AIC Mines (A1M) Q4 2026 earnings summary

Executive summary

• Achieved FY26 production guidance for the third consecutive year, with Eloise producing 13,064t copper and 6,621oz gold at an AISC of $4.99/lb Cu sold and AIC of $5.32/lb Cu sold year-over-year.

• Eloise and Jericho produced 3,106t copper and 1,706oz gold in concentrate for the June quarter, with Eloise AISC at $6.15/lb and AIC at $6.49/lb, impacted by higher diesel prices and lower copper grades.

• Strong cash flow: Eloise generated $63.3M net mine cash flow after $57.2M capital investment in FY26, supporting Jericho development and Eloise plant expansion.

Financial highlights

• Eloise sold 2,623t copper in the quarter, generating $58.0M in metal sales; Jericho contributed $4.4M in sales from 199t copper.

• FY26 full-year sales: 11,913t copper, $240.6M in metal sales, $120.5M operating cash flow, $63.3M net mine cash flow.

• Ended June with $41.7M cash at bank and a concentrate stockpile containing 663t Cu valued at ~$13.7M.

• Quarterly group cash flow was $10.6M, with significant investments in Jericho and Eloise expansion.

Outlook and guidance

• September 2026 quarter production expected at 3,150–3,350t Cu and 1,500oz Au, mainly from Eloise.

• FY27 production, cost, and capital guidance, plus FY28–FY29 outlook, to be released 20 July 2026.

• Commissioning of the expanded 1.1Mtpa Eloise plant remains on schedule for December 2026.