Not necessarily claiming to be wise...look at my name...but according to AIC's last Quarterly Report (Oct 20) it's AISC was A$ 5.35/lb Cu and an AIC cost of $6.93. It's Eloise orebody is an eye watering 1.5km underground, and accessible only by a tortuously long decline.
Perhaps this raises the question is it / or can it, run at a profit with current Cu prices?
Achieved Cu price for the Quarter was A$5.17 ($5.30 previous quarter).
Meanwhile it's cash balance these last three quarters have been trending down - $34m, $28m, $22m. From nowhere, it now needs to pay a new Qld state govt bond of $9.5m!
It desperately needs to close a deal with the adjacent DRM 'Jericho' Cu deposit to gain a shallow ore resource.
To me, DRM looks the better side of the see-saw to play this.
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