AIC Mines' Eloise Copper Output Rises in December 2024 Quarter

MT Newswires Live

01-28

AIC Mines (ASX:A1M) produced 3,316 tonnes of payable copper from its Eloise mine in Queensland during the December 2024 quarter, up from 3,094 tonnes in the September quarter, according to a Tuesday filing with the Australian bourse.

Copper sold reached 3,576 tonnes in the three months to December, compared with 2,936 tonnes in the prior quarter.

The mining company reported all-in all-in-sustaining cost of AU$4.99 per pound, lower than the AU$5.05 per pound recorded in the previous quarter due to improved copper grade and recovery, higher by-product credits, and cost savings, per the filing.

Production in the March 2025 quarter is expected to revert to "average" levels from the higher-than-average output recorded in the December 2024 quarter, with 3,000 to 3,200 tonnes of copper and 1,250 ounces of gold in concentrate targeted.

As of Dec. 31, 2024, AIC Mines held AU$44.7 million in cash at the bank.

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