Board Change • May 20
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. 1 independent director (4 non-independent directors). Independent Non-Executive Director Brett Montgomery was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • May 01
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. 1 independent director (4 non-independent directors). Independent Non-Executive Director Brett Montgomery was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Anuncio • Apr 13
AIC Mines Limited to Report Q3, 2026 Results on Apr 16, 2026 AIC Mines Limited announced that they will report Q3, 2026 results Pre-Market on Apr 16, 2026 Anuncio • Jan 22
AIC Mines Limited to Report Q2, 2026 Results on Jan 29, 2026 AIC Mines Limited announced that they will report Q2, 2026 results Pre-Market on Jan 29, 2026 Board Change • Dec 24
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 4 non-independent directors. Independent Non-Executive Director Brett Montgomery was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Anuncio • Oct 13
AIC Mines Limited to Report Q1, 2026 Final Results on Oct 16, 2025 AIC Mines Limited announced that they will report Q1, 2026 final results Pre-Market on Oct 16, 2025 Anuncio • Sep 15
AIC Mines Limited, Annual General Meeting, Nov 19, 2025 AIC Mines Limited, Annual General Meeting, Nov 19, 2025. Reported Earnings • Aug 22
Full year 2025 earnings released: EPS: AU$0.026 (vs AU$0.016 in FY 2024) Full year 2025 results: EPS: AU$0.026 (up from AU$0.016 in FY 2024). Revenue: AU$189.6m (up 5.0% from FY 2024). Net income: AU$15.0m (up 94% from FY 2024). Profit margin: 7.9% (up from 4.3% in FY 2024). The increase in margin was driven by higher revenue. Production and reserves: Copper Production: 12,383 t (12,912 t in FY 2024) Number of mines: 1 (1 in FY 2024) Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Metals and Mining industry in Australia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 55 percentage points per year, which is a significant difference in performance. Board Change • Aug 18
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 4 non-independent directors. Independent Non-Executive Director Brett Montgomery was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Anuncio • Jul 17
AIC Mines Limited to Report Q4, 2025 Results on Jul 21, 2025 AIC Mines Limited announced that they will report Q4, 2025 results Pre-Market on Jul 21, 2025 Anuncio • Jun 24
AIC Mines Limited has completed a Follow-on Equity Offering in the amount of AUD 55 million. AIC Mines Limited has completed a Follow-on Equity Offering in the amount of AUD 55 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 142,800,000
Price\Range: AUD 0.3
Discount Per Security: AUD 0.015
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 40,533,334
Price\Range: AUD 0.3
Discount Per Security: AUD 0.015
Transaction Features: Subsequent Direct Listing Anuncio • Apr 24
AIC Mines Limited to Report Q3, 2025 Results on Apr 29, 2025 AIC Mines Limited announced that they will report Q3, 2025 results Pre-Market on Apr 29, 2025 Anuncio • Apr 10
AIC Mines Limited Announces CFO Changes AIC Mines announced the appointment of John Callagher as its new CFO, effective 12 May 2025 following the resignation of Michael Frame. Mr. Frame will stay with the Company until 1 July 2025. Mr. Frame joined AIC Mines as CFO in December 2021, a pivotal period for the Company following the acquisition of the Eloise copper mine. His involvement with the integration and improvement in commercial and financial procedures at Eloise was paramount to the success of the acquisition and the operation's ongoing growth. Mr. Frame leaves AIC Mines with robust financial reporting and budgeting procedures and a strong finance team. Mr. Callagher was previously CFO at Aurora Healthcare and General Manager Finance at Whitehaven Coal prior to that. He brings over 25 years of financial and commercial experience spanning statutory reporting and audit, tax, mergers and acquisitions, and business governance. Board Change • Feb 04
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 4 non-independent directors. Independent Non-Executive Director Brett Montgomery was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Dec 24
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 4 non-independent directors. Independent Non-Executive Director Brett Montgomery was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Anuncio • Oct 15
AIC Mines Limited to Report Q1, 2025 Results on Oct 17, 2024 AIC Mines Limited announced that they will report Q1, 2025 results Pre-Market on Oct 17, 2024 Anuncio • Sep 25
AIC Mines Limited, Annual General Meeting, Nov 20, 2024 AIC Mines Limited, Annual General Meeting, Nov 20, 2024. Reported Earnings • Aug 22
Full year 2024 earnings released: EPS: AU$0.016 (vs AU$0.015 loss in FY 2023) Full year 2024 results: EPS: AU$0.016 (up from AU$0.015 loss in FY 2023). Revenue: AU$180.5m (up 44% from FY 2023). Net income: AU$7.69m (up AU$13.5m from FY 2023). Profit margin: 4.3% (up from net loss in FY 2023). The move to profitability was driven by higher revenue. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 1.8% growth forecast for the Metals and Mining industry in Australia. Over the last 3 years on average, earnings per share has increased by 16% per year whereas the company’s share price has increased by 12% per year. New Risk • Jun 01
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 24% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (25% accrual ratio). Minor Risks Profit margins are more than 30% lower than last year (1.0% net profit margin). Shareholders have been diluted in the past year (24% increase in shares outstanding). Anuncio • May 26
AIC Mines Limited has completed a Follow-on Equity Offering in the amount of AUD 57.2 million. AIC Mines Limited has completed a Follow-on Equity Offering in the amount of AUD 57.2 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 110,000,000
Price\Range: AUD 0.52
Transaction Features: Subsequent Direct Listing Buy Or Sell Opportunity • May 25
Now 27% undervalued Over the last 90 days, the stock has risen 91% to AU$0.54. The fair value is estimated to be AU$0.73, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 85% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 29% in 2 years. Earnings are forecast to grow by 2,388% in the next 2 years. Anuncio • May 24
AIC Mines Limited has filed a Follow-on Equity Offering in the amount of AUD 57.2 million. AIC Mines Limited has filed a Follow-on Equity Offering in the amount of AUD 57.2 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 110,000,000
Price\Range: AUD 0.52
Transaction Features: Subsequent Direct Listing Recent Insider Transactions • Mar 02
Independent Non-Executive Director recently sold AU$210k worth of stock On the 29th of February, Brett Montgomery sold around 700k shares on-market at roughly AU$0.30 per share. This transaction amounted to 97% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of AU$166k more than they bought in the last 12 months. Reported Earnings • Feb 26
First half 2024 earnings released: EPS: AU$0.005 (vs AU$0.001 loss in 1H 2023) First half 2024 results: EPS: AU$0.005 (up from AU$0.001 loss in 1H 2023). Revenue: AU$91.0m (up 34% from 1H 2023). Net income: AU$2.23m (up AU$2.84m from 1H 2023). Profit margin: 2.4% (up from net loss in 1H 2023). The move to profitability was driven by higher revenue. Revenue is forecast to grow 13% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Australia are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Recent Insider Transactions • Feb 14
Non-Executive Director recently bought AU$58k worth of stock On the 12th of February, Jonathan Young bought around 200k shares on-market at roughly AU$0.29 per share. This transaction amounted to 32% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$44k more in shares than they have sold in the last 12 months. Anuncio • Dec 02
AIC Mines Limited Announces Outstanding Drilling Results from the Jumbuck, Squatter and Billabong Shoots At the Jericho Copper Project AIC Mines Limited announced outstanding drilling results from the Jumbuck, Squatter and Billabong shoots at the Jericho Copper Project. The Jericho copper deposit is located 4 kilometres south of the Eloise Copper Mine and processing plant. Jericho mine development studies and Eloise processing plant expansion studies are currently underway. Development is expected to commence in 2024 subject to permitting. The Jericho deposit currently has a strike length of 2.3 kilometres. It commences at approximately 50m below surface and extends to a vertical depth of 550m below surface. It occurs in two parallel lenses - J1 and J2 with higher grade shoots within these lenses, namely Jumbuck, Matilda, Billabong and now Squatter. Mineralisation remains open along strike and at depth. Resource Extension and Definition Drilling: A diamond and reverse circulation ("RC") drilling program targeting extensions to the Jericho resource and infill of high-priority areas of the Jericho resource was completed in September 2023. A total of 38 diamond holes for 9,334m and 42 reverse circulation (RC) holes for 7,357m were completed. All of the assay results have now been received. The aim of the drilling was to: Convert higher-grade areas of the Inferred Resource above the -100mRL to Indicated Resource category via a drill spacing of 50m by 50m; Investigate strike extensions, both north and south, along the J1 and J2 Lenses; Test the down-plunge continuation of the high-grade Jumbuck shoot; and Test the Jericho North target. All of these aims have been achieved. The results will be used to update the Jericho Mineral Resource and Ore Reserves estimates and also further optimise the current mine plan. Jumbuck: Resource extension drilling has successfully traced the high-grade Jumbuck shoot a further 200m down-plunge. Significant intercepts include: JEDD024 - 5.5m (3.8m ETW) grading 1.45% Cu, 0.19g/t Au and 2.07g/t Ag from 506.55m; and JEDD034 - 7.4m (4.8m ETW) grading 3.30% Cu, 0.44g/t Au and 4.45g/t Ag from 487.85m The Jumbuck shoot is now defined to a vertical depth of 500m below surface and remains open at depth. In addition, resource definition drilling at Jumbuck has successfully extended the zone of high-grade mineralisation below the current Ore Reserve limits. Significant intercepts include: JEDD030 - 6.5m (4.5m ETW) grading 2.65% Cu, 0.67g/t Au and 4.07g/t Ag from 246.0m; JEDD031 - 5.6m (3.1m ETW) grading 2.50% Cu, 0.32g/t Au and 2.34g/t Ag from 254.65m; JERC041 - 6.0m (3.8m ETW) grading 2.70% Cu, 0.96g/t Au and 2.68g/t Ag from 75m; and JERC042 - 5.0m (2.7m ETW) grading 3.10% Cu, 2.91g/t Au and 4.80g/t Ag from 102m. Squatter: Drilling between the Jumbuck and Matilda shoots has returned high-grade results. In particular, the area south of Matilda and above the 0mRL has returned several high-grade intercepts, within a larger mineralised envelope, defining what is now termed the Squatter shoot. Significant intercepts include: JERC032 - 3.0m (2.2m ETW) grading 2.50% Cu, 0.51g/t Au and 2.33g/t Ag from 132m; and JERC033 - 3.0m (2.0m ETW) grading 3.50% Cu, 0.30g/t Au and 3.17g/t Ag from 168m. Billabong: Resource definition drilling of the Billabong shoot has extended the higher-grade zone above the 0mRL and also intersected thicker zones of mineralisation. Significant intercepts include: JERC034 - 18.0m (10.5m ETW) grading 1.40% Cu, 0.11g/t Au and 1.76g/t Ag from 133m; including 3.0m (2.4m ETW) grading 2.30% Cu, 0.13g/t Au and 3.0g/t Ag from 148m; JERC035 - 2.0m (1.4m ETW) grading 2.40% Cu, 0.33g/t Au and 2.95g/t Au from 204m; JERC037 - 10.0m (6.9m ETW) grading 1.30% Cu, 0.28g/t Au and 1.41g/t Ag from 160m; and including 2.0m (1.3m ETW) grading 2.90% Cu, 0.38g/t Au and 3.20g/t Ag from 165m. Anuncio • Nov 29
AIC Mines Limited Reports Updated Mineral Resource and Ore Reserve (‘Mror’) Estimates for the Lens 6 Deposit At Its Eloise Copper Mine AIC Mines Limited reported updated Mineral Resource and Ore Reserve (‘MROR’) estimates for the Lens 6 deposit at its Eloise Copper Mine. Lens 6 Mineral Resources: Since reporting the initial Lens 6 MROR estimate as at 31 December 2022, AIC Mines has completed another 39 drillholes for 7,818 metres. The drilling has extended the high-grade mineralisation by 200m above the 31 December 2022 Mineral Resource limits and has delivered a significant increase in the Mineral Resource. The Lens 6 Mineral Resources have increased to 34,200 tonnes of contained copper and 27,100 ounces of contained gold, representing a 74% increase in copper and a 56% increase in gold compared to the 31 December 2022 estimate. Lens 6 Ore Reserves: Similar to the outcome with Mineral Resources, infill drilling at Lens 6 has delivered a significant increase in the Ore Reserve estimate in terms of ore tonnes and contained copper, gold and silver. The Ore Reserves for Lens 6 have increased to 22,300 tonnes of contained copper and 18,100 ounces of contained gold, representing a 119% increase in copper and a 101% increase in gold compared to the 31 December 2022 estimate. Ongoing Exploration and Resource Definition Drilling: The Lens 6 Mineral Resource remains open up and down dip. There is no drilling between the top of the Lens 6 resource (z200 Level) and the Levuka Upper zone (100mRL), a gap of 300m vertical metres. AIC Mines has planned a step-out drill program, on 100m spacings, to test the up-dip continuation of the Lens 6 mineralisation as well as DHEM (Down Hole Electromagnetic) surveys. This campaign is scheduled to be drilled from drill platforms on the 0m Level and z100 Level during the second half of Fiscal Year 24. Ongoing evaluation of the Eloise drillhole database continues to identify opportunities for Mineral Resource and Ore Reserve growth. AIC Mines currently has two drill rigs underground at Eloise. One rig is dedicated to exploration drilling to the east and west of the mine workings. The other rig is focused on Mineral Resource and Ore Reserve definition drilling. Lens 6 demonstrates the potential for additional mineralisation in the east and west corridors. The in-mine EM loop, currently under construction at Eloise, will be a rapid, cost-effective way of testing large undrilled areas deeper in the mine for parallel lenses and structural offsets of known lenses. Underground Development and Mine Planning: Underground development into Lens 6 commenced in September 2023 from the z275 and z305 Levels and first development ore was mined in October 2023. A total of 157m of access and ore development has since been completed. Being immediately adjacent to active mine workings, no new capital infrastructure is required for Lens 6 development and production. The Lens 6 mining method will be a bottom-up modified Avoca method upwards from the z305 and longitudinal sublevel caving method downward from z305 post completion of the upward sequence. The selected stoping methods provide operational flexibility given the deposit is open both up and down dip. Stoping in Lens 6 is due to commence in the June 2024 Quarter. Anuncio • Sep 27
AIC Mines Limited, Annual General Meeting, Nov 22, 2023 AIC Mines Limited, Annual General Meeting, Nov 22, 2023. Recent Insider Transactions • Aug 29
Independent Non-Executive Director recently bought AU$156k worth of stock On the 24th of August, Brett Montgomery bought around 443k shares on-market at roughly AU$0.35 per share. This transaction increased Brett's direct individual holding by 2x at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$205k more in shares than they have sold in the last 12 months. Reported Earnings • Aug 24
Full year 2023 earnings released: AU$0.015 loss per share (vs AU$0.14 profit in FY 2022) Full year 2023 results: AU$0.015 loss per share (down from AU$0.14 profit in FY 2022). Revenue: AU$125.6m (down 21% from FY 2022). Net loss: AU$5.82m (down 114% from profit in FY 2022). Revenue is forecast to grow 20% p.a. on average during the next 2 years, compared to a 2.3% growth forecast for the Metals and Mining industry in Australia. Over the last 3 years on average, earnings per share has increased by 94% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. New Risk • Aug 16
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: AU$152.6m (US$98.5m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 13% per year for the foreseeable future. High level of non-cash earnings (183% accrual ratio). Minor Risks Shareholders have been diluted in the past year (48% increase in shares outstanding). Market cap is less than US$100m (AU$152.6m market cap, or US$98.5m). Anuncio • Feb 06
AIC Mines Limited Announces Results of Its Re-Estimate of the Jericho Mineral Resource AIC Mines Limited announce the results of its re-estimate of the Jericho Mineral Resource following completion of the takeover of Demetallica Limited (‘Demetallica’). The AIC Mines estimate uses a higher cut-off grade than that used by Demetallica (1.0% Cu compared to 0.85% Cu) and is constrained within optimised stope shapes to better reflect the proposed mining method. The new estimate is more robust and better suited to mine planning. The outcome is in-line with expectations based on work previously conducted by AIC Mines as part of its acquisition due diligence. Jericho Mineral Resources are estimated at 9.8 million tonnes grading 1.8% copper and 0.4g/t gold containing 180,000 tonnes of copper and 110,600 ounces of gold. The Mineral Resource remains open both along strike and depth. The Mineral Resource is constrained by drilling to a vertical depth of 550m below surface. This compares to the Eloise deposit which is known to extend to 1,800m below surface. Jericho plus Eloise combined Mineral Resources now total 14.6 million tonnes grading 2.0% copper and 0.6g/t gold containing 295,000 tonnes of copper and 210,700 ounces of gold. Having received full access to the Jericho drillhole database following completion of the takeover of Demetallica, AIC Mines has completed a new Mineral Resource estimate using similar estimation practices and assumptions to those used at its Eloise mine. The Jericho deposit is located approximately 4km south of the Eloise mine and exhibits similar geological, mining and metallurgical characteristics to the Eloise mine. The Mineral Resource estimate is based on a long-term copper price of AUD 10,500/t and is reported and classified in accordance with the JORC Code (2012). The Jericho Mineral Resource has a strike length of over 2.3 kilometres, commencing at 50m below the surface level (BSL) and extends to a vertical depth of 550m BSL. High grade mineralisation (>2% Cu) has a shallow 30O north plunge and is open at depth. There is opportunity to extend the high-grade mineralisation along strike and at depth with additional drilling. Compared to the previous Mineral Resource Estimate conducted by Demetallica, the AIC Mines Mineral Resource Estimate contains less tonnes at a higher grade for an overall slight decrease in contained copper, gold and silver. The differences between the two estimates are due to: · An economic cut-off grade of 1% Cu was used for the new estimate. The previous estimate used an economic cut-off grade of 0.85% Cu. · Reassessment of the geological interpretation using the same structural framework observed and mined at the Eloise underground mine, resulted in mineralised lenses being more tightly constrained. · Datamine MSO stope optimiser software was used to identify resource blocks that met the criteria of reasonable prospect for eventual economic extraction (RPEEE). This was not undertaken previously. · Evaluation of minimum mining width. This was not undertaken previously. Development of the Jericho deposit will be transformational for Eloise. It offers the potential to: · increase mine life to over 10 years · increase annual production to over 20,000t Cu and 10,000oz Au in concentrate (a 60% increase on current production rate) · reduce reliance on the Eloise Deeps thereby de-risking ore production · reduce AISC through economies of scale Environmental permitting work has commenced. This work is being led by specialist consultants Epic Environmental in partnership with Engeny. Mining studies to commence this week following the engagement of Orelogy Ltd. A processing plant expansion optimisation study is due to commence shortly following the engagement of GR Engineering Services. The aim of the optimisation study is to decide the optimum processing plant expansion (from current 750ktpa capacity) expected to be in the range of 1.0 - 1.4Mtpa. Current expectations are that development of the Jericho mine could commence early in CY24 with first ore accessed early in CY25. AIC Mines is however closely monitoring the current operating environment and cost inflation pressures to decide the best timing and strategy for developing the Jericho mine and expanding the Eloise processing plant. A program of resource definition (infill) and extension drilling is being planned for Jericho. Resource definition drilling to upgrade Inferred Resources to Indicated Resources will provide a larger base for ultimate conversion to Probable Reserves. Extension drilling is expected to extend the known high-grade lenses at depth and drilling along strike has the potential to locate additional high-grade lenses. The Jericho resource is currently constrained by drilling to a vertical depth of 550m below surface. This compares to the Eloise deposit which is known to extend to 1,800m below surface. There is approximately 7.8Mt of Mineral Inventory at Jericho (above a 1% Cu cut-off and within optimised stope shapes) that is insufficiently drilled to qualify as Inferred Resource. This inventory provides an excellent opportunity to extend the Jericho Mineral Resource with infill drilling. Anuncio • Jan 31
AIC Mines Limited Announces Management Changes AIC Mines Limited announced the appointment of Ms. Linda Hale as a Non-Executive Director of the company effective 1 February 2023. Ms. Hale has more than 30 years' experience in the financial services and mining sectors. Previous roles have included Executive Director of Finance and Administration, Company Secretary and consulting in organisational change and project management. Ms. Hale holds a Bachelor of Business Degree, is a Member of CPA Australia and a Member of The Australian Institute of Company Directors. Ms. Hale has resigned as AIC Mines' Company Secretary, effective January 31, 2023, having served in that role since February 2020. The company also announced that Mr. Tony Wolfe has advised that he will retire as a Director of the Company effective from today. Mr. Wolfe has been a Non- Executive Director since November 2016 (initially Intrepid Mines Limited). Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 4 non-independent directors. Independent Non-Executive Director Brett Montgomery was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Apr 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Non-Executive Director Jon Young was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Nov 06
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. Non-Executive Chairman Josef El-Raghy was the last director to join the board, commencing their role in 2019. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Anuncio • Oct 01
AIC Mines Limited Announces Drilling Commencement At Marymia Project AIC Mines Limited announced that reverse circulation drilling has commenced at its Marymia Project located 160 kilometres south of Newman in the Gascoyne region of Western Australia. Overview: The RC drilling will comprise up to 5,000 metres focussed primarily on the Middle Island Prospect for orogenic gold and the Copper Hill Prospect for copper-gold mineralization; The Middle Island prospect lies within the Plutonic-Marymia Greenstone Belt, 10 kilometres SW of the historic Marymia mining area and captures a 6.6km2 portion of the same mineralised trend that hosts Vango Mining's recently drilled Skyhawk open-pit target; At Copper Hill, wide-spaced drilling will explore for depth extensions to the approximately 7-kilometre surficial copper oxide mineralisation trend located within the larger Copper Hills Belt. This has been interpreted as a preserved portion of Paleoproterozoic basin rocks, equivalent to the Bryah or Padbury basins and thus having the potential to host volcanogenic massive sulphide (VMS) mineralisation such as the nearby DeGrussa and Horseshoe Lights copper-gold deposits; In addition, a small RC drilling program will be completed at the DeGrussa North Prospect, located within the Curara Well Joint Venture, which is defined by a surficial gold anomaly associated with a regionally extensive NE trending interpreted thrust fault; Final assay results from a 786 metre RC drilling program completed on the Curara Well Joint Venture in the June 2021 Quarter have now been received. No elevated copper, gold or pathfinder elements were returned. Anuncio • Sep 08
AIC Mines Limited Commences at Its Lamil Gold-Copper Project Located 30 Kilometres West of the Telfer Gold-Copper Mine AIC Mines Limited announced that reverse circulation drilling has commenced at its Lamil Gold-Copper Project located 30 kilometres west of the Telfer Gold-Copper Mine in the highly prospective Paterson Province of Western Australia. Overview: The 10,000m drilling program will focus on four high priority target areas including infill and extension of the Lamil Main and NE dome areas and three newly defined targets that have never been drilled. Primary copper sulphide mineralization and associated low level gold was intersected in diamond and RC drilling at the Lamil Main Dome in the maiden drilling program conducted in 2020 confirming the potential of the project. This program will follow-up these anomalous results with a reduced drill spacing, aimed at vectoring into a mineral system. Drilling will also test three newly defined targets related to coincident geophysical anomalies. These targets are interpreted to be hosted in prospective geological units within the Yeneena Supergroup, which host mineralization at the nearby Nifty copper mine and Telfer gold-copper mine. The drilling will provide litho-geochemical data to aid with the interpretation of the basement geology and structure, which lies under 40m to approximately 200m of cover. The Lamil Gold-Copper Project is located in the Paterson Province in the northwest of Western Australia, 500 kilometres east of Port Hedland. Under the terms of the earn-in and exploration joint venture agreement with Rumble Resources, AIC can earn a 50% interest by spending $6 million over 4 years. Thereafter AIC can earn a further 15% by spending $4 million over 1 year if Rumble elects not to commence contributing. The Lamil Project is located within the highly prospective Paterson Province of remote northern Western Australia. The Paterson Province is one of the most highly endowed yet under-explored mineral provinces in Australia. It hosts the world-class Telfer gold-copper mine and the Nifty copper mine. The Lamil Project, which covers an area of 1,280km², is situated midway between these two mines. Discoveries by Rio Tinto at Winu and by the Newcrest-Greatland Gold JV at Havieron has confirmed the prospectivity of the region The Lamil Project captures a covered belt of Yeneena Supergroup rocks (which host mineralization at both the Telfer and Nifty mines) bound by two deep penetrating, belt parallel NNW trending structures. In the southern tenement (E45/5271) the project is also influenced by regionally important NW orientated faults, and a series of major NE trending cross faults that are mappable across the entire belt. All these structural features are considered important in the development of major mineral deposits in the Paterson Province as they represent critical vertically accretive plumbing systems for circulating and trapping mineralizing fluids. Anuncio • Feb 26
AIC Mines Limited Announces Final Results from Maiden Drilling Program At Lamil Project AIC Mines Limited has now received all outstanding assays from its maiden drilling program completed at the Lamil Gold- Copper JV Project ("Lamil") in December 2020. These latest results confirm primary copper sulphide mineralisation with low level gold and multi-element pathfinder anomalism in the final two diamond drillholes of the program. The results are highly encouraging, particularly given the wide spacing of the drilling program. The maiden drilling program consisted of 68 wide-spaced aircore/reverse circulation drillholes and 7 diamond drillholes for a total combined metreage of 11,431m (8,591m AC/RC and 2,840m diamond coring). Results for the initial 65 AC/RC holes and 5 diamond holes were reported in AIC's ASX announcement "Initial Results from Maiden Drilling Program at Lamil Project" dated 28 January 2021. Results for the final two diamond holes and three RC holes are provided in this announcement. Assay results indicate coincident low level multi-element pathfinder geochemical anomalism, including gold and copper, extends along the central-eastern flank of the Lamil Main Dome for at least 2 strike kilometres (and possibly up to 6 kilometres) in association with a coherent zone of hydrothermal alteration defined by elevated sodium. The "alteration cell" is interpreted to represent albite alteration, a key feature of many of the known mineral systems of the Paterson Province including the world-class Telfer Gold-Copper Deposit, located just 30 kilometres to the east of Lamil. Diamond drill holes 20ALDD0006 and 20ALDD0007 were collared approximately 800m apart to test a prominent, strike extensive, magnetic/gravity high in an area of structural complexity along the outer central eastern flank of the Lamil Main Dome. Assays have now confirmed the presence of multiple (albeit narrow) intervals of primary copper sulphides (chalcopyrite) which were reported in both holes during detailed geological logging of the drill core. Importantly, copper mineralisation is hosted within both the metasedimentary sequence and several thick differentiated mafic (doleritic) intrusives. Copper mineralisation (chalcopyrite) occurs as fine disseminations, coarser blebs, fine-thin veinlets within both stratiform and discordant quartz-carbonate veins and within thin massive sulphide (pyrrhotite) veins. Timing of emplacement of the mafic intrusives is currently unknown however they appear to represent a syn-tectonic intrusive event and confirm the presence of major deep penetrating faults - a critical requirement for the circulation of mineralising fluids and the development of large intrusive related gold-copper deposits. Reverse circulation drillholes 20ALRC0048, 20ALRC0049 and 20ALRC0050 were drilled 100m north of diamond drillhole 20ALDD0003 to test for a northern extension of the zone of intense brecciation encountered in that hole. Each of the holes reported broad intervals of quartz carbonate veining and associated silicification and bleaching. AIC's drilling program is the first drilling ever conducted at the Lamil Dome targets. The geological and geochemical information provided by this drilling is very encouraging and has exceeded its expectations. The results from this work, combined with the results from recently completed infill and regional soil sampling and ground gravity surveys, are being used to prioritise targets for follow-up drill testing during the 2021 field season. Additional RC and diamond drill holes are planned to infill and extend the Phase 1 program at the Lamil Dome and to test newly identified targets over the broader project area. Heritage Surveys are scheduled for completion mid-April 2021. Drilling will recommence shortly thereafter dependent on drill rig availability. Anuncio • Jan 29
AIC Mines Limited Announces Initial Results Maiden Drilling Program At Lamil Project, Paterson Province WA AIC Mines Limited provided an update on its maiden drilling program completed at the Lamil Gold-Copper Project in December 2020. Diamond drillhole 20ALDD0003 was designed to test a prominent gravity high/magnetic low geophysical target coincident with a zone of marked structural complexity defined by the convergence of several major E-W/NW & N-S trending structures located along the central-eastern flank of the Lamil Main Dome, a position analogous to the main ore hosting position at the Telfer gold-copper mine. The hole penetrated the cover-basement unconformity at 68.7m downhole depth and immediately encountered variably altered, structurally disrupted/faulted basement metasediments comprising well laminated to intensely brecciated mudstones-siltstones-quartz sandstones with abundant vuggy quartz-carbonate veining. Trace amounts of sulphide (pyrite dominant) were evident as fine disseminations, rare coarser blebs and fine-thin stratiform and cross-cutting veinlets. Assays from this interval returned low-level copper enrichment at the basement interface which may be reflecting an underlying source. The hole remained in a structurally deformed and quartz-carbonate veined package of metasediments through to the end of the hole at 548.5m depth. At approximately 450m downhole depth the hole encountered a major lithological change coarsening abruptly from siltstone to sandstone. The contact between these units is marked by faulting, increased silica-chlorite-sericite alteration, and increased quartz-carbonate veining. Sulphides (predominantly pyrite) were evident as fine disseminations, lesser coarse blebs, stratiform and cross-cutting veins to 2m thickness and finer veinlets. Assays from this interval show several zones of anomalous Cu, Bi, P, Mn, Au, Pb, Fe and S. In particular between 400m to 450m downhole there is a coincident enrichment in the key pathfinder elements Cu-Bi-Au with associated elevated Fe, S and P. Diamond drillhole 20ALDD0006 was designed to test the outer southeastern limb of the magnetic Lamil Main Dome. The target is coincident with a gravity high, located where the dome is disrupted by a northeast trending cross-structure. The hole was also designed to test for a southern strike and depth extension to a mafic intrusive (dolerite) which was intersected in holes 20ALAC0018 and 20ALRC0028 located some 800m to the northwest. The hole penetrated the Permian cover, Proterozoic basement unconformity at 85.5m downhole depth. At this location, the basement comprises finely bedded fine grained quartz sandstone with altered siltstone. Sediments are tightly folded throughout displaying distinct basin and dome interference patterns. Similar folding is well documented at Telfer and is an important control on the distribution of gold and copper mineralisation within the Telfer orebodies. At downhole depths of 98.6m and 117.3m 20ALDD0006 intersected several zones of brecciated quartz-carbonate veining. The veins crosscut bedding and show variable amounts of sulphides including chalcopyrite, pyrrhotite and pyrite (up to 20%) as fine to coarse disseminations, coarser blebs, and irregular veinlets. At 200m downhole 20ALDD0006 encountered a faulted contact with a dolerite intrusive interpreted to be the southern strike extension of the dolerite intersected 800m to the north in holes 20ALAC0018 and 20ALRC0028. The upper part of the dolerite intrusive displays abundant brecciated quartz-carbonate veining containing up to 20% sulphides including pyrite, pyrrhotite and chalcopyrite. The dolerite appears to be differentiated varying from pyroxenitic to a medium grained quartz-feldspar (possibly granophyric) massive dolerite. Actinolite veining was also intersected and often associated with sulphides (pyrrhotite +/- chalcopyrite + pyrite) in trace amounts up to about 5%. The hole remained within dolerite over a downhole interval of almost 200m to its termination depth at 393.6m. The true thickness of the intrusive remains unknown at this location. Assay results from hole 20ALDD0006 have not yet been received. Diamond drillhole 20ALDD0007 was designed to test the outer southeastern limb of the magnetic Lamil Main Dome, coincident with a gravity high in an area of structural complexity where the dome is disrupted by a northeast trending cross-structure. The strongly magnetic feature is likely representing a mafic dolerite intrusive which cross cuts the sedimentary package and was intersected in holes 20ALDD0006, 20ALAC0018 and 20ALRC0028 described above. The hole penetrated the cover-basement unconformity at approximately 56m downhole depth and immediately encountered dolerite. At 119m downhole 20ALD0007 intersected a 5cm vein of massive pyrrhotite showing fine disseminated, fine veinlet and coarser blebby chalcopyrite. Metasediments were intersected from 135m - 174m. A brecciated zone from 143m - 146m with patchy carbonated filled voids showed increasing carbonate alteration within sediments prior to re-entering dolerite. At 225m - 230m the dolerite was again cut by brecciated quartz-carbonate veins containing sulphides including pyrrhotite, chalcopyrite and pyrite as irregular cross-cutting veins, thin massive sulphide veins, fine disseminations, and rare coarser blebs. The dolerite again becomes differentiated and progressively more massive with an increase in actinolite veining at depth. The actinolite veins are commonly associated with minor pyrrhotite, chalcopyrite and pyrite. Metasediments were intersected at 401m showing strong chloritic alteration. The hole was terminated at 439m in massive fine grained meta-quartz sandstone. Assay results from hole 20ALDD0007 have not yet been received. Assay results from the final drill holes are expected to be received in early February. AIC's drilling program is the first drilling ever conducted at the Lamil Dome targets. The geological and geochemical information provided by this drilling is very encouraging and has exceeded expectations. Additional RC and diamond drill holes are planned to both extend and infill the Phase 1 program. Preparation for this work is underway with Heritage Surveys expected to be completed mid-April 2021. Drilling will recommence shortly thereafter dependent on drill rig availability. Anuncio • Dec 19
AIC Mines Limited Completes Phase 1 Drilling at Lamil Project AIC Mines Limited reported that it has successfully completed Phase 1 wide-spaced reconnaissance drilling at its Lamil Gold-Copper Project ("Lamil") located 30 kilometres west of the Telfer Gold-Copper Mine in the highly prospective Paterson Province of Western Australia. AIC is currently earning an interest in the Lamil Project according to an earn-in and exploration joint venture agreement with Rumble Resources Limited (ASX: RTR). Under the terms of the agreement AIC can earn a 50% interest by spending $6 million over 4 years. Thereafter AIC can earn a further 15% by spending $4 million over 1 year if Rumble elects not to commence contributing. The key terms of the earn-in and exploration joint venture agreement are described in the Company's ASX announcement dated 22 July 2019. The Lamil Project is located within the highly prospective Paterson Province of remote North Western Australia. The Paterson Province is widely recognised as being one of the most well-endowed yet under-explored regions in Australia due largely to its remoteness and extensive cover. The Lamil Project comprises two Exploration Licences (E45/5270 and E45/5271) spanning a strike length of 90 kilometres which together secure an area totalling 1,280km2. The licences are underlain by Proterozoic Basement rocks that are considered to be prospective for Telfer and Havieron-style gold-copper deposits, Winu-style copper-gold deposits and Nifty-style copper deposits. Despite the Project being situated only 30 kilometres west of the world-class Telfer Gold-Copper Mine the area has never been previously drill tested due to an historical perception of ubiquitous deep cover (>400m). An initial program of broad-spaced (1600m x 400m) litho-geochemical aircore and/or reverse circulation reconnaissance drilling has now been completed across the Lamil Main Dome, the northern portion of the Lamil NE Dome and target GTA-1 of the southern geochemical anomalies. A total of 68 AC/RC holes were completed to an average depth of 126m for a total drilled of 8,591m. The aim of the program was to confirm depth to Proterozoic basement across the area, to confirm prospective basement lithologies and to map and sample the basement-cover interface to provide geochemical vectors towards basement hosted mineralisation. The depth to basement across the target area varied between 19m and 186m at the southern end and central west respectively of the Lamil Main Dome. Depth to basement was shallowest on the eastern side of the Lamil Main Dome and becomes deeper towards the western margin. The diamond drilling program was designed to test several targets which exhibit geophysical and geochemical responses consistent with intrusive related gold-copper deposits (e.g. Telfer, Winu and Havieron). A total of 7 diamond holes were completed to an average depth of 406m for a total drilled of 2,840m. The drilling has successfully identified basement lithologies and structural characteristics considered prospective for intrusive related gold-copper mineral systems. Final assay results for all holes are expected to be received during the March 2021 Quarter. Regional and infill soil sampling and surface gravity surveys are currently in progress to extend coverage in areas where depth to basement is interpreted to be less than 200m from the Lamil Dome to the northern boundary of E45/5270. Additional aircore /reverse circulation and diamond drill holes are planned to both extend and infill the Phase 1 program. Anuncio • Sep 22
AIC Mines Limited Commences Drilling at Lamil Project AIC Mines Limited announced that drilling has commenced at its Lamil Gold-Copper Project ("Lamil") located 30 kilometres west of the Telfer Gold-Copper Mine in the highly prospective Paterson Province of Western Australia. Overview: The drilling will focus on high priority geophysical and geochemical targets centred on the Lamil Main Dome prospect area. This initial phase will comprise up to 7,500m of aircore and reverse circulation ("RC") drilling and approximately 2,500m of diamond drilling. All the targets are under cover (up to 100m) and have never been drill tested before. Wide-spaced aircore and RC drilling will be used to gather litho-geochemical data over the prospect area and test the basement-cover sequence interface. Deeper diamond drilling will be used to gather information about the basement geology (i.e. the target horizon) and structure. Additional surface geochemical and geophysical surveys are also underway. Aircore and Reverse Circulation Reconnaissance Drilling: Broad-spaced (1600m x 400m) litho-geochemical aircore and/or reverse circulation reconnaissance drilling will be completed across the Lamil Main Dome, Lamil NE Dome and the southern geochemical anomalies. The aim of the program is to confirm depth to Proterozoic basement across the area and to map and sample the basement-cover interface to provide geochemical vectors towards basement hosted mineralisation. Diamond Drilling: The diamond drilling program is designed to test several targets which exhibit geophysical and geochemical responses consistent with intrusive related gold-copper deposits (e.g. Telfer, Winu and Havieron). This initial program will consist of 7 holes each expected to be drilled to approximately 350m depth. Additional aircore and/or reverse circulation and diamond drill holes are planned to both extend and infill the current program however this is dependent on completion of Heritage Surveys by the Traditional Landowners. Three of the diamond holes are located along the eastern flank of the Lamil Main Dome and one hole is designed to intersect a combined magnetic and gravity anomaly identified southwest of the Lamil Main Dome: Target 4A - located at the northeastern flank, northern fold closure of the Lamil Main Dome this target is defined by a prominent northwesterly trending structure derived from detailed ground gravity data coincident with an area of multi-element surface geochemical anomalism. The target is a Telfer analogue. Importantly, the northern extents of the Lamil Main Dome and the northern extent of the Telfer Domes are linked by a prominent regional scale NW-SE trending gravity cross-structure. Target 5A - located on the eastern limb of the Lamil Main Dome this target is defined by a discrete gravity high and a magnetic low coincident with a broad zone of surface geochemical anomalism. The magnetic low potentially represents de-magnetisation associated with alteration of basement rocks. The target is a Telfer analogue. Target 5C - located on the central-outer flank of the eastern limb of the Lamil Main Dome. The position is coincident with a gravity high where the domal structure is disrupted by a prominent northeast trending cross-structure. The target is a Telfer analogue. Target 1A - located 2 kilometres southwest of the Lamil Main Dome this target is defined by a prominent, discrete, combined magnetic and gravity high, a convergence of major gravity derived structures and is coincident with a well-defined, multi-element surface geochemical anomaly displaying characteristics associated with intrusive related gold-copper mineral systems. The target is a Havieron analogue. The cost of the drilling will be partly funded by a co-funding grant awarded to the project by the Western Australian Government under the Exploration Incentive Scheme for innovative exploration drilling projects. The grant amount totals $150,000 and drilling is required to be completed prior to 31 December 2020. Anuncio • Jul 07
AIC Mines Limited has completed a Follow-on Equity Offering in the amount of AUD 2.6 million. AIC Mines Limited has completed a Follow-on Equity Offering in the amount of AUD 2.6 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 9,285,714
Price\Range: AUD 0.28
Discount Per Security: AUD 0.01288
Transaction Features: Subsequent Direct Listing 
