AIC Mines – $30m Placement  – 2023

$30.0 million Placement for AIC Mines Limited to accelerate staged expansion at the Eloise Copper Mine.

Argonaut acted as Joint Lead Manager and Joint Bookrunner to the $30.0 million Placement for AIC Mines Limited (ASX:A1M). The Placement was well supported by a number of institutional investors alongside existing shareholders, directors and major shareholder FMR Investments.

Proceeds from the Placement will be applied to funding initial work related to the Jericho mine development and Eloise processing plant expansion, including Jericho mining studies, Eloise expansion studies, Jericho resource and extension drilling and early works for a new crusher and other infrastructure upgrades.

Argonaut is delighted to support AIC Mines Limited and looks forward to the company’s ongoing success.

Additional Information regarding AIC Mines Limited can be found on the company’s website at: https://www.aicmines.com.au/