AIC Mines (A1M) H1 2026 earnings summary

Executive summary

• Revenue for the half year ended 31 December 2025 was $110.6 million, up 19% year-over-year, with EBITDA of $48.6 million, up 59% from the prior period, and net profit after tax (NPAT) of $17.4 million, up 114% year-over-year.

• Eloise mine produced 6,526 tonnes of copper at an AISC of $4.92/lb, meeting production and cost guidance, despite weather-related disruptions late in the period.

• Strong cash generation with net cash flow from operating activities of $51.2 million, up 193% year-over-year.

• Jericho development and Eloise plant expansion projects are progressing on schedule, with significant milestones achieved.

Financial highlights

• Sales revenue increased to $110.6 million from $93.2 million year-over-year.

• EBITDA rose to $48.6 million from $30.6 million, and NPAT doubled to $17.4 million from $8.1 million.

• Basic earnings per share increased to 2.23 cents from 1.41 cents year-over-year.

• Net tangible assets per share rose to 50.82 cents from 39.37 cents since June 2025.

• No dividends were declared or paid during the period.

Outlook and guidance

• Eloise mine achieved production guidance for ten consecutive quarters, with cost and production targets met.

• Jericho mine development and Eloise plant expansion remain on track, with commissioning of the expanded plant planned for October 2026.

• Exploration focus continues on resource growth at Jericho and regional targets.