AIC Mines (IAUF.F) Conference July 23, 2025 01:20 AM ET Speaker0Before I started, I just wanted to check if there's anyone here from Harvey Bay. I'm looking for a 58 year old man from Harvey Bay because apparently, you're our average shareholder. Here's some interesting data from the Comsec from Comsec based on the Comsec client ownership of AIC Mines. And as I'm sure I'm not the only one in this room that's got a Comsec account, Comsec clients make up 36% of the AIC mines registered by number and 10% by va ...

Company Overview - AIC Mines has a share price of $0.32, with 718.5 million shares on issue, resulting in a market capitalization of $229.9 million[12] - The company holds $60.9 million in cash and has an enterprise value of $169.0 million[12] - FMR Investments is a substantial shareholder with 11.5% ownership, and directors hold 7.3% of shares[13] Operational Performance & Guidance - FY25 guidance achieved 12,863 tonnes of copper and 5,955 ounces of gold in concentrate, generating $27.4 million net mine cashflow[22] - Eloise Ore Reserve is 2.8 million tonnes grading 2.3% copper and 0.6g/t gold, containing 65,200 tonnes of copper and 56,500 ounces of gold[19] - Eloise Mineral Resource is 5.9 million tonnes grading 2.5% copper and 0.6g/t gold, containing 145,800 tonnes of copper and 120,800 ounces of gold[22] Jericho Development - Jericho Mineral Resource is 19.2 million tonnes grading 2.0% copper and 0.4g/t gold, containing 381,000 tonnes of copper and 245,500 ounces of gold[26] - Jericho Ore Reserve is 6.1 million tonnes grading 1.8% copper and 0.4g/t gold, containing 108,000 tonnes of copper and 70,900 ounces of gold[26] - Combined Eloise Region Mineral Resources total 28.4 million tonnes grading 2.0% copper and 0.4g/t gold for 563,000 tonnes of copper and 409,600 ounces of gold[26] Plant Expansion - Eloise plant expansion is underway with a fixed-cost EPC contract of $77.6 million, targeting commissioning in the December 2026 Quarter[29] - The expansion aims for a throughput capacity of 1.1 million tonnes per annum, with potential for a second stage expansion to 1.5 million tonnes per annum[29]

Operations - Glencore Plc is set to close its last two copper mines in Mt Isa, Queensland next week [1] - A decision is pending on whether to also shut down a smelter at the same complex [1]

Midnight Sun Kicks Off Expansion Drilling At Kazhiba-Main Oxide Target164 RC holes planned to test extensions of area drilled in 2024, with Maiden Resource Estimate to followJuly 22, 2025 6:30 AM EDT | Source: Midnight Sun Mining Corp.Vancouver, British Columbia--(Newsfile Corp. - July 22, 2025) - Midnight Sun Mining Corp. (TSXV: MMA) (OTC Pink: MDNGF) ("Midnight Sun" or the "Company") is pleased to announce the commencement of the expansion drilling program at the Kazhiba-Main oxide copper ta ...

Gunnison Copper Announces Johnson Camp Mineral Processing Has Started with First Copper Sales in SeptemberJuly 22, 2025 6:30 AM EDT | Source: Gunnison Copper Corp.Phoenix, Arizona--(Newsfile Corp. - July 22, 2025) - Gunnison Copper Corp. (TSX: GCU) (OTCQB: GCUMF) (FSE: 3XS0) ("Gunnison" or the "Company") is pleased to announce that mineral processing has started with first copper sales expected in September at the fully-permitted Johnson Camp Mine ("JCM"), in southeast Arizona."A major milesto ...

Core Viewpoint - Osisko Metals has announced significant new drilling results from the Gaspé Copper Project, highlighting the potential for resource expansion with the longest continuous intercept to date of 853 meters averaging 0.20% Cu, 1.43 g/t Ag, and 0.02% Mo (0.30% CuEq) [1][2]. Summary by Relevant Sections New Drill Results - Drill hole 30-1082 reported 853.5 meters of continuous mineralization, including a lower intercept of 424.0 meters averaging 0.21% Cu, 1.33 g/t Ag, and 0.026% Mo, extending mineralization to a vertical depth of 1140 meters [11][12]. - Drill hole 30-1089 intersected 645.0 meters averaging 0.28% Cu, 1.46 g/t Ag, and 0.023% Mo, with a lower intercept of 396.7 meters averaging 0.30% Cu, 1.34 g/t Ag, and 0.023% Mo, extending to a depth of 965 meters [15][16]. - Drill hole 30-1083 showed 427.5 meters averaging 0.26% Cu, 1.54 g/t Ag, with a lower intercept of 328.0 meters averaging 0.24% Cu, 1.43 g/t Ag, extending to a depth of 900 meters [12][13]. Mineral Resource Potential - The current drill program aims to convert the November 2024 Mineral Resource Estimate (MRE) to Measured and Indicated categories and test for deeper and lateral expansions [21][22]. - The Gaspé Copper Project hosts Indicated Mineral Resources of 824 million tonnes averaging 0.34% CuEq and Inferred Mineral Resources of 670 million tonnes averaging 0.38% CuEq [30][31]. Geological Context - Mineralization at the Gaspé Copper Project occurs as disseminations and stockworks of chalcopyrite with pyrite or pyrrhotite, with at least five recognized mineralizing events [19]. - The drilling is focused on defining open-pit resources within the Copper Mountain stockwork mineralization, with significant resource increases noted in the Inferred category [20][31].

Summary of J.P. Morgan's Metals Weekly Report on U.S. Copper Tariffs Industry Overview - The report focuses on the U.S. copper market and the implications of a proposed 50% tariff on copper imports, set to begin on August 1st, 2025 [1][3][5]. Key Points and Arguments Tariff Impact on Demand - A full pricing of the 50% tariff could lead to a 4% reduction in refined copper demand growth in the U.S. for the next year [1][13]. - U.S. copper demand constitutes only 6% of global demand, meaning a 4% decline in U.S. demand translates to approximately 0.2% of global demand [1][24]. - Current U.S. all-in copper prices are up by around 30% compared to the 3Q24 average, indicating a potential drag on demand growth of about 2.5% in the following year [19]. Supply Chain Dynamics - The U.S. exports 540-580 thousand metric tons (kmt) of copper contained in scrap annually, which could help reduce the 600-700 kmt import dependence on copper cathode [1][32]. - A scrap export ban could significantly harm the domestic scrap supply chain, shrinking the industry before it has a chance to grow [1][32][48]. - The U.S. has substantial copper project potential (~3 million metric tons per annum), but significant supply responses from new mines are not expected until the next decade due to long lead times [1][49]. Price and Market Reactions - The COMEX/LME arbitrage has remained static, with the premium of the September COMEX contract hovering between 25% and 28% [3]. - The anticipated tariff is expected to create a bearish pressure on LME prices in the second half of 2025, despite supportive medium-term fundamentals for copper prices, which are expected to remain above $9,000/mt [5]. Future Supply Considerations - The easiest way to increase U.S. primary copper supply is through solvent extraction/electrowinning (SX/EW) operations, which do not require additional smelting and refining infrastructure [1][51]. - The average lead time for mining projects in the U.S. is around 19 years, longer than the global average of 15.5 years, complicating the timeline for new supply [58]. Substitution and Demand Destruction - The report notes that both copper and aluminum are facing 50% tariffs, which diminishes substitution pressure between the two metals [25]. - Higher prices for both metals could lead to broader demand destruction rather than significant substitution trends [26]. Conclusion - The report suggests that while the proposed tariff will create challenges for U.S. copper demand and supply, it may also present buying opportunities for long-term investors as prices are expected to stabilize above $9,000/mt [5]. Additional Important Insights - The potential for exemptions from the tariff for countries like Indonesia could significantly impact U.S. copper import dynamics [4]. - The health of the U.S. manufacturing and construction sectors will continue to be the primary drivers of copper demand, alongside structural trends in utilities and data center builds [20]. This summary encapsulates the critical insights from the J.P. Morgan report regarding the implications of the U.S. copper tariffs on demand, supply, and market dynamics.

Company Overview - Copper Quest Exploration Inc. is focused on building shareholder value through the exploration and development of its North American Critical Mineral portfolio, comprising four projects over 40,000+ hectares in prime mining jurisdictions [8][11] - The company has a 100% interest in the Stars Property, covering 9,693 hectares, and the Stellar Property, covering 5,389 hectares, both located in British Columbia [9] - Additionally, Copper Quest has an earn-in option up to 80% on the 4,700 ha Rip Project and a 100% interest in the Thane Project, which spans over 20,658 hectares with significant mineralization potential [9][10] Leadership and Advisory - Mr. Chad McMillan has been appointed as a Strategic Advisor, bringing over twenty years of experience in capital markets, corporate finance, and the mining sector [2][3] - The CEO, Brian Thurston, emphasized Mr. McMillan's extensive experience in managing and financing resource ventures, which will strengthen the company's advisory group [3] Market Context - Copper is identified as a critical industrial metal essential for the global energy transition, playing a vital role in electrification, renewable energy systems, and electric vehicles [5] - The copper market is facing persistent deficits due to rising global demand and challenges in new supply, including declining grades and complex permitting processes [5] - Recent U.S. policy changes, such as import tariffs, highlight copper's strategic importance and the need for resilient domestic supply chains [5]

Core Viewpoint - Gunnison Copper Corp. has successfully closed a non-brokered private placement, raising gross proceeds of C$8.662 million through the sale of 28,874,100 units at a price of C$0.30 per unit [1][2]. Financing Details - Each unit consists of one common share and one common share purchase warrant, with the warrant allowing the purchase of one common share at C$0.45 until July 18, 2028 [2]. - The offering was conducted under the listed issuer financing exemption, allowing immediate tradeability of the securities in Canada [4]. Use of Proceeds - The net proceeds will fund additional work related to the High Value Add Work Program at the Gunnison Copper Project, initiate long lead time drilling and metallurgical testing for a pre-feasibility study, and cover general and administrative expenses for the U.S. head office for an additional 12 months [3]. Finder's Compensation - Red Cloud Securities Inc. received a cash commission of C$512,875.80 and was issued 1,709,586 non-transferable warrants, each allowing the purchase of one common share at C$0.45 until July 18, 2028 [5]. Company Overview - Gunnison Copper Corp. is a multi-asset copper developer and producer, controlling the Cochise Mining District in Southern Arizona, which contains 12 known deposits within an 8 km radius [7]. - The flagship Gunnison Copper Project has a measured and indicated mineral resource of over 831 million tons with a total copper grade of 0.31%, and a preliminary economic assessment indicates a net present value (NPV) of $1.3 billion and an internal rate of return (IRR) of 20.9% [10]. Additional Assets - The Johnson Camp Asset, under construction, is expected to produce its first copper in Q3 2025, with a capacity of up to 25 million pounds of finished copper cathode annually, fully funded by Nuton LLC, a Rio Tinto Venture [12].

Core Viewpoint - Gunnison Copper Corp. has successfully closed a non-brokered private placement, raising gross proceeds of C$8.647 million through the sale of 28,874,100 units at a price of C$0.30 per unit [1][2]. Financing Details - Each unit consists of one common share and one common share purchase warrant, with the warrant allowing the purchase of one common share at C$0.45 until July 18, 2028 [2]. - The offering was conducted under the listed issuer financing exemption, allowing immediate tradeability of the securities in Canada [4]. Use of Proceeds - The net proceeds will fund additional work related to the High Value Add Work Program at the Gunnison Copper Project, initiate long lead time drilling and metallurgical testing for a pre-feasibility study, and cover general and administrative expenses for the U.S. head office for an additional 12 months [3]. Finder's Compensation - Red Cloud Securities Inc. received a cash commission of C$512,875.80 and was issued 1,709,586 non-transferable warrants, also allowing the purchase of common shares at C$0.45 until July 18, 2028 [5]. Company Overview - Gunnison Copper Corp. is a multi-asset copper developer and producer, controlling the Cochise Mining District in Southern Arizona, which contains 12 known deposits within an 8 km radius [7]. - The flagship Gunnison Copper Project has a measured and indicated mineral resource of over 831 million tons with a total copper grade of 0.31%, and a preliminary economic assessment indicates an NPV of $1.3 billion and an IRR of 20.9% [10]. Additional Assets - The Johnson Camp Asset, under construction with first copper production expected in Q3 2025, is fully funded by Nuton LLC, with a production capacity of up to 25 million lbs of finished copper cathode annually [12].