Ann: Quarterly Activities Report, page-6

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weissman

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22/01/24

12:08

Post #: 71997849
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Originally posted by vandeleur: ↑

I was a tad nervous about this quarterly but looks excellent, once again. Congrats to the AIC team.

Key take outs for me, in no order of importance (but very weirdly for naked honesty, and perhaps humor, number 8 might be the most important);

1) Smashed the copper out. Properly beat guidance on this. And at an increasingly reduced cost.
2) 11% of this coming quarters production is coming from Lens 6. That's ahead of schedule!
3) Mining fleet now pretty much at 100% for the next period.
4) Very seemingly sensible approach to Jericho plant studies. The numbers clearly indicate, via primary school maths, that we should be looking at 22 - 28,000t pa Cu + gold in a few years time.
5) Very much enjoyed the consistent style of reporting. Increasing investor confidence, absolutely.
6) Seemingly CR via equity is off the table with the new language. Whilst debt is not locked in it looks pretty available. Language has firmed up significantly in this direction. No dilution, excellent if this occurs on the right terms.
7) Negative / positive, the initial box cut has been delayed to the sept quarter at the earliest due to approvals (and possibly an overseas pastoral owner). Is this positive or negative? Certainly gives them a bit more time to get the sites roads, water etc set up and ready to go. Must say it did seem a short timeline in previous reports. Will also give them more time to optimize everything, and there is a lot of 'everything' to organize. This delay may give them more time to get the new plant studies fully optimized?
8) THE standout, the finger (!) and the new kitchen! Had to laugh. Sorry. Just loved the finger bit. Simply brilliant reporting.
9) Still cash flow positive despite increased capital spend including ongoing Jericho studies. Again, should improve ability to secure debt late this quarter on reasonable terms?

This confirms one thing to me, and only one thing. I'm pretty sure i am a top 50 shareholder, but i simply don't have enough AIC. (please don't take this as a ramp). Just can't get it past the wife. Unless there is a geological event or Cu price collapse the future looks very secure.

The future does appear rather bright for the next few years, but not silly stupid Disallowed bright that ends up burning your eyes and empties your pockets. Just the right bright imo. 45 - 65c by December.
No advice, just waffle.

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Yep very decent quarter! Congratulations to the AIC team, they're continually building themselves up as being able to meet / beat their guidances. I really do appreciate their conservative style of management.

@vandeleur at these prices you would be able to build up a nice chuck too.

AIC is chugging along nicely!

Last edited by weissman: 22/01/24

A1M Price at posting: 28.0¢ Sentiment: None Disclosure: Held
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