AIC Mines (ASX:A1M) targets portfolio and production expansion in FY25 with Eloise Mine at core

Tue 22 Oct 24, 05:45 AM | Team Kalkine

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Highlights

The Eloise mine recorded its highest production since 2017, producing 49,994 dmt of concentrate with 13,412 tonnes of copper.

Eloise mine produced 3,213 tonnes of copper in 1Q FY25 with an operating cash flow of AUD 14.8 million.

AIC Mines targets 12,500 tonnes of copper and 5,000 ounces of gold in FY25. The Jericho project is expected to increase annual copper production to over 20,000 tonnes.

AIC Mines Limited (ASX:A1M) is an ASX-listed resource company which focuses on creating a diverse portfolio of gold and copper assets through acquisition, development and exploration. The company operates the Eloise copper mine, located in North Queensland, along with multiple exploration projects with potential for gold and copper.

In the financial year 2024 (FY24), Eloise mine recorded its highest annual production since 2017. During the reported period, the production stood at 49,994 dmt of concentrate, containing 13,412 tonnes of copper, with an all-in sustaining cost of AUD 5.15/lb.

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