2214 GMT - Ord Minnett says it's now more confident that AIC Mines can handle some 1.5 million tons of ore annually at its Eloise copper-mining operation by FY29. That assertion follows a site trip to Eloise, and leans into AIC's recent exploration success and the relatively immature nature of the adjacent Jericho ore body. Analyst Paul Kaner says the trip highlighted progress on the expansion projects, including at the processing mill. Those are on schedule to drive a step change in production. A higher throughout will drive further production growth of 5,000 tons and a 10% reduction in unit costs for minimal additional plant capex, Ord Minnett says. Its price target lifts 13% to A$0.85/share. AIC ended last week at A$0.705. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
June 28, 2026 18:14 ET (22:14 GMT)
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