2305 GMT - AIC Mines expects to spend more on expanding the Eloise mill than Ord Minnett had expected. But the additional costs include oversized equipment that would allow AIC Mines to make the plant even bigger in future. AIC Mines plans to spend some A$78 million on expanding the Eloise mill so that it can process 1.1 million tons of ore annually. Ord Minnett had previously assumed the expansion would cost A$60 million. Still, analyst Paul Kaner notes the mill capacity could eventually rise to 1.5 million tons/year. At spot prices, this expansion would add A$0.07/share to Ord Minnett's estimate of net present value. He says this confirms the "logic to do it now with the company likely more confident on future mineral additions versus currently reported." (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

June 30, 2025 19:05 ET (23:05 GMT)

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