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A1M - AIC Mines

I’m with you Peter. Loaded up on this a while back, nearly added more recently but I’ve got a big bundle of moolah across a few copper plays so talked myself out of it.

May the copper price strengthen and the A1 sp climb high!!!!!
 
Management has managed to get costs down a little, and drilling has increased reserves at Jericho. A1M is well positioned to benefit from an increasing copper price. 2025 may be the best year in a long time for this copper mining junior.
 
A1M_FY25_Half_Yearly_Report_and_Accounts.jpg

$8,091,000 net profit for the half year ended 31 December 2024. With the copper price turning bullish A1M is finally coming into its own. $45 million in cash means no more capital raisings.

Management has done well at reducing costs where possible. 2025 should be a good year for the company.
 

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Updated Mineral Resource estimates for its Eloise, Jericho and Eloise Regional projects following exploration and resource definition drilling completed in 2024.

HIGHLIGHTS
• Mineral Resources at Jericho have increased significantly to 19.2Mt grading 2.0% Cu and 0.4g/t Au containing 381,000t Cu and 245,500oz Au representing a 33% increase in contained copper and a 39% increase in contained gold. Jericho remains open along strike and at depth.
• Importantly, the Indicated Resource at Jericho has increased significantly to 9.4Mt grading 1.9% Cu and 0.4g/t Au containing 180,500t Cu and 120,500oz Aurepresenting a 54% increase in copper and a 68% increase in gold – potentially providing a material uplift in Ore Reserves.
• Mineral Resources at Eloise have decreased slightly due mainly to mining depletion to 5.9Mt grading 2.5% Cu and 0.6g/t Au containing 145,800t Cu and 120,800oz Au representing a 6% decrease in contained copper and an 11% decrease in contained gold. Indicated Resources remained relatively stable.
• Mineral Resources at Sandy Creek have increased to 2.6Mt grading 1.1% Cu and 0.3g/t Au containing 28,100t Cu and 22,200oz Au representing a 20% increase in contained copper and a 7% increase in contained gold.
• Combined Mineral Resources at Eloise, Jericho, Sandy Creek and Artemis have increased to 28.4Mt grading 2.0% Cu and 0.4g/t Au containing 563,000t Cu and 409,600oz Au representing a 16% increase in contained copper and a 14% increase in contained gold.

Commenting on the Mineral Resource update, AIC Mines Managing Director Aaron Colleran said:
Exploration and resource definition drilling conducted in 2024 has successfully upgraded the Jericho Mineral Resource in terms of both resource category and size – providing further confidence that Jericho will be a reliable, long-life operation for AIC Mines.”
“The combined Mineral Resource base of 28.4Mt, all within 20 kilometres of the Eloise processing plant, provides further support for the plant expansion and underpins our confidence that Eloise will continue as a regional processing hub well into the next decade.
"
 
From Market Matters this afternoon

AIC Mines (A1M) 42c

A1M +7.01%: Announced commencement of drilling at their Jericho copper deposit, ahead of schedule, 4km from their Eloise project in Queensland. The drilling aims to upgrade inferred resources, with exploration at the site already extending resource estimates by 95%.

With the primary asset ramping up production, A1M is in a comfortable position to capture elevated copper prices whilst continuing to explore and develop its tenements. In addition to Jericho drilling, planned electromagnetic geophysical surveys should provide incremental upside by generating new drill targets, bolstering management’s plan to turn Eloise into a regional processing hub.
 
Interesting reading this evening:


The following legal letter was attached to the email.
 

Attachments

  • 2025-02-11 - Letter from Banton Group to Steinepreis Paganin - 11 February 2025.pdf
    181.5 KB · Views: 7
I don't really know what to make of this guy's claims and agenda.

 
Just hope that the AIC Mines mgt team focus on the job of producing copper at a lower ASIC rather than become distracted by extraneous noise. Getting those costs down will do more for investor demand that anything else.

Share price gains do look to be depressed when compared to the last copper price rally. Back then A1M hit 0.60 while they're struggling to get above 0.425 now. I'm still holding and want at least 1.20 for a buy out.

A1M along with my other CY picks (AIS, BC8) have made it into the All Ords.
 
OK I think that the Pauley emails have created additional uncertainty around A1M that's causing people to sell.



The past two days selling seems a little irrational. I may add to existing positions if price goes lower.
Edit: In longer holding portfolios not a trade bok.
 
April Update for this CY selection.
Price did go lower and I did buy some near the lows.



Two deposits Jericho and Eloise.
Reported a significant increase in ore reserves hopefully allowing expansion and increased production.

Next Qrtly report due 29th April. Damn I'll have to do another update.
 
A1M - May update; another cap raise is indicated.

AIC mines investment presentation. No debt, 30M cash.
Their foundational underground mine, Eloise achieves record production in FY24. Similar guidance for FY25, on target.

Jericho copper deposit to be developed as their next mine with ore processed at Eloise. Eloise processing facility to be upgraded and increased from 725,000tpa to 1.1Mtpa. Expansion estimated to cost $60M.

Debt funding options are being advanced. Yep, know where this is headed. Market does too, price falls.