Highlights:

  • A1M’s FY26 copper production guidance set at 12,800–13,200 tonnes.
  • First-half FY26 output totals 6,526 tonnes of copper and 3,223 ounces of gold.
  • AISC for H1 FY26 reported at AUD 4.92 per pound of copper.

AIC Mines Limited (ASX:A1M), an Australian copper and gold producer, has outlined its FY26 production targets while progressing development at the Jericho project. The company operates the Eloise copper mine in North Queensland and continues to expand its asset base through exploration and development initiatives.

FY26 Production and Cost Guidance

AIC Mines plans to produce between 12,800 and 13,200 tonnes of copper and 6,000 to 6,500 ounces of gold in concentrate during FY26. The company expects all-in sustaining costs (AISC) in the range of AUD 4.85–5.25 per pound of copper and all-in costs (AIC) between AUD 5.10–5.50 per pound.

In the first half of FY26, output reached 6,526 tonnes of copper and 3,223 ounces of gold in concentrate. Reported AISC stood at AUD 4.92 per pound of copper, while AIC was AUD 5.26 per pound. For the March 2026 quarter, production is projected at 3,100–3,300 tonnes of copper and approximately 1,500 ounces of gold, broadly in line with the December 2025 quarter.

Jericho Project Drives Expansion

The Jericho deposit remains central to AIC Mines’ expansion strategy. The project underpins the planned increase in processing capacity at the Eloise plant to 1.1 million tonnes per annum (Mtpa).

A fixed-cost EPC contract has been awarded to GR Engineering, with construction already underway. Commissioning of the expanded facility is targeted for December 2026. The company has also identified the potential for further expansion to 1.5Mtpa in the future.

Jericho contains a resource of 19.2 million tonnes at 2.0% copper, accessed via the Jericho Access Drive from the Eloise Copper Mine.

FY25 Financial Performance Snapshot

For the full year ended 30 June 2025 (FY25), revenue increased to AUD 189.55 million, compared with AUD 180.52 million in FY24, representing a 5% rise year-on-year. Net profit rose to AUD 14.96 million from AUD 7.69 million, a 94% increase.

Cash and cash equivalents stood at AUD 60.93 million at year-end, compared with AUD 74.34 million in FY24. Revenue growth was supported by higher realised copper prices, averaging AUD 14,128 per tonne versus AUD 13,329 per tonne in the prior year.

Share Performance of A1M

A1M shares slipped 0.86% to close at AUD 0.575 per share on 17 February 2026. Over the past year, the A1M’s share price has advanced 43.75%. It has declined 1.71% over the past month and is down 4.96% over the past week, while year-to-date it has fallen 2.54%. Despite recent weakness, the stock has climbed 26.37% over the past three months, gained 85.48% over six months, and is up 76.92% over nine months.

The 52-week high for A1M stands at AUD 0.675, recorded on 30 January 2026, while the 52-week low is AUD 0.280, reached 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 17 February 2026. 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.