AIC Mines
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AIC Mines (A1M) investor relations material

AIC Mines Q2 2026 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2026 earnings summary29 Jan, 2026

Executive summary

  • Eloise mine achieved record quarterly ore production of 189,000 tons and produced 3,202t copper and 1,501oz gold in concentrate, meeting production and cost guidance despite significant weather and geological challenges.

  • Strong net mine cash flow of $11.5 million after $14.1 million capital investment, with $44.9 million cash at bank at quarter end.

  • Large ore and concentrate stockpiles built up due to weather-related logistics issues, impacting cash flow timing.

  • Jericho project continues to progress, with deep drilling success and ongoing development despite water ingress slowing access.

  • Progressed Eloise plant expansion to 1.1Mtpa and Jericho mine development, with significant resource growth potential confirmed by drilling.

Financial highlights

  • Eloise produced 3,202 tons of copper in concentrate at an all-in sustaining cost of AUD 4.87/lb ($3.26/lb) and all-in cost of AUD 5.22/lb ($3.50/lb), with metal sales for the quarter totaling $54.9 million.

  • Eloise mine operating cash flow was $25.6 million; net mine cash flow after capital investment was $11.5 million.

  • Group cash flow for the quarter was negative $22.9 million, reflecting heavy investment in expansion and development.

  • Approximately AUD 8 million worth of copper concentrate stockpiled at quarter end, expected to boost March quarter results.

  • Closing cash balance was $44.9 million, down from $67.8 million at the previous quarter end.

Outlook and guidance

  • If current commodity prices persist, Eloise could generate approximately AUD 30 million more cash flow than originally forecast for the next six months.

  • Eloise plant expansion to 1.1Mtpa is on schedule for commissioning in December 2026; stage two expansion to 1.5Mtpa under engineering review.

  • Additional development at Jericho planned to accelerate ramp-up to 1.1 million and then 1.5 million tons per annum mining rates.

  • Updated mineral resource and ore reserve estimate for Jericho expected in April, potentially formalizing higher production targets.

  • March 2026 quarterly production expected to be similar to December 2025, at 3,100–3,300t Cu and 1,500oz Au.

Jericho development acceleration plan details
Impact of stockpiles on Q4 cash flow
Eloise plant upgrade ramp-up risks
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Frequently asked questions

AIC Mines Limited is an Australia-based mining and exploration company focused on the acquisition, development, and operation of gold and copper assets. The company engages in exploration activities to expand its resource base, targeting projects primarily within Australia. AIC Mines operates producing mines as well as exploration sites, aiming to build a sustainable portfolio of mineral assets.

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