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Highlights
- A1M’s H1FY25 revenue rose 2% YoY to AUD 93.2 million, up from AUD 91.0 million in H1FY24.
- The company recorded an EBITDA of AUD 30.6 million, up from AUD 24.7 million in H1FY24.
- A1M Mines expects Jericho to deliver first ore by June 2026.
AIC Mines Limited (ASX:A1M) is an Australian resources company focused on development, acquisition and exploration of copper and gold assets. The company operates Eloise copper mine in North Queensland along with multiple exploration projects with copper and gold potential.
The Eloise copper mine of AIC Mines produced 9,661 tonnes of copper in the first nine months of FY25 and is on track to meet full-year guidance of 12,500 tonnes of copper and 5,000 ounces of gold in concentrate at an AISC of AUD 5.25/lb Cu and AIC of AUD 5.50/lb Cu.
High copper recovery (95.4%), operational consistency and infrastructure upgrades are anticipated to improve Eloise’s performance.
Recent Financial Performance
In the first half of the financial year 2025 (H1FY25), the company’s revenue increased by 2% YoY to AUD 93.2 million, up from AUD 91.0 million in H1FY24. Meanwhile, EBITDA surged by 24% YoY to AUD 30.6 million, up from AUD 24.7 million in H1FY24 and profit after tax rose to AUD 8.1 million, primarily driven by a reduced cost of goods sold and deferred consideration received from Vulcan.
Cash and cash equivalents for the period rose by 68% YoY to AUD 44.7 million, up from AUD 26.7 million in H1FY24.
Recent Business Update
For the quarter ending 31 March 2025, Eloise Mine produced 3,004 tonnes of copper at an all-in sustaining cost (AISC) of AUD 5.49 per pound. However, sales and cashflow were negatively impacted by shipment delays caused by heavy March rains. Both Jericho and Eloise ore reserves were upgraded during the period. Jericho saw a 77% rise in copper and a 92% increase in gold reserves, while Eloise reported a 12% uplift in copper and a 20% rise in gold reserves. Exploration efforts led to the identification of new mineralisation zones, with drilling activities initiated to support future mining.
Company Outlook
AIC Mines is progressing development of the Jericho deposit, which is expected to extend the Eloise mine life and enable a planned expansion of processing capacity to 1.1Mtpa, with first ore targeted by June 2026. Exploration and drilling programs continue across Eloise and Jericho to extend resources and identify new deposits, supporting long-term growth.
Share performance of A1M
AIC Mines closed at AUD 0.33 on 10 June 2025, registering a 1.49% intraday decline. The stock showed a positive return of 1.54% over the past week and 8.20% rise over nine months. On a yearly basis, the stock has dropped 31.96%, with a YTD decline of 2.94%. 52-week high of A1M is AUD 0.49, recorded on 11 June 2024 and 52-week low is AUD 0.28, recorded on 9 April 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 10 June 2025. The reference data in this report has been partly sourced from REFINITIV.
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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