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Highlights
- For the quarter ended 31 March 2025, copper production of AIC Mines reached 3,004 tonnes at an all-in sustaining cost of AUD 5.49 per pound.
- The Eloise mine is expected to surpass FY25 production targets of 12,500 tonnes of copper and 5,000 ounces of gold.
- The first ore from the Jericho deposit is anticipated by mid-2026.
AIC Mines Limited (ASX:A1M) is an Australian resources company dedicated to building a diverse portfolio of copper and gold assets through exploration, development, and acquisition. The company operates the Eloise copper mine in North Queensland.
A1M’s gross margin increased to 42.0% in the first half of the financial year 2025 (1HFY25), compared to 35.3% in the same period of FY24. Meanwhile, the current ratio improved to 2.75x in 1HFY25, while the investment rate decreased to 3.6% during the same period.
A1M recorded an asset turnover ratio of 0.33x in the first half of FY25, compared to 0.46x in 1HFY24..
During the reported period, A1M recorded 150% YoY increase in statutory PBT, reaching AUD 9.5 million and a 2% YoY surge in revenue to AUD 93.2 million. The period saw an AUD 5.9 million increase in profit after tax, primarily driven by a decrease in the cost of goods sold and the recognition of deferred consideration from Vulcan.
Performance in Recent Quarter
For the quarter ended 31 March 2025, AISC Mines achieved copper production of 3,004t at AISC of AUD 5.49/lb copper. Despite operational challenges including road closures and weather-related delays affecting concentrate drying and shipment, sales generated operating cash flow of AUD 12.6mn. The company’s growth was supported by an active drilling campaign that significantly increased ore reserves at both the Jericho and Eloise deposits.
Outlook
As per the company, Eloise copper mine is on track to exceed its FY25 production targets of 12,500 tonnes of copper and 5,000oz of gold, driven by operational efficiency and the planned expansion of processing capacity. The first ore from the Jericho deposit is expected by mid-2026, with ongoing development efforts aimed at accelerating production.
The Eloise processing plant is being expanded to increase throughput capacity from 725,000 tonnes per annum to 1.1 million tonnes per annum.
Top 10 Shareholders of A1M
The top 10 shareholders of A1M hold approximately 34.67% of the company's total shares. Among them, FMR Investments Pty Ltd is the largest shareholder with around 14.30%, followed by El-Raghy (Josef) holding about 6.95%.
Stock Performance
Over the past month, the stock price has increased by approximately 15.83%, while it has declined by around 26.84% over the past year. The stock’s 52-week low is AUD 0.280 and 52-week high is AUD 0.615. A1M’s shares closed 1.41% lower at AUD 0.35 per share on 13 May 2025.
Support and Resistance Summary
Note 1: Past performance is neither an Indicator nor a guarantee of future performance.
Note 2: The reference date for all price data, and currency, is 13 May 2025. The reference data in this report has been partly sourced from EODHD/Others.
Technical Indicators Defined:
Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.
Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.
Disclaimer
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