AIC Mines Stock Price Rises on Copper Expansion Plans

AIC Mines (ASX:A1M) has seen its stock price rise significantly over the past few months, valuing the company at around A$600 million.

The North Queensland copper and gold producer's growth story is centered around its Eloise underground mine, which has been in production since 1996 and has yielded more than 376,000 tonnes of copper and 195,000 ounces of gold over its life.

The company's expansion plan involves driving a three-kilometer underground link between the existing Eloise decline and the Jericho deposit, with the goal of doubling nameplate plant capacity and bringing a second orebody into production.