2348 GMT - Bell Potter thinks AIC Mines can fully fund an expansion of its Eloise copper-gold mining operation. That's despite higher costs in 4Q, which led some in the market to question its ability to fund this ambition, analyst David Coates says. AIC Mines' shares fell to a one-month low of A$0.67 following the 4Q report, which featured all-in sustaining costs of A$6.15/lb. Bell Potter says the higher costs were driven by lower grades, weaker sales volumes, higher diesel costs and accounting impacts of the integration of maiden copper production from the new Jericho mine. AIC Mines on July 20 will update its outlook. Bell Potter expects this will include signals about a staged expansion at Eloise to 1.5 million tons/year, from 1.1 million tons. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

July 16, 2026 19:48 ET (23:48 GMT)

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