AIC Mines Secures AU$55 Million to Drive Eloise Expansion and Jericho Mine Development.

AIC Mines Limited (ASX: A1M) has successfully raised AU$55 million through a well-supported placement to institutional and sophisticated investors at AU$0.30 per share. The funds, along with a US$40 million prepayment facility from Trafigura, will be used for the expansion of the Eloise processing plant, the development of the Jericho copper mine, and further exploration activities. A Share Purchase Plan targeting up to AU$10 million at the same issue price will also be offered to eligible shareholders.

The placement includes a strategic investment of AU$5 million by Hawke’s Point Resource Finance, which has entered into a two-year agreement offering future funding support if required. This capital injection enables AIC Mines to accelerate growth plans while reducing future funding risk. Tranche 2 of the placement, including AU$9.2 million from FMR Investments and directors, is subject to shareholder approval expected in August 2025.

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