Shaw and Partners

Shaw and Partners is pleased to be appointed as Joint Lead Manager and Joint Bookrunner to the proposed capital raising by AIC Mines Limited (ASX.A1M).

AIC Mines is seeking to raise A$57.2 million by way of a single tranche, non-underwritten Placement of new ordinary fully paid shares issued at A$0.52. The issue price of A$0.52 represents a 9.3% discount to the five-day volume-weighted average price of A$0.5731 and a 11.9 % discount to the last close of $0.59.

AIC Mines Limited is a growth focused Australian resources company. Its strategy is to build a portfolio of gold and copper assets in Australia through exploration, development and acquisition. AIC Mines operates the Eloise Copper Mine in North Queensland and owns the Jericho copper-gold deposit located 4 kilometres south of Eloise. The Company also has gold and copper exploration projects in Western Australia and New South Wales.

Proceeds raised from the offer will be used to fund the Eloise to Jericho link drive development and associated ventilation infrastructure. The proposed link drive is expected to be completed over approximately 24 months and to reach first development ore in June 2026 whilst also allowing for rapid development of any future discoveries along the 3.0km of prospective strike.

The offer is available to Australian Sophisticated and Professional Investors only. For more information, please contact your Shaw and Partners adviser.