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An announcement from AIC Mines Limited ( (AU:A1M) ) is now available.
AIC Mines Limited has successfully secured $55 million through a placement of new shares to institutional and sophisticated investors, aimed at funding the expansion of the Eloise processing plant and the development of the new Jericho copper mine. The placement, supported by major shareholders and new investors from Australia, North America, and Britain, also includes a strategic investor agreement with Hawke’s Point, which reduces future funding risks and provides a structure for potential financial support. Additionally, a Share Purchase Plan will be offered to eligible shareholders in Australia and New Zealand to raise up to $10 million.
The most recent analyst rating on (AU:A1M) stock is a Buy with a A$0.62 price target. To see the full list of analyst forecasts on AIC Mines Limited stock, see the AU:A1M Stock Forecast page.
More about AIC Mines Limited
AIC Mines is a growth-focused Australian resources company specializing in building a portfolio of gold and copper assets in Australia through exploration, development, and acquisition. The company owns the Eloise copper mine, a high-grade underground mine in North Queensland, and is advancing exploration projects for copper and gold.
Average Trading Volume: 1,610,579
Technical Sentiment Signal: Sell
Current Market Cap: A$190M
Learn more about A1M stock on TipRanks’ Stock Analysis page.