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AIC Mines Limited (ASX:A1M)

ALERT: Price-sensitive ASX Announcement for A1M
Current share price for A1M : $0.675 -0.005 (-0.74%)+
Announcement
Release
15 May 2026 9:44AM
Price at Release
$0.680
Full Release
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Summary
Rumble Resources Limited and AIC Mines Limited have agreed to sell their joint interests in the Lamil Project to Aventine Resources Limited. The deal involves a total consideration of A$1.1 million, split equally between cash and Aventine shares, with an additional 1% net smelter return royalty shared equally between Rumble and AIC. Aventine, a private company focused on gold-copper exploration in the Paterson Province, intends to conduct an IPO and seek ASX listing by June 2026. The transaction is contingent upon several conditions, including heritage assignments and regulatory approvals.
Key Points
  • Rumble and AIC Mines have sold their interest in the Lamil Joint Venture to Aventine Resources.
  • Total consideration for the sale includes A$500,000 in cash, Aventine shares valued at A$600,000, and a 1% net smelter return royalty.
  • Rumble will specifically receive A$250,000 in cash, Aventine shares worth A$300,000, and a 0.5% net smelter return royalty.
  • The transaction is subject to several conditions including heritage assignment steps and ASX and IPO-related confirmations by Aventine.
  • Rumble Resources and AIC Mines decided to divest the Lamil Project to focus on their other core projects.
  • Aventine Resources is a private exploration company focusing on the Paterson Province in Western Australia.
  • Aventine plans an initial public offering and ASX admission in June 2026.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.