AIC Mines (A1M) and Hansen Technolgies (HSN)

Hi Darren,

AIC is a $245mn copper (Cu) miner we hold in our Emerging Companies Portfolio, we liked their 1H25 results that showed a solid increase in earnings after a better half of production at their Eloise mine. We covered the “nuts & bolts” of the result here but we have no plans to take profit at this stage, especially as the China trade gathers momentum.

HSN is a $1bn billing systems business we also hold in our Emerging Companies Portfolio, unfortunately they’re 1H results were less well received although all metrics were toward the top end of guidance and FY25 guidance was reiterated, including: 1) revenue between $398-$405m; 2) u/lying EBITDA between $92-101m; and 3) Cash EBITDA between $76-85m.

Powercloud, which has been an issue, is now expected to deliver positive u/lying EBITDA (vs losing up to $5m prior).  While stock fell over 9% for the week with the headline “Lower Fiscal H1 earnings despite higher revenue” unsettling some investors, we thought it was a solid update, which we covered here,

• We liked the core of HSN’s result and remain long & bullish HSN believing the stock offers solid value ~$5.

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AIC Mines Ltd (A1M)

LAST UPDATED 21/02/2025 19:34

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AIC Mines Ltd (A1M)

LAST UPDATED 21/02/2025 19:34