External broker reports(aggregated public sources), Ord Minnett

Ord Minnett

Ord Minnett is a leading Australian wealth management group, incorporating full-service stockbroking, financial planning and funds management. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

External broker reports(aggregated public sources)

Equity Bottom-Up

<div><div><div><div><ul><li>We have now included the DRM acquisition into our base case model with an assumed 2Q23 completion.</li><li>This follows A1M passing the +90% compulsory acquisition threshold.</li><li>Whilst there is dilution to our near-term earnings (FY23/24 ~20%), our NAV increases ~A$59m (+A$0.05/sh – diluted) on improved FY25+ metrics (production / opex) and a higher Exploration figure. Furthermore, the acquisition increases A1M’s prominence in terms of scale, liquidity, mine life and risk profile – which should place it on the radar for more investors. </li></ul></div></div></div></div><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

We have now included the DRM acquisition into our base case model with an assumed 2Q23 completion.This follows A1M passing the +90% compulsory acquisition threshold.Whilst there is dilution to our near-term earnings (FY23/24 ~20%), our NAV increases ~A$59m (+A$0.05/sh – diluted) on improved FY25+ metrics (production / opex) and a higher Exploration figure. Furthermore, the acquisition increases A1M’s prominence in terms of scale, liquidity, mine life and risk profile – which should place it on the radar for more investors. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

AIC Mines Limited - Incorporating DRM – Increasing Domestic Copper Prominence

AIC Mines Ltd

AIC Mines Limited - Incorporating DRM – Increasing Domestic Copper Prominence