AWJ
Auric Mining Limited
ASX
Capital Raise Presentation
Sentiment:
Capital Raise Presentation
22 May 2025 8:26 PM
Auric Mining Ltd is seeking funds to acquire the Burbanks Gold Facility and Lindsays Project, aiming to accelerate gold production and grow its resource base.
Capital raise
The document is a capital raise presentation.
The total allocation of the capital raising is $6,660,000.
The funds are intended for the Burbanks Gold Facility and Lindsays Project.
Summary
- Auric Mining Ltd is undertaking a capital raise to fund the acquisition of the Burbanks Gold Facility and the Lindsays Project.
- The company aims to accelerate gold production and rapidly grow its resource base.
- Auric plans to process the final 60,000 tonnes from Jeffreys Find in Q3 2025, targeting 2,750 ounces of gold.
- The company intends to complete starter pit mining at Munda in Q4 2025, targeting 6,100 ounces.
- Auric expects to complete the Lindsays acquisition, publish a resource model, and start mining in Q4 2025.
- The 2025 production target is 8,500 to 9,000 ounces of gold.
- The medium-term plan (2026-2028) involves escalating gold production and rapidly growing resources, aiming to reach 500,000 ounces by December 2028.
- The company had $7.4 million cash at bank as of March 31, 2025.
- Auric's total exploration budget to 30 April 2026 is $1,700,000.
- The total allocation of the capital raising is $6,660,000.
Sentiment
Score: 7
Explanation: The document presents a positive outlook with clear goals for production and resource growth, supported by acquisitions and exploration plans. However, it also acknowledges risks associated with forward-looking statements and operational dependencies.
Positives
- Auric is acquiring assets (Burbanks and Lindsays) with existing infrastructure.
- The company has a clear strategy to increase gold production and grow its resource base.
- The Munda Gold Mine is a major asset with a significant mineral resource.
- The company has a team with a track record of successful gold discovery, development and production.
- Gold sales to date have reached A$72.3 million with an average sale price of A$4,024 per ounce.
Risks
- Forward-looking statements are subject to risks and uncertainties.
- The company's ability to achieve its production targets and resource growth depends on various factors, including exploration success, operational performance, and market conditions.
- The acquisition of Lindsays is subject to settlement.
- Technical and feasibility studies are required to determine the parameters of a mill refurbishment or rebuild at Burbanks.
Future Outlook
Auric Mining aims to escalate gold production and rapidly grow its resource base, targeting 500,000 ounces by December 2028, with a focus on rebuilding the Burbanks Gold Facility for processing Auric ore from 2028 onwards.
Management Comments
- The company has a team with a track record of successful gold discovery, development and production, that has grown Auric into a highly profitable gold producer.
- Auric needs to own its own mill and control its own destiny.
Industry Context
Auric Mining operates in the Australian gold mining sector, focusing on exploration, development, and production. The company's activities are primarily located in the Goldfields region of Western Australia. The document references Westgold Resources Limited and Astral Resources, indicating that Auric operates in proximity to other established gold producers.
Comparison to Industry Standards
- The document references Westgold Resources Limited and Astral Resources, indicating that Auric operates in proximity to other established gold producers.
- Westgold Resources' Higginsville Gold Deposit is mentioned in relation to the Loded Dog and Spargoville tenements.
- Spargos Reward, owned by Westgold Resources, produced 37,439 ounces of gold at 3.1g/t Au between 2021 and 2022.
- Atlantic Gold Corporation's Touquoy Gold Mine, where John Utley previously worked, was acquired by St Barbara.
Stakeholder Impact
- Shareholders: Potential for increased value through production growth and resource expansion.
- Employees: Opportunities for growth and development with new projects.
- Customers: Consistent gold production and sales.
- Suppliers: Increased demand for goods and services related to mining operations.
- Creditors: Potential for increased financial stability and repayment capacity.
Next Steps
- Complete the acquisition of the Burbanks Gold Facility.
- Complete the acquisition of the Lindsays Project.
- Commence planning for mill refurbishment or upgrade at Burbanks.
- Conduct focused drilling campaigns at Lindsays, Loded Dog, and Spargoville.
- Process final 60,000t from Jeffreys Find in Q3 2025.
- Complete Starter Pit mining at Munda in Q4 2025.
- Publish resource model and start mining at Lindsays in Q4 2025.
- Conduct technical and feasibility studies for Burbanks mill refurbishment or rebuild in 2025/2026.
Key Dates
- 31/3/25: Cash at Bank (as at 31/3/25) $7.4 million
- Q3/2025: Process final 60,000t from Jeffreys Find Q3/2025 target of 2,750 ounces
- Q3/2025: Expected settlement of Lindsays Project in Q3/2025
- Q3/2025: New resource estimate to be completed in Q3/2025 for Lindsays Project
- Q4/2025: Complete Starter Pit mining at Munda in Q4/2025 target of 6,100 ounces
- Q4/2025: Complete Lindsays acquisition, publish resource model and start mining in Q4/2025
- Q4/2025: Mobilise team and equipment to Lindsays Q4/2025 after Munda Starter Pit is completed
- Q1/2026: Auric's intention is to commence mining in Q1/2026 at Lindsays Project
- Q1/2026: Plan is to toll treat the ore at a nearby mill from Q1/2026 at Lindsays Project
- Q3/2026: Main pit to get underway in Q3/2026 at Munda
- 2028: Rebuild Burbanks and be ready to process Auric ore from 2028 onwards
- December 2028: Rapidly grow resource base via exploration or acquisition with the aim to build to 500,000 ounces by December 2028
- 30 April 2026: Total Exploration budget to 30 April 2026 $1,700,000
Keywords
gold production, resource expansion, capital raise, Burbanks Gold Facility, Lindsays Project, Auric Mining, gold mining, exploration
AWJ
Auric Mining Limited
ASX
Sector: Materials
Filings with Classifications
Better than expected
15 July 2025 9:38 PM
Investor Presentation
- The Jeffreys Find Gold Mine has significantly exceeded expectations by generating over $120 million in gold sales with a low acquisition and development cost of approximately $1.5 million.
- The estimated final cash distribution to Auric from Jeffreys Find of $11.5 million to $12.5 million is a strong financial outcome.
- The company's proforma financial estimates for FY2025 show substantial growth in total revenue to $24 million and net profit before tax to $13 million, indicating a very positive outlook.
Better than expected
8 July 2025 6:28 PM
Operational Update
- The project is expected to yield a 'bumper final payday' with Auric anticipating around $4.0 million from this campaign.
- Auric expects to bank more than $17 million in total from its profit share, described as a 'game changer' for the company.
- The target of 2,750 ounces from the final campaign is considered an 'impressive result'.
Better than expected
6 July 2025 6:20 PM
Commercial Agreement Announcement
- The execution of the toll milling and ore purchase agreement is a significant positive step, enabling the company to monetize gold from the Starter Pit and generate substantial cash flow.
Delay expected
4 July 2025 2:33 AM
Acquisition Update
- The Wardens Court hearing, originally due on 4 July 2025, has been further adjourned to 1 August 2025, delaying the resolution of a key condition precedent for the acquisition.
Worse than expected
4 July 2025 2:33 AM
Acquisition Update
- The Wardens Court hearing, which is a condition precedent for the acquisition, was further adjourned from 4 July 2025 to 1 August 2025, indicating a delay in the acquisition process.
Better than expected
28 May 2025 11:00 PM
Annual General Meeting Presentation
- Net Profit Before Tax increased by a significant 212% from FY 2023 to FY 2024.
- Total Revenue grew by a substantial 76% in FY 2024.
- The Jeffreys Find Mine is projected to yield over $15 million in cash returns from a $1.5 million investment, indicating exceptional profitability.
- Total Assets and Net Current Assets also showed strong growth of 62% and 135% respectively.
Capital raise
22 May 2025 8:26 PM
Capital Raise Presentation
- The document is a capital raise presentation.
- The total allocation of the capital raising is $6,660,000.
- The funds are intended for the Burbanks Gold Facility and Lindsays Project.
Capital raise
20 May 2025 6:58 PM
Trading Halt Request
- Auric Mining is planning a capital raising.
- The details of the capital raising will be announced after the trading halt is lifted.
Worse than expected
1 May 2025 4:57 AM
Legal Update
- The company is facing legal action, which introduces uncertainty and potential financial strain.
Better than expected
30 April 2025 1:45 AM
Annual Report
- The company's net profit before tax increased by over 300% compared to the previous year, indicating a significant improvement in financial performance.
Capital raise
27 April 2025 11:40 PM
Notice of Annual General Meeting
- The company is seeking approval for a 7.1A mandate, allowing it to issue up to 10% of its issued capital without further shareholder approval.
- Funds raised from the 7.1A Mandate will be used for acquisitions, exploration, development, and working capital.
Delay expected
31 March 2025 11:10 PM
Project Update
- The due diligence period for the Lindsays Gold Project has been extended.
Better than expected
30 March 2025 5:17 PM
Annual Report
- The company's net profit before tax increased by 212% compared to the previous year, indicating a significant improvement in profitability.
- Total revenue increased by 76%, demonstrating strong growth in sales.
- Adjusted net profit before tax increased by 101%, reflecting improved operational efficiency.
Better than expected
6 March 2025 2:00 AM
Corporate Presentation
- Stage Two gold production at Jeffreys Find has surpassed $100 million in revenue, exceeding initial expectations.
Delay expected
28 February 2025 1:12 AM
Announcement
- The settlement date will be changed to a date yet to be agreed, indicating a delay in the original timeline.
Better than expected
23 February 2025 5:50 PM
Operational Update
- The gold sales exceeded $100 million, surpassing initial expectations.
- The average gold price achieved was significantly higher than the initial estimate of A$2,600 per ounce.
Delay expected
9 February 2025 5:50 PM
Announcement
- The due diligence timeframe for the exclusive right to purchase the Burbanks Plant has been extended.
Better than expected
30 January 2025 4:13 PM
Quarterly Activities Report
- The company exceeded expectations with gold sales of $58.7 million at an average price of $3,952 per ounce.
- The Munda project has progressed faster than expected with the definition of an Ore Reserve and a clear path to mining.
- The acquisition of the Burbanks Mill at a discounted price is a positive development.
Better than expected
30 January 2025 4:12 PM
Quarterly Report
- The company reported a positive operating cash flow, which is better than many exploration companies that often report negative cash flow.
Better than expected
13 January 2025 4:22 PM
Production Update
- The company has exceeded expectations in terms of gold sales and ore processing compared to Stage One.
- The average gold price achieved is higher than previous sales, leading to increased revenue.
- The company has received significant interim cash distributions, indicating strong financial performance.
Better than expected
22 December 2024 4:24 PM
Operational Update
- The company's gold sales for 2024 have exceeded the previous year's total, indicating better than expected performance.
Better than expected
16 December 2024 4:13 PM
Acquisition Announcement
- The acquisition price is a substantial discount to current and replacement values.
- The acquisition will enable Auric to process its own ore, reducing reliance on third-party toll milling.
- The potential to upgrade the plant's capacity offers significant growth opportunities.
Capital raise
11 December 2024 11:53 PM
Clarification Announcement and Pre-Feasibility Study
- The upfront project capital cost for the starter pit is $6.5M.
- Any delay to the treatment of ore via toll milling leads to a requirement for working capital of $8.3M, including a 35% contingency.
Worse than expected
11 December 2024 11:45 PM
Resource Update
- The updated resource estimate shows a slight reduction in grade compared to the previous estimate.
Capital raise
11 December 2024 1:10 AM
Capital Raise Announcement
- Auric Mining Limited is raising AUD 45,000 through the issue of 300,000 ordinary shares at AUD 0.15 per share.
Worse than expected
9 December 2024 4:46 PM
Exploration Update
- The results are worse than expected due to the high AISC of $2,635 per ounce compared to industry averages, a lower than average gold recovery rate, and a very short mine life for the Starter Pit.
Delay expected
9 December 2024 4:46 PM
Exploration Update
- Any delay to the treatment of ore via toll milling leads to a requirement for working capital, including a 35% contingency, $8.3M.
Worse than expected
9 December 2024 4:44 PM
Exploration Update
- The updated resource estimate shows a slight reduction in estimated gold grade compared to the previous estimate from January 2022.
Delay expected
20 November 2024 4:18 PM
Operational Update
- Heavy rain has slowed down the haulage of ore to the Three Mile Hill Plant, potentially impacting the overall processing timeline.
Better than expected
14 November 2024 4:22 PM
Exploration Update
- The drilling results exceeded expectations, revealing high-grade gold intercepts at the Fugitive Prospect and opening a new exploration target at Anomaly 37.
Delay expected
30 October 2024 10:20 PM
Quarterly Report
- The Munda Gold Project's timeline has been delayed due to DEMIRS requiring a Mining Proposal for a larger area than initially planned.
Better than expected
30 October 2024 10:20 PM
Quarterly Report
- The Jeffreys Find gold mine's second processing campaign exceeded expectations, generating significantly higher revenue than anticipated.
Better than expected
27 October 2024 5:20 PM
Operational Update
- The securing of a toll milling agreement with Focus Minerals for a significant amount of ore surpasses previous expectations and ensures expedited cash flow for Auric.
Better than expected
9 September 2024 12:17 AM
Half Year Financial Report
- Auric Mining reported a net profit for the half-year, a significant improvement from the previous year's loss, exceeding expectations given the previous year's performance.
Better than expected
5 September 2024 6:20 PM
Exploration Update
- The aircore drilling results exceeded expectations by confirming high-grade gold intersections at the Fugitive Prospect and identifying additional promising targets at the Anomaly 37 Prospect.
Capital raise
25 July 2024 6:21 PM
Quarterly Cash Flow Report
- The document includes questions about the entity's plans to raise further cash to fund its operations if it has less than 2 quarters of funding available.
- This suggests a potential need for a capital raise in the future.
Worse than expected
25 July 2024 6:21 PM
Quarterly Cash Flow Report
- The company's net cash from operating activities was negative, indicating it spent more than it earned from operations.
- The company has negative cash available for future operating activities, suggesting potential funding challenges.
Better than expected
24 July 2024 6:23 PM
Production Update
- The company expects cash surpluses well in excess of what they had budgeted and anticipated due to the increasing gold price.
Better than expected
4 July 2024 6:18 PM
Missing type for ID: 5160
- ASX:AWJ announces better than expected results.
Better than expected
28 May 2024 7:11 PM
Production Update
- The average selling price of gold was $543 per ounce better than last year.
Better than expected
29 April 2024 6:32 PM
Quarterly Activities Report
- The company is targeting to mine 300,000 tonnes of ore in 2024, significantly more than the 176,000 tonnes processed in 2023.
Capital raise
22 April 2024 12:33 AM
Notice of Annual General Meeting
- The company is seeking approval for a 7.1A mandate, which would allow it to issue up to an additional 10% of its issued capital without further shareholder approval.
- The funds raised from these equity securities would be used for various purposes, including acquisitions, exploration, development, and working capital.
Better than expected
18 April 2024 11:14 PM
Annual Report
- The company reported a profit after income tax expense for the year attributable to the owners of Auric Mining Limited of $1,313,644 compared to a loss of $1,106,692 in the prior year.
Disclaimer: This summary was generated by artificial intelligence and its accuracy is not guaranteed. The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.