Aic Mines Limited
A1M.ASXMaterials
Mining and exploration
Market Data
$0.660
+0.1%$526.4M
19.2x
$0.033
0.00%
+0.2%
Latest Earnings
June Quarterly Report
16 July 2026
AIC Mines achieved third consecutive year of guidance in FY26, producing 13,064t of copper and 6,621oz of gold at AISC of $4.99/lb and AIC of $5.32/lb, generating strong net mine cash flow of $63.3M. June quarter results were impacted by elevated diesel costs and weather-related concentrate drying challenges, with AISC of $6.15/lb and AIC of $6.49/lb, while Jericho development progressed on schedule with successful metallurgical trials and high-grade drilling results supporting imminent production ramp-up. Key points: Third consecutive year of meeting or exceeding production guidance – FY26 produced 13,064t copper within guidance range of 12,800–13,100t at midpoint AISC/AIC; Strong full year cash generation: net mine cash flow of A$63.3M after A$57.2M capital investment, surpassing FY25 record and funding Jericho development and Eloise expansion; Jericho project on schedule: metallurgical trials successful with blended ore producing on-spec concentrate (25% Cu grade, 92.3% recovery) and single-feed ore trials confirming assumptions; access drive progressing toward Matilda with ventilation shaft JS3 completing in September 2026 Quarter
Recent Announcements
Becoming a substantial holder for CPM
CPM became a substantial holder (13.04%).
Eloise Guidance and Production Outlook
AIC Mines Limited (ASX: A1M) has announced its three-year production guidance for the combined Eloise and Jericho copper mines, targeting 17,500-18,500 tonnes of copper in concentrate for FY27, scaling to 25,000-27,000 tonnes by FY29, with all-in sustaining costs of A$4.80-A$5.20/lb. The company has expanded its Trafigura prepayment facility by US$10 million to US$50 million to support accelerated Stage 2 plant expansion to 1.5Mtpa, now targeted for completion in December 2028 instead of FY31.
June Quarterly Report
AIC Mines achieved third consecutive year of guidance in FY26, producing 13,064t of copper and 6,621oz of gold at AISC of $4.99/lb and AIC of $5.32/lb, generating strong net mine cash flow of $63.3M. June quarter results were impacted by elevated diesel costs and weather-related concentrate drying challenges, with AISC of $6.15/lb and AIC of $6.49/lb, while Jericho development progressed on schedule with successful metallurgical trials and high-grade drilling results supporting imminent production ramp-up. Key points: Third consecutive year of meeting or exceeding production guidance – FY26 produced 13,064t copper within guidance range of 12,800–13,100t at midpoint AISC/AIC; Strong full year cash generation: net mine cash flow of A$63.3M after A$57.2M capital investment, surpassing FY25 record and funding Jericho development and Eloise expansion; Jericho project on schedule: metallurgical trials successful with blended ore producing on-spec concentrate (25% Cu grade, 92.3% recovery) and single-feed ore trials confirming assumptions; access drive progressing toward Matilda with ventilation shaft JS3 completing in September 2026 Quarter
FY27 Guidance Conference Call Notification
AIC Mines Limited (ASX: A1M) will release FY27 Guidance and FY28-29 Production Outlook pre-opening on 20 July 2026, with Managing Director Aaron Colleran hosting a conference call at 11:00am AEST on the same day to discuss the details.
Becoming a substantial holder
Malcolm Mccusker became a substantial holder (5.42%).
March Quarterly Report
AIC Mines delivered a strong Q4 FY26 quarter with the Eloise copper mine producing 3,432t of copper and 1,692oz of gold in concentrate at industry-leading costs (AISC $4.18/lb), achieving guidance for the 11th consecutive quarter, while generating robust net mine cash flow of $27.7M. Combined Eloise Project Mineral Resources increased 10% to 31.2Mt with contained copper up 12% to 631,800t, and the Jericho development achieved a major milestone crossing the J1 lens ahead of schedule, with the processing plant expansion remaining on track for December 2026 commissioning. However, significant headwinds from sharply elevated diesel costs (up ~50% in April) pose a material risk to FY27 cost guidance. Key points: Achieved production guidance for 11th consecutive quarter with robust output of 3,432t Cu and 1,692oz Au at AISC of $4.18/lb, well below midpoint guidance; Strong operating cash generation of $42.2M in the quarter; net mine cash flow of $27.7M after $14.5M capital investment despite weather disruptions; Combined Eloise Project Mineral Resources increased 10% to 31.2Mt with contained copper up 12% to 631,800t and gold up 9% to 445,800oz, largest resource base in 30-year history
Appendix 4D and FY26 HY Financial Report
AIC Mines reported strong HY FY26 results with revenue growing 19% to $110.6M and EBITDA surging 59% to $48.6M, driven by higher copper and gold prices. Net profit after tax more than doubled to $17.4M despite slight production decline due to extreme weather impacts on deliveries. The Jericho development and 1.1Mtpa plant expansion remain on track for October 2026 commissioning. Key points: Strong financial performance with 19% revenue growth to $110.6M and 59% EBITDA increase to $48.6M; Reliable copper production of 6,526 tonnes at improved All-in-Sustaining Cost of A$4.92/lb (vs A$5.02/lb prior period); Excellent cash generation with operating cash flow up 193% to $51.2M
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