AIC Mines reported Eloise and Jericho produced 3,072 tonnes of copper and 1,562 ounces of gold in concentrate in the quarter ended 30 September 2026. Eloise recorded an all-in sustaining cost of A$4.86/lb of copper sold, which the company said improved quarter-on-quarter despite lower-grade ore processing.
Quarterly production was below guidance after delayed access to higher-grade material at Eloise Deeps and Lens 6, along with earlier-than-planned plant shutdowns for equipment cutover work. A seismic event also required rehabilitation before the stopes could be safely accessed; AIC Mines said the work was subsequently completed and full access re-established.
The company maintained full-year guidance of 17,500 to 18,500 tonnes of copper and 7,250 to 7,750 ounces of gold in concentrate. It said higher-grade Deeps and Lens 6 material would be accessed later in the mine schedule.
At Jericho, AIC Mines said the first production stope was fired on 24 September, about two weeks ahead of schedule. The company said ramp-up towards approximately 37,000 tonnes per month was underway and remained on schedule for commercial production in January 2027.
Separately, AIC Mines entered binding agreements to acquire Materra Metals, owner of the Mt Cuthbert Copper Project, for A$120 million comprising A$100 million in shares and A$20 million cash. The company also entered a proposed A$70 million placement agreement, with shareholder approval to be sought at a 4 November 2026 meeting.
Source: Download A1M official ASX announcement, 2026-10-22.
AIC Mines quarterly activities report, 22 October 2026: construction progress at the Eloise processing plant expansion.