The AIC Mines Ltd (ASX: A1M) share price is in focus after the company delivered a strong set of FY26 results, with revenue rising 29% to $245.2 million and net profit after tax surging 177% to $41.5 million.
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What did AIC Mines report?
- Sales revenue: $245.2 million, up 29% from FY25
- EBITDA: $108.1 million, up 71% from FY25
- Net profit after tax: $41.5 million, up 177% from FY25
- Operating cash flow: $107 million, up 110%
- Basic earnings per share: 5.27 cents (FY25: 2.60 cents)
- No dividend declared
What else do investors need to know?
AIC Mines maintained solid safety standards, with its Total Recordable Injury Frequency Rate improving from 12.0 to 5.7. The company produced 13,064 tonnes of copper and 6,621 ounces of gold in concentrate at its Eloise operation, achieving cost guidance for the third year in a row.
Development of the Jericho mine delivered 2,451 metres during the year, helping set up future growth by adding more ore sources and supporting the planned expansion of Eloise's processing plant. The business finished FY26 with $41.7 million in cash and a strengthened balance sheet, with an enlarged US$50 million Trafigura debt facility, $20 million of which remains undrawn.
What did AIC Mines management say?
Managing Director and CEO Aaron Colleran commented:
FY26 has been a transformative year with robust operational and financial results driven by solid execution at Eloise and strong advancement of the Jericho development. The new processing plant expansion is on schedule, and we're well positioned for our next phase of growth.
What's next for AIC Mines?
Looking ahead, AIC Mines will focus on commissioning the upgraded Eloise processing plant in late 2026. This expansion is expected to lift production and improve economies of scale, with the aim of producing over 25,000 tonnes of copper annually by FY29. The company also plans to continue mine development at Jericho and pursue further growth opportunities in its exploration pipeline.
AIC Mines share price snapshot
Over the past 12 months, AIC Mines shares have risen 176%, significantly outperforming the All Ordinaries Index (ASX: XAO).
