AIC Mines (ASX: A1M)

Announced its FY27 Production and Cost Guidance, and FY28 and FY29 Production
Targets for the combined Eloise and Jericho copper mines.

This is an exciting period for the Company, as it transitions from a small-scale single mine operation to a 1.5Mtpa dual mine operation producing over 25,000tpa copper in concentrate.

 

 

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	AIC Mines	ASX: A1M
	Stage	Production, development
	Metals	Gold, copper
	Market Cap	A$459 Million   @ A$0.62
	Location	Queensland, Australia
	Website	www.aicmines.com.au/

 

 

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AIC Announce Eloise Three-Year Production Outlook

 

AIC Mines Limited (ASX: A1M) (“AIC Mines” or the “Company”) is pleased to
announce its FY27 Production and Cost Guidance, and FY28 and FY29 Production
Targets for the combined Eloise and Jericho copper mines.

This is an exciting period for the Company, as it transitions from a small-scale single mine operation to a 1.5Mtpa dual mine operation producing over 25,000tpa copper in concentrate.

 

 

CAPITAL STRUCTURE
Shares on Issue: 797,619,821

 

 

HIGHLIGHTS

• FY27 Guidance: The combined Eloise and Jericho projects are expected to
produce 17,500t – 18,500t Cu in concentrate in FY27, weighted to the second
half of the year following commissioning of the 1.1Mtpa plant expansion. The
blended average AISC is expected to fall within a range of A$4.80/lb – A$5.20/lb
(US$3.36 – US$3.64/lb) Cu sold and AIC of A$5.20/lb – A$5.60/lb (US$3.64/lb –
US$3.92/lb) Cu sold, net of by-product credits. Reduced underground
development at Eloise drives strong cashflow, particularly in the first half of FY27.

• FY28 Production Target of 20,000 – 22,000t Cu in concentrate: Commissioning
of the Stage 1 Eloise plant expansion to 1.1Mtpa and ramp-up of underground
production at the Jericho mine is planned for the December 2026 Quarter. This
is expected to increase copper production by approximately 50% to over
20,000tpa in concentrate from FY28 (see cautionary statement below).

• FY29 Production Target of 25,000 – 27,000t Cu in concentrate: The Stage 2 Eloise
plant expansion to 1.5Mtpa is now targeted to be completed in the December
2028 Quarter, approximately 2 years earlier than previously planned. This
expansion, along with accelerated underground development at Jericho, is
expected to increase copper production by a further 25% to over 25,000tpa in
concentrate from FY29 (see cautionary statement below).

• No additional funding is required for the Stage 2 Eloise plant expansion or
accelerated underground development at Jericho. However, the US$40 million
Trafigura Prepayment Facility for the Eloise Expansion Project (currently drawn
to US$30 million) has recently been expanded by US$10 million to a total US$50
million to ensure cost overruns or production delays can be managed, if required.
• Cautionary Statement: The Guidance and Production Targets are based on a
combination of approximately 95% Probable Ore Reserves and 5% Inferred Mineral
Resources. There is a low level of geological confidence associated with Inferred
Mineral Resources and there is no certainty that further exploration work will result
in the determination of Indicated Mineral Resources or that a Production Target
will be realised. Refer to page 5 and Appendix 1 of this announcement for the
material assumptions pertaining to the Production Targets.

All $ figures in this report refer to A$ unless otherwise stated. US$ data is based on an AUD:USD exchange rate of 0.7.

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To read the full news release please click HERE

 

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Disclosure

At the time of writing the author holds shares in AIC Mines.

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