group id
resource:01f15d09099c2d2b8464

Resource Data

Category
inferred
Tonnes
2500000
Grade
2.3
Grade Unit
%
Contained Metal
57
Contained Unit
kt

Prior Estimate

Resource Date
2026-06-30
Prior Tonnes
2400000
Prior Grade
2.6
Prior Contained Metal
62

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-16T00:00:00.000Z

Reasoning: Stockman Inferred zinc resources increased in tonnage but decreased in grade and contained metal.

Positive factors

  • Slight increase in Inferred tonnage.

Negative factors

  • Decrease in grade and contained zinc.

Evidence · table

“2.3”

Context: 2.5

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

Grade Declinenegative

Average grade dropped >5% vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling.

Why it applies: 2.3 against 2.6 previously

Contained Metal Declinenegative

Contained metal decreased vs prior despite tonnage growth — grade dilution exceeds volume gain.

Why it applies: 57 against 62 previously

Dilutive Growthnegative

Tonnage increased but contained metal flat or down — likely from lower cut-off grade, not geological expansion.

Why it applies: tonnage rose while contained metal went 57 from 62

inferredStockman · goldTonnes: 2500000Grade: 1.1Grade Unit: g/tContained Metal: 88Contained Unit: kozView all details
Link to this fact

Identity

Project
Stockman
Commodity
gold
Region
australia_vic
Reported Region
Victoria
Ticker
AIS

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Brad Cox
Resource group id
resource:01f15d09099c2d2b8464

Resource Data

Category
inferred
Tonnes
2500000
Grade
1.1
Grade Unit
g/t
Contained Metal
88
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30
Prior Tonnes
2400000
Prior Grade
1.5
Prior Contained Metal
120

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-16T00:00:00.000Z

Reasoning: Stockman Inferred gold resources increased in tonnage but decreased significantly in grade and contained metal.

Positive factors

  • Slight increase in Inferred tonnage.

Negative factors

  • Decrease in grade and contained gold.

Evidence · table

“1.1”

Context: 2.5

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

Grade Declinenegative

Average grade dropped >5% vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling.

Why it applies: 1.1 against 1.5 previously

Contained Metal Declinenegative

Contained metal decreased vs prior despite tonnage growth — grade dilution exceeds volume gain.

Why it applies: 88 against 120 previously

Dilutive Growthnegative

Tonnage increased but contained metal flat or down — likely from lower cut-off grade, not geological expansion.

Why it applies: tonnage rose while contained metal went 88 from 120

inferredStockman · silverTonnes: 2500000Grade: 28Grade Unit: g/tContained Metal: 2200Contained Unit: kozView all details
Link to this fact

Identity

Project
Stockman
Commodity
silver
Region
australia_vic
Reported Region
Victoria
Ticker
AIS

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Brad Cox
Resource group id
resource:01f15d09099c2d2b8464

Resource Data

Category
inferred
Tonnes
2500000
Grade
28
Grade Unit
g/t
Contained Metal
2200
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30
Prior Tonnes
2400000
Prior Grade
32
Prior Contained Metal
2400

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-16T00:00:00.000Z

Reasoning: Stockman Inferred silver resources increased in tonnage but decreased in grade and contained metal.

Positive factors

  • Slight increase in Inferred tonnage.

Negative factors

  • Decrease in grade and contained silver.

Evidence · table

“28”

Context: 2.5

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

Grade Declinenegative

Average grade dropped >5% vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling.

Why it applies: 28 against 32 previously

Contained Metal Declinenegative

Contained metal decreased vs prior despite tonnage growth — grade dilution exceeds volume gain.

Why it applies: 2200 against 2400 previously

Dilutive Growthnegative

Tonnage increased but contained metal flat or down — likely from lower cut-off grade, not geological expansion.

Why it applies: tonnage rose while contained metal went 2200 from 2400

measuredCracow · goldTonnes: 300000Grade: 3.3Grade Unit: g/tContained Metal: 34Contained Unit: kozView all details
Link to this fact

Identity

Project
Cracow
Commodity
gold
Region
australia
Reported Region
Australia
Ticker
AIS

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Liam Machin, Brad Cox
Resource group id
resource:9f40054103d9e6424b90

Resource Data

Category
measured
Tonnes
300000
Grade
3.3
Grade Unit
g/t
Contained Metal
34
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30
Prior Tonnes
400000
Prior Grade
4
Prior Contained Metal
46

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-16T00:00:00.000Z

Reasoning: Cracow Measured gold resources decreased in tonnage, grade, and contained metal, indicating depletion or reclassification.

Negative factors

  • Decrease in Measured tonnage, grade, and contained gold.

Evidence · table

“3.3”

Context: 0.30

Tags used in scoring

Measured Resourcepositive

Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.

Why it applies: category is "measured"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

Tonnage Declinenegative

Resource tonnage decreased vs prior estimate — pit optimization removed marginal material or geological model revised down.

Why it applies: 300000 against 400000 previously

Grade Declinenegative

Average grade dropped >5% vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling.

Why it applies: 3.3 against 4 previously

Contained Metal Declinenegative

Contained metal decreased vs prior despite tonnage growth — grade dilution exceeds volume gain.

Why it applies: 34 against 46 previously

measuredCracow · silverTonnes: 300000Grade: 3Grade Unit: g/tContained Metal: 30Contained Unit: kozView all details
Link to this fact

Identity

Project
Cracow
Commodity
silver
Region
australia
Reported Region
Australia
Ticker
AIS

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Liam Machin, Brad Cox
Resource group id
resource:9f40054103d9e6424b90

Resource Data

Category
measured
Tonnes
300000
Grade
3
Grade Unit
g/t
Contained Metal
30
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30
Prior Tonnes
400000
Prior Grade
3
Prior Contained Metal
40

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-16T00:00:00.000Z

Reasoning: Cracow Measured silver resources decreased in tonnage and contained metal, indicating depletion or reclassification.

Negative factors

  • Decrease in Measured tonnage and contained silver.

Evidence · table

“3”

Context: 0.30

Tags used in scoring

Measured Resourcepositive

Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.

Why it applies: category is "measured"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

Tonnage Declinenegative

Resource tonnage decreased vs prior estimate — pit optimization removed marginal material or geological model revised down.

Why it applies: 300000 against 400000 previously

Contained Metal Declinenegative

Contained metal decreased vs prior despite tonnage growth — grade dilution exceeds volume gain.

Why it applies: 30 against 40 previously

indicatedCracow · goldTonnes: 2100000Grade: 3.1Grade Unit: g/tContained Metal: 210Contained Unit: kozView all details
Link to this fact

Identity

Project
Cracow
Commodity
gold
Region
australia
Reported Region
Australia
Ticker
AIS

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Liam Machin, Brad Cox
Resource group id
resource:3f89921cf5d6611f07c2

Resource Data

Category
indicated
Tonnes
2100000
Grade
3.1
Grade Unit
g/t
Contained Metal
210
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30
Prior Tonnes
1900000
Prior Grade
3.6
Prior Contained Metal
220

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-16T00:00:00.000Z

Reasoning: Cracow Indicated gold resources increased in tonnage but decreased in grade and contained metal, indicating grade dilution.

Positive factors

  • Increase in Indicated tonnage.

Negative factors

  • Decrease in grade and contained gold.

Evidence · table

“3.1”

Context: 2.1

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

Grade Declinenegative

Average grade dropped >5% vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling.

Why it applies: 3.1 against 3.6 previously

Contained Metal Declinenegative

Contained metal decreased vs prior despite tonnage growth — grade dilution exceeds volume gain.

Why it applies: 210 against 220 previously

Dilutive Growthnegative

Tonnage increased but contained metal flat or down — likely from lower cut-off grade, not geological expansion.

Why it applies: tonnage rose while contained metal went 210 from 220

indicatedCracow · silverTonnes: 2100000Grade: 3Grade Unit: g/tContained Metal: 220Contained Unit: kozView all details
Link to this fact

Identity

Project
Cracow
Commodity
silver
Region
australia
Reported Region
Australia
Ticker
AIS

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Liam Machin, Brad Cox
Resource group id
resource:3f89921cf5d6611f07c2

Resource Data

Category
indicated
Tonnes
2100000
Grade
3
Grade Unit
g/t
Contained Metal
220
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30
Prior Tonnes
1900000
Prior Grade
4
Prior Contained Metal
230

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-16T00:00:00.000Z

Reasoning: Cracow Indicated silver resources increased in tonnage but decreased in grade and contained metal, indicating grade dilution.

Positive factors

  • Increase in Indicated tonnage.

Negative factors

  • Decrease in grade and contained silver.

Evidence · table

“3”

Context: 2.1

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

Grade Declinenegative

Average grade dropped >5% vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling.

Why it applies: 3 against 4 previously

Contained Metal Declinenegative

Contained metal decreased vs prior despite tonnage growth — grade dilution exceeds volume gain.

Why it applies: 220 against 230 previously

Dilutive Growthnegative

Tonnage increased but contained metal flat or down — likely from lower cut-off grade, not geological expansion.

Why it applies: tonnage rose while contained metal went 220 from 230

inferredCracow · goldTonnes: 2600000Grade: 2.1Grade Unit: g/tContained Metal: 180Contained Unit: kozView all details
Link to this fact

Identity

Project
Cracow
Commodity
gold
Region
australia
Reported Region
Australia
Ticker
AIS

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Liam Machin, Brad Cox
Resource group id
resource:0d0784ca537d76beffc7

Resource Data

Category
inferred
Tonnes
2600000
Grade
2.1
Grade Unit
g/t
Contained Metal
180
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30
Prior Tonnes
2100000
Prior Grade
2.6
Prior Contained Metal
180

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-16T00:00:00.000Z

Reasoning: Cracow Inferred gold resources increased in tonnage but decreased in grade, resulting in flat contained metal.

Positive factors

  • Increase in Inferred tonnage.

Negative factors

  • Decrease in grade, contained metal remained flat despite tonnage increase.

Evidence · table

“2.1”

Context: 2.6

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

Tonnage Growthpositive

Significant tonnage increase (≥15%) vs prior estimate with grade maintained or improved.

Why it applies: 2600000 against 2100000 previously

Grade Declinenegative

Average grade dropped >5% vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling.

Why it applies: 2.1 against 2.6 previously

Dilutive Growthnegative

Tonnage increased but contained metal flat or down — likely from lower cut-off grade, not geological expansion.

Why it applies: tonnage rose while contained metal went 180 from 180

inferredCracow · silverTonnes: 2600000Grade: 4Grade Unit: g/tContained Metal: 340Contained Unit: kozView all details
Link to this fact

Identity

Project
Cracow
Commodity
silver
Region
australia
Reported Region
Australia
Ticker
AIS

Resource scope

Estimate type
resource
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Liam Machin, Brad Cox
Resource group id
resource:0d0784ca537d76beffc7

Resource Data

Category
inferred
Tonnes
2600000
Grade
4
Grade Unit
g/t
Contained Metal
340
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30
Prior Tonnes
2100000
Prior Grade
4
Prior Contained Metal
300

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-16T00:00:00.000Z

Reasoning: Cracow Inferred silver resources increased in tonnage and contained metal, with grade remaining stable.

Positive factors

  • Increase in Inferred tonnage and contained silver.

Evidence · table

“4”

Context: 2.6

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

Tonnage Growthpositive

Significant tonnage increase (≥15%) vs prior estimate with grade maintained or improved.

Why it applies: 2600000 against 2100000 previously

Contained Metal Growthpositive

True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.

Why it applies: 340 against 300 previously

provenTritton · copperTonnes: 750000Grade: 1.2Grade Unit: %Contained Metal: 9.2Contained Unit: ktView all details
Link to this fact

Identity

Project
Tritton
Commodity
copper
Region
australia
Reported Region
Australia
Ticker
AIS

Resource scope

Estimate type
reserve
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Tim Brettell, Tyler Benson, Max McInnis
Resource group id
resource:f0ffa22735db70532493

Resource Data

Category
proven
Tonnes
750000
Grade
1.2
Grade Unit
%
Contained Metal
9.2
Contained Unit
kt

Prior Estimate

Resource Date
2026-06-30
Prior Tonnes
100000
Prior Grade
0.7
Prior Contained Metal
0.7

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-16T00:00:00.000Z

Reasoning: Tritton Proved copper reserves saw a substantial increase in tonnage, grade, and contained metal, indicating strong reserve growth.

Positive factors

  • Significant increase in Proved tonnage, grade, and contained copper.

Evidence · table

“1.2”

Context: 0.75

Tags used in scoring

Proven Reservepositive

Measured Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "proven"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

Tonnage Growthpositive

Significant tonnage increase (≥15%) vs prior estimate with grade maintained or improved.

Why it applies: 750000 against 100000 previously

Grade Improvementpositive

Average resource grade improved vs prior estimate — better deposit economics.

Why it applies: 1.2 against 0.7 previously

Contained Metal Growthpositive

True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.

Why it applies: 9.2 against 0.7 previously

provenTritton · goldTonnes: 750000Grade: 0.1Grade Unit: g/tContained Metal: 2.4Contained Unit: kozView all details
Link to this fact

Identity

Project
Tritton
Commodity
gold
Region
australia
Reported Region
Australia
Ticker
AIS

Resource scope

Estimate type
reserve
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Tim Brettell, Tyler Benson, Max McInnis
Resource group id
resource:f0ffa22735db70532493

Resource Data

Category
proven
Tonnes
750000
Grade
0.1
Grade Unit
g/t
Contained Metal
2.4
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30
Prior Tonnes
100000

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-16T00:00:00.000Z

Reasoning: Tritton Proved reserves now report gold, adding a new commodity to the estimate.

Positive factors

  • New gold grade and contained metal reported for Proved reserves.

Evidence · table

“0.1”

Context: 0.75

Tags used in scoring

Proven Reservepositive

Measured Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "proven"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

Tonnage Growthpositive

Significant tonnage increase (≥15%) vs prior estimate with grade maintained or improved.

Why it applies: 750000 against 100000 previously

provenTritton · silverTonnes: 750000Grade: 3Grade Unit: g/tContained Metal: 63Contained Unit: kozView all details
Link to this fact

Identity

Project
Tritton
Commodity
silver
Region
australia
Reported Region
Australia
Ticker
AIS

Resource scope

Estimate type
reserve
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Tim Brettell, Tyler Benson, Max McInnis
Resource group id
resource:f0ffa22735db70532493

Resource Data

Category
proven
Tonnes
750000
Grade
3
Grade Unit
g/t
Contained Metal
63
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30
Prior Tonnes
100000

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-16T00:00:00.000Z

Reasoning: Tritton Proved reserves now report silver, adding a new commodity to the estimate.

Positive factors

  • New silver grade and contained metal reported for Proved reserves.

Evidence · table

“3”

Context: 0.75

Tags used in scoring

Proven Reservepositive

Measured Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "proven"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

Tonnage Growthpositive

Significant tonnage increase (≥15%) vs prior estimate with grade maintained or improved.

Why it applies: 750000 against 100000 previously

probableTritton · copperTonnes: 9400000Grade: 1.8Grade Unit: %Contained Metal: 170Contained Unit: ktView all details
Link to this fact

Identity

Project
Tritton
Commodity
copper
Region
australia
Reported Region
Australia
Ticker
AIS

Resource scope

Estimate type
reserve
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Tim Brettell, Tyler Benson, Max McInnis
Resource group id
resource:36f12d2f03a80a0856b9

Resource Data

Category
probable
Tonnes
9400000
Grade
1.8
Grade Unit
%
Contained Metal
170
Contained Unit
kt

Prior Estimate

Resource Date
2026-06-30
Prior Tonnes
2300000
Prior Grade
1.6
Prior Contained Metal
36

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-16T00:00:00.000Z

Reasoning: Tritton Probable copper reserves saw a substantial increase in tonnage, grade, and contained metal, indicating strong reserve growth.

Positive factors

  • Significant increase in Probable tonnage, grade, and contained copper.

Evidence · table

“1.8”

Context: 9.4

Tags used in scoring

Probable Reservepositive

Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

Tonnage Growthpositive

Significant tonnage increase (≥15%) vs prior estimate with grade maintained or improved.

Why it applies: 9400000 against 2300000 previously

Grade Improvementpositive

Average resource grade improved vs prior estimate — better deposit economics.

Why it applies: 1.8 against 1.6 previously

Contained Metal Growthpositive

True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.

Why it applies: 170 against 36 previously

probableTritton · goldTonnes: 9400000Grade: 0.4Grade Unit: g/tContained Metal: 120Contained Unit: kozView all details
Link to this fact

Identity

Project
Tritton
Commodity
gold
Region
australia
Reported Region
Australia
Ticker
AIS

Resource scope

Estimate type
reserve
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Tim Brettell, Tyler Benson, Max McInnis
Resource group id
resource:36f12d2f03a80a0856b9

Resource Data

Category
probable
Tonnes
9400000
Grade
0.4
Grade Unit
g/t
Contained Metal
120
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30
Prior Tonnes
2300000
Prior Grade
0.3
Prior Contained Metal
23

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-16T00:00:00.000Z

Reasoning: Tritton Probable gold reserves saw a substantial increase in tonnage, grade, and contained metal, indicating strong reserve growth.

Positive factors

  • Significant increase in Probable tonnage, grade, and contained gold.

Evidence · table

“0.4”

Context: 9.4

Tags used in scoring

Probable Reservepositive

Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

Tonnage Growthpositive

Significant tonnage increase (≥15%) vs prior estimate with grade maintained or improved.

Why it applies: 9400000 against 2300000 previously

Grade Improvementpositive

Average resource grade improved vs prior estimate — better deposit economics.

Why it applies: 0.4 against 0.3 previously

Contained Metal Growthpositive

True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.

Why it applies: 120 against 23 previously

probableTritton · silverTonnes: 9400000Grade: 11Grade Unit: g/tContained Metal: 3200Contained Unit: kozView all details
Link to this fact

Identity

Project
Tritton
Commodity
silver
Region
australia
Reported Region
Australia
Ticker
AIS

Resource scope

Estimate type
reserve
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Tim Brettell, Tyler Benson, Max McInnis
Resource group id
resource:36f12d2f03a80a0856b9

Resource Data

Category
probable
Tonnes
9400000
Grade
11
Grade Unit
g/t
Contained Metal
3200
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30
Prior Tonnes
2300000
Prior Grade
6
Prior Contained Metal
440

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-16T00:00:00.000Z

Reasoning: Tritton Probable silver reserves saw a substantial increase in tonnage, grade, and contained metal, indicating strong reserve growth.

Positive factors

  • Significant increase in Probable tonnage, grade, and contained silver.

Evidence · table

“11”

Context: 9.4

Tags used in scoring

Probable Reservepositive

Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

Tonnage Growthpositive

Significant tonnage increase (≥15%) vs prior estimate with grade maintained or improved.

Why it applies: 9400000 against 2300000 previously

Grade Improvementpositive

Average resource grade improved vs prior estimate — better deposit economics.

Why it applies: 11 against 6 previously

Contained Metal Growthpositive

True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.

Why it applies: 3200 against 440 previously

probableNorth Qld · copperTonnes: 1600000Grade: 1.9Grade Unit: %Contained Metal: 30Contained Unit: ktHistorical resultNeeds review: historical_restatementView all details
Link to this fact

Identity

Project
North Qld
Commodity
copper
Region
australia_qld
Reported Region
North Queensland
Ticker
AIS

Resource scope

Estimate type
reserve
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Cam Schubert
Resource group id
resource:e54b5e79a819fb5a22ab

Resource Data

Category
probable
Tonnes
1600000
Grade
1.9
Grade Unit
%
Contained Metal
30
Contained Unit
kt

Prior Estimate

Resource Date
2024-12-31

Review

Needs Review
Yes
Review Reason
historical_restatement
Historical
Yes
Historical Source Date
2024-12-31T00:00:00.000Z

Dates

Event date
2026-10-16T00:00:00.000Z

Reasoning: North Queensland Probable copper reserves are historical and no longer owned by the company due to divestment.

Negative factors

  • Project divested, these reserves are no longer part of the company's portfolio.

Evidence · table

“1.9”

Context: 1.6

Tags used in scoring

Probable Reservepositive

Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

probableNorth Qld · goldTonnes: 1600000Grade: 0.2Grade Unit: g/tContained Metal: 9Contained Unit: kozHistorical resultNeeds review: historical_restatementView all details
Link to this fact

Identity

Project
North Qld
Commodity
gold
Region
australia_qld
Reported Region
North Queensland
Ticker
AIS

Resource scope

Estimate type
reserve
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Cam Schubert
Resource group id
resource:e54b5e79a819fb5a22ab

Resource Data

Category
probable
Tonnes
1600000
Grade
0.2
Grade Unit
g/t
Contained Metal
9
Contained Unit
koz

Prior Estimate

Resource Date
2024-12-31

Review

Needs Review
Yes
Review Reason
historical_restatement
Historical
Yes
Historical Source Date
2024-12-31T00:00:00.000Z

Dates

Event date
2026-10-16T00:00:00.000Z

Reasoning: North Queensland Probable gold reserves are historical and no longer owned by the company due to divestment.

Negative factors

  • Project divested, these reserves are no longer part of the company's portfolio.

Evidence · table

“0.2”

Context: 1.6

Tags used in scoring

Probable Reservepositive

Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

probableStockman · copperTonnes: 9800000Grade: 1.8Grade Unit: %Contained Metal: 180Contained Unit: ktView all details
Link to this fact

Identity

Project
Stockman
Commodity
copper
Region
australia_vic
Reported Region
Victoria
Ticker
AIS

Resource scope

Estimate type
reserve
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Tim Brettell
Resource group id
resource:c321f469dc13d4424cb0

Resource Data

Category
probable
Tonnes
9800000
Grade
1.8
Grade Unit
%
Contained Metal
180
Contained Unit
kt

Prior Estimate

Resource Date
2026-06-30
Prior Tonnes
9600000
Prior Grade
1.9
Prior Contained Metal
180

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-16T00:00:00.000Z

Reasoning: Stockman Probable copper reserves saw a slight increase in tonnage but a decrease in grade, resulting in flat contained metal.

Positive factors

  • Slight increase in Probable tonnage.

Negative factors

  • Decrease in grade, contained metal remained flat despite tonnage increase.

Evidence · table

“1.8”

Context: 9.8

Tags used in scoring

Probable Reservepositive

Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

Grade Declinenegative

Average grade dropped >5% vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling.

Why it applies: 1.8 against 1.9 previously

Dilutive Growthnegative

Tonnage increased but contained metal flat or down — likely from lower cut-off grade, not geological expansion.

Why it applies: tonnage rose while contained metal went 180 from 180

probableStockman · zincTonnes: 9800000Grade: 3.5Grade Unit: %Contained Metal: 340Contained Unit: ktView all details
Link to this fact

Identity

Project
Stockman
Commodity
zinc
Region
australia_vic
Reported Region
Victoria
Ticker
AIS

Resource scope

Estimate type
reserve
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Tim Brettell
Resource group id
resource:c321f469dc13d4424cb0

Resource Data

Category
probable
Tonnes
9800000
Grade
3.5
Grade Unit
%
Contained Metal
340
Contained Unit
kt

Prior Estimate

Resource Date
2026-06-30
Prior Tonnes
9600000
Prior Grade
4.3
Prior Contained Metal
410

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-16T00:00:00.000Z

Reasoning: Stockman Probable zinc reserves increased slightly in tonnage but experienced a significant decrease in grade and contained metal.

Positive factors

  • Slight increase in Probable tonnage.

Negative factors

  • Significant decrease in grade and contained zinc.

Evidence · table

“3.5”

Context: 9.8

Tags used in scoring

Probable Reservepositive

Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

Grade Declinenegative

Average grade dropped >5% vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling.

Why it applies: 3.5 against 4.3 previously

Contained Metal Declinenegative

Contained metal decreased vs prior despite tonnage growth — grade dilution exceeds volume gain.

Why it applies: 340 against 410 previously

Dilutive Growthnegative

Tonnage increased but contained metal flat or down — likely from lower cut-off grade, not geological expansion.

Why it applies: tonnage rose while contained metal went 340 from 410

probableStockman · goldTonnes: 9800000Grade: 0.8Grade Unit: g/tContained Metal: 260Contained Unit: kozView all details
Link to this fact

Identity

Project
Stockman
Commodity
gold
Region
australia_vic
Reported Region
Victoria
Ticker
AIS

Resource scope

Estimate type
reserve
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Tim Brettell
Resource group id
resource:c321f469dc13d4424cb0

Resource Data

Category
probable
Tonnes
9800000
Grade
0.8
Grade Unit
g/t
Contained Metal
260
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30
Prior Tonnes
9600000
Prior Grade
1
Prior Contained Metal
320

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-16T00:00:00.000Z

Reasoning: Stockman Probable gold reserves increased slightly in tonnage but experienced a significant decrease in grade and contained metal.

Positive factors

  • Slight increase in Probable tonnage.

Negative factors

  • Significant decrease in grade and contained gold.

Evidence · table

“0.8”

Context: 9.8

Tags used in scoring

Probable Reservepositive

Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

Grade Declinenegative

Average grade dropped >5% vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling.

Why it applies: 0.8 against 1 previously

Contained Metal Declinenegative

Contained metal decreased vs prior despite tonnage growth — grade dilution exceeds volume gain.

Why it applies: 260 against 320 previously

Dilutive Growthnegative

Tonnage increased but contained metal flat or down — likely from lower cut-off grade, not geological expansion.

Why it applies: tonnage rose while contained metal went 260 from 320

probableStockman · silverTonnes: 9800000Grade: 31Grade Unit: g/tContained Metal: 9800Contained Unit: kozView all details
Link to this fact

Identity

Project
Stockman
Commodity
silver
Region
australia_vic
Reported Region
Victoria
Ticker
AIS

Resource scope

Estimate type
reserve
Reporting standards
jorc
QP Signed
Yes
Qualified person names
Tim Brettell
Resource group id
resource:c321f469dc13d4424cb0

Resource Data

Category
probable
Tonnes
9800000
Grade
31
Grade Unit
g/t
Contained Metal
9800
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30
Prior Tonnes
9600000
Prior Grade
36
Prior Contained Metal
11000

Review

Needs Review
No
Historical
No

Dates

Event date
2026-10-16T00:00:00.000Z

Reasoning: Stockman Probable silver reserves increased slightly in tonnage but experienced a decrease in grade and contained metal.

Positive factors

  • Slight increase in Probable tonnage.

Negative factors

  • Decrease in grade and contained silver.

Evidence · table

“31”

Context: 9.8

Tags used in scoring

Probable Reservepositive

Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

Grade Declinenegative

Average grade dropped >5% vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling.

Why it applies: 31 against 36 previously

Contained Metal Declinenegative

Contained metal decreased vs prior despite tonnage growth — grade dilution exceeds volume gain.

Why it applies: 9800 against 11000 previously

Dilutive Growthnegative

Tonnage increased but contained metal flat or down — likely from lower cut-off grade, not geological expansion.

Why it applies: tonnage rose while contained metal went 9800 from 11000

How Atlas produces this analysis

Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.