A1M +4.94%: released 1H25 results that showed a solid increase in earnings after a better half of production at their Eloise mine.
- 1H25 EBITDA of $30.6m (+24% yoy)
- 6,657 tonnes of copper at All-In-Sustaining-Cost (AISC) of $5.02/lb
- Net cash balance of $44.7m as at 30 December
The better production at the flagship Eloise was owed to improving operational reliability and consistency of the mill. The balance sheet is well capitalised for the new development commenced on the Elrose Levuka North remnant ore blocks at the top of the mine and production will start from these blocks in the June quarter which will be capital intensive but will add incremental production into FY26. Given the copper price has moved up from ~$4.00/lb to ~$4.60/lb this calendar year so far, A1M is hitting its stride production-wise at the perfect time.
MM remains long and bullish A1M
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