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Highlights

  • Following drilling and exploration initiatives in 2024, Jericho’s resources jumped by 33% in contained copper and a 39% increase in contained gold.
  • A1M recorded a 263% YoY surge in profit after tax for 1HFY25.
  • The company plans to expand Eloise Copper Mine and progress Jericho Copper Deposit development.

AIC Mines Limited (ASX:A1M), an ASX-listed Australian resources company focused on copper and gold, is strategically advancing its projects through exploration, development, and acquisition.

Jericho Drilling Campaign

Through an ASX-update dated 20 March 2025, the company informed that diamond drilling has commenced at the Jericho Copper Deposit, located within the Eloise Regional Project, Queensland. The drilling program is designed to expand the current resources and upgrade the Inferred Resources to the Indicated category, particularly in the northern part of the Jericho Deposit.

Financial Performance for 1HFY25

In terms of financial performance, AIC Mines has shown significant improvement in the half-year ended 31 December 2024. The company reported a 2% YoY increase in revenue, reaching AUD 93.2 million, compared to AUD 91.0 million in the same period last year. Notably, profit after tax surged by 263% YoY, reaching AUD 8.1 million, up from AUD 2.2 million in 1HFY24. This profit growth was primarily driven by a reduction in the cost of goods sold and deferred consideration from Vulcan (compared to previous year).

Outlook

In FY25, the company expects Eloise Copper Mine to produce 12,500 tonnes of copper and 5,000 ounces of gold, with an all-in sustaining cost (AISC) of AUD 5.25 per pound of copper.

The upcoming development of the Jericho Copper Deposit is another major milestone, with production slated to begin in June 2026. The company targets around 11,700m of drilling at Jericho in CY25.

Additionally, AIC Mines is moving forward with a significant expansion of the Eloise plant, aiming to increase its processing capacity from 725,000 tonnes per annum (tpa) to 1.1 million tonnes per annum.

Share performance of A1M

The stock price has decreased by approximately 8.75% over the past month and has fallen by around 1.35% over the past year. The 52-week low and high for the stock are AUD 0.282 and AUD 0.615, respectively. As of 1 April 2025, A1M close at AUD 0.365 per share.

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 01 April 2025. The reference data in this report has been partly sourced from EODHD/Others.

 

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.