AIC Mines (ASX: A1M) – Eloise Copper Mine QLD
COMPANY SCOREBOARD
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ABOUT COMPANY
AIC Mines (A1M) (https://www.aicmines.com.au/) develops the Eloise Copper Mine in QLD. Copper Price Link.
In November 2022, the company acquired DRM through a 1:1.3 script valuing DRM’s EV at $25m. DRM was listed in May 2022 after raising $15m@25c. It had 102m shares at around 20c-23c including $10.6m cash. DRM’s Jericho Project hosts an Inferred Resource of 14.1Mt@1.46% Cu and 0.29g/t Au for 205,000t Cu and 129,000oz Au. The metrics of the takeover price (45.5c) is around $120 per tonne of Cu.
CAPITAL STRUCTURE
| ASX Code | Share Price | Shares | Option (In) | Market Cap | Cash/Asset ($m) |
| A1M | 0.365 | 575682640 | 210124163.6 | 53/0 |
| Holders No | Top 20 (Cur) | Top 20 (Pre) | Director Hold | Performance Right | Note |
| 4757 | 64% | 71.69% | 8.54% | 32435683 | last raise $57m@52c; pre raise $30m@45c |
FLAGSHIP ASSETS
Eloise Copper Mine QLD
The processing mill can treat up to 750,000tpa, and is planned to expand to 1,1Mtpa for $60m
Below are the project’s resources and reserves:
OTHER ASSETS
SUMMARY
The current ore will deliver $100m cash flow at the best.