Jefferies starts coverage of AIC Mines betting on solid management

AIC Mines

05/07/2022 07:02

** Brokerage Jefferies starts coverage on copper and gold
explorer AIC Mines  A1M.AX  with "buy" rating, says it is
confident in management team 
    ** Says AIC's primary asset, the Eloise copper mine is
benefitting from being within a listed entity with a longer-term
investment horizon 
    ** The acquisition of the Eloise copper mine in late 2021 is
an example of the management's ability to allocate capital
effectively, brokerage says    urn:newsml:reuters.com:*:nASX7yzFvD 
    ** "The management team holds a skill set exceeding the
requirements of the mine they currently manage" - Jefferies 
    ** Initiates coverage with price target of A$0.70, sees a
40% upside to last closing price of A$0.50 
    ** Stock down 4.8% YTD, as of last close 

 (Reporting by Harshita Swaminathan)
 ((Harshita.Swaminathan@thomsonreuters.com))