AIC Mines Limited (ASX:A1M)

AIC Mines Limited outlines its production and cost guidance for FY27 and production targets for FY28 and FY29 for the Eloise and Jericho copper mines in Australia. The company plans to expand its operations from a single mine to a dual mine operation with a processing capacity of 1.5 million tonnes per annum (Mtpa), aiming to produce over 25,000 tonnes of copper concentrate annually by FY29. The expansion involves a phased increase in plant capacity, with Stage 1 to 1.1Mtpa by December 2026 and Stage 2 to 1.5Mtpa by December 2028. Production is expected to increase by 50% from FY28, supported by accelerated underground development at Jericho, with a projected output of 17,500-18,500 tonnes of copper in FY27. Financial plans include a US$50 million Trafigura prepayment facility to buffer against cost overruns. The guidance and targets rely on a mix of Ore Reserves (95%) and Inferred Mineral Resources (5%), with a low confidence level in the latter, highlighting potential uncertainties in achieving the production targets.