A1M (AIC Mines)
Dear James, Shawn and the MM Team, Thanks for your great effort in providing valuable advice to me. A1M’S share price has fallen from $4.50 in Feb 23 to a close of $0.270 on 23/Feb. A1M is building a new Australian mid-tier copper and gold miner. In the recent Financial Result (6 months ended 12/23), A1M recorded PAT of $2.2M against a loss of $5,2M in 12/22, and EBITA of $24.7M against $7.8M in 12/22. The FY24 Forecast PE ratio is 6.9 and the two brokers, Ord Minnett and Shaw and Partners, which covers A1M In FNArena have a price target of $0.70 and $0.90 respectively – almost 200% upside. They see “compelling value” in the current share price, as the market is expecting an increase in demand of copper. I also noticed that Insiders have brought over 5M shares over $1.8M in the last 12 months. (None Selling) Thanks again for taking this question
