2250 GMT - Jefferies assumes AIC Mines's expansion of its Eloise copper project will incur capital costs of A$30 million. That's higher than the A$15 million guided by the company to bring Eloise's capacity to 1.5 million tons of ore a year. Still, analyst Daniel Roden says the capex forecast is "meaningfully below our prior estimated A$45 million-A$65 million, given key long-lead items have been oversized during Stage 1." AIC Mines says the expanded Eloise operation will be ready in the December quarter of 2028. That's around two years earlier than previously planned. Jefferies has a "buy" call on AIC Mines and raises its price target by 11%, to A$1.00/share. AIC Mines ended Monday at A$0.625. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
July 20, 2026 18:50 ET (22:50 GMT)
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