AIC Mines (A1M) H2 2025 earnings summary

Executive summary

• Achieved FY25 production guidance for the second consecutive year: 12,863t copper and 5,955oz gold at AISC of A$4.98/lb Cu sold, generating $189.6M revenue and $79.2M operating cashflow.

• Net profit after tax rose to $15.0M (FY24: $7.7M), with EBITDA of $63.2M and strong cash flows from operations of $50.9M.

• Major growth initiatives underway: Jericho Access Drive advanced to 1,549m, Eloise plant expansion EPC contract awarded, and all major approvals secured.

• Completed $55M placement, $10M SPP, and secured US$40M prepayment facility to fund Jericho and Eloise expansion.

Financial highlights

• Revenue increased to $189.6M (FY24: $180.5M), driven by higher copper and gold prices.

• EBITDA of $63.2M (FY24: $51.8M); NPAT of $15.0M (FY24: $7.7M).

• Operating cash flow of $50.9M; net mine cash flow of $27.4M after capital.

• Cost of sales decreased 6.4% to $105.1M; AISC reduced to $4.98/lb (FY24: $5.15/lb).

• Basic EPS: 2.60c (FY24: 1.63c); diluted EPS: 2.46c.

Outlook and guidance

• Jericho development on track for first ore by June 2026; Eloise plant expansion to 1.1Mtpa with commissioning in Dec 2026.

• Combined Eloise/Jericho production forecast to exceed 20,000tpa copper from FY28.

• Strong copper market fundamentals expected to support growth.