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AIC Mines: Eyes $30m to expand Eloise copper mine, QLD | Fintech InShorts: Latest fintech news, analysis by experts

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AIC Mines: Eyes $30m to expand Eloise copper mine, QLD

By Steve Sam

February 9, 2023

AIC Mines Eyes $30m to expand Eloise copper mine, QLD

AIC Mines (A1M) taps investors for $30 million to support a staged expansion of its Eloise copper mine in North Queensland
The company is looking to expand its existing processing plant at Eloise to process ore from the nearby Jericho copper-gold deposit
Through a two-tranche placement, A1M hopes to raise enough capital to fund the initial work related to the Jericho mine development, including mining studies and drilling
The placement comprises 66.7 million new shares at 45 cents per share — an 8.2 per cent discount to A1M’s last closing price of 49 cents
Company shares resumed trade today and were down 5.1 per cent to trade at 46.5 cents at 1:46 pm AEDT

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