ASX
206 days, 18 hours ago 
AWJ
Auric Mining Limited
Jeffreys Find Sales in 2024 Exceeds 10,000 Ounces
Auric Mining reports strong gold sales for 2024, exceeding 2023 totals, with ongoing mining campaigns at multiple sites.
Better than expected
 
ASX
209 days, 18 hours ago 
AWJ
Auric Mining Limited
Significant Ngadju Native Title Agreement Executed
Auric Mining and the Ngadju Native Title Aboriginal Corporation have finalized a significant agreement covering all of Auric's tenements on Ngadju land, ensuring long-term exploration and development clarity.
ASX
212 days, 19 hours ago 
AWJ
Auric Mining Limited
Conditional Purchase of Burbanks Gold Plant Coolgardie
Auric Mining has conditionally agreed to acquire the Burbanks Gold Processing Facility for A$4.4 million, aiming to become a fully integrated gold producer.
Better than expected
 
ASX
216 days, 18 hours ago 
AWJ
Auric Mining Limited
Jeffreys Find Gold Mine Generates $5.2M from 1,243oz
Auric Mining Limited reports further gold sales of $5.2 million from its Jeffreys Find Gold Mine, with 1,243 ounces sold and a peak price of AUD$4,233 per ounce, signaling a strong return on investment.
ASX
217 days, 11 hours ago 
AWJ
Auric Mining Limited
Cleansing Statement
Auric Mining Limited (ASX: AWJ) issued 300,000 fully paid ordinary shares on December 12, 2024, under section 708A(5)(e) of the Corporations Act 2001.
ASX
217 days, 11 hours ago 
AWJ
Auric Mining Limited
Starter Pit Ore Reserve for Munda Gold Deposit-Clarification
Auric Mining Limited (ASX: AWJ) has clarified its December 10th announcement regarding the Munda Gold Deposit Starter Pit Ore Reserve, revising the announcement at the request of the ASX.
Capital raise
 
ASX
217 days, 11 hours ago 
AWJ
Auric Mining Limited
Application for quotation of securities - AWJ
Auric Mining Limited announced the issuance of 300,000 new ordinary shares following the exercise of unquoted options at an exercise price of $0.15 per share.
ASX
217 days, 11 hours ago 
AWJ
Auric Mining Limited
Updated Resources for Munda Gold Deposit - Clarification
Auric Mining Limited (ASX: AWJ) announced an updated gold resource estimate for the Munda gold deposit, slightly reducing estimated grade but optimizing a starter pit for near-surface gold mineralization.
Worse than expected
 
ASX
218 days, 10 hours ago 
AWJ
Auric Mining Limited
Proposed issue of securities - AWJ
Auric Mining Limited (AWJ) plans to issue 300,000 ordinary shares at AUD 0.15 per share on December 12, 2024, raising AUD 45,000.
Capital raise
 
ASX
219 days, 18 hours ago 
AWJ
Auric Mining Limited
Starter Pit Ore Reserve for Munda Gold Deposit
Auric Mining Limited defines a Starter Pit Ore Reserve at its Munda Gold Deposit, projecting 7,400 ounces of gold and a potential $5.3 million in undiscounted cash flow, marking a significant step towards full-scale production in 2026.
Worse than expected
 
Delay expected
 
AWJ 
Auric Mining Limited 
ASX

Starter Pit Ore Reserve for Munda Gold Deposit

Sentiment:
 Exploration Update
 9 December 2024 4:46 PM

Auric Mining Limited defines a Starter Pit Ore Reserve at its Munda Gold Deposit, projecting 7,400 ounces of gold and a potential $5.3 million in undiscounted cash flow, marking a significant step towards full-scale production in 2026.

Worse than expected
  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
  Any delay to the treatment of ore via toll milling leads to a requirement for working capital, including a 35% contingency, $8.3M. 

Summary
  • Auric Mining Limited has announced an Ore Reserve for a Starter Pit at its Munda Gold Deposit.
  • The Starter Pit is a precursor to full-scale mining operations planned for 2026.
  • The Ore Reserve is based on a Pre-Feasibility Study (PFS) and recent high-density drilling.
  • The Starter Pit contains an estimated 125,000 tonnes of ore at a grade of 1.8g/t gold, totaling 7,400 ounces.
  • The project is expected to generate $21.4 million in revenue at a gold price of $3,500 per ounce.
  • The undiscounted cash flow is projected to be $5.3 million, with an All-in Sustaining Cost (AISC) of $2,635 per ounce.
  • The mine life for the Starter Pit is estimated at 5 months.
  • The Starter Pit will be mined using conventional open pit methods, with ore processing to take place off-site under a toll treatment arrangement.
Sentiment

Score: 4

Explanation: The sentiment is below average due to the high AISC, short mine life, and sensitivity to various cost factors. However, the positive cash flow projection and the company's confidence in the project provide some balance.

Positives
  • The project has a positive undiscounted cash flow of $5.3 million.
  • The Starter Pit is based on Indicated Resources, which have a higher level of confidence than Inferred Resources.
  • The company has a high degree of confidence in their approach and the key inputs used in the PFS.
  • The use of a third-party processing plant reduces the initial capital expenditure required.
  • The project is located within a granted mining lease (M15/87) with established site access.
  • Permit applications for water extraction and Native Vegetation Clearing have been submitted.
  • The project is most sensitive to gold price, which has been trending upwards in recent years.
  • The average recovery used is 83.3%.
Negatives
  • The mine life of the Starter Pit is relatively short at 5 months.
  • The All-in Sustaining Cost (AISC) of $2,635 per ounce is relatively high compared to some other gold mines.
  • The project is sensitive to changes in gold price, mining costs, ore haulage costs, and ore processing costs.
  • The project requires upfront capital costs of $6.5 million.
  • Any delay to the treatment of ore via toll milling leads to a requirement for working capital, including a 35% contingency, $8.3M.
Risks
  • The project is dependent on receiving all necessary permits and approvals.
  • There is a risk that the actual gold recovery rate may be lower than estimated.
  • Fluctuations in the price of gold could impact the project's profitability.
  • Unexpected increases in mining, haulage, or processing costs could reduce the project's profitability.
  • Delays in the toll treatment process could lead to increased working capital requirements.
  • There is a risk that the company may not be able to secure the necessary funding to develop the project.
  • The project is located in a region with potential for native title claims.
Future Outlook

The Starter Pit is the first step towards potentially larger-scale mining operations at Munda, with full production targeted for 2026. The company is confident in its approach and aims to gain a better understanding of the deposit through the Starter Pit before moving to full production.

Management Comments
  • This work is another key part of the process in mining Munda.
  • We have a lot of confidence in our approach and the key inputs that have been used.
  • The starter pit is designed to provide a better understanding of the deposit before aiming to go into full production in 2026.
Industry Context

This announcement by Auric Mining aligns with the broader trend of gold exploration and development companies in Western Australia seeking to capitalize on favorable gold prices. The focus on defining a Starter Pit before moving to full-scale production is a common strategy to mitigate risks and optimize resource extraction. The use of toll treatment arrangements is also a prevalent approach in the industry to reduce capital expenditure and expedite production.

Comparison to Industry Standards
  • The projected AISC of $2,635 per ounce is relatively high compared to other gold mines in Western Australia. For example, Gold Fields' St Ives mine had an AISC of $1,800 per ounce in 2023, and Northern Star Resources' Kalgoorlie Consolidated Gold Mines (KCGM) had an AISC of $1,950 per ounce.
  • The estimated gold recovery rate of 83.3% is lower than some other operations in the region. For instance, the Tropicana Gold Mine, operated by AngloGold Ashanti and IGO, reported a recovery rate of over 90% in 2023.
  • The 5-month mine life for the Starter Pit is shorter than many other similar projects. Most starter pits are designed to operate for at least 12-24 months to provide a more substantial period of cash flow and operational data before transitioning to full-scale mining.
Next Steps
  • Submit remaining environmental permit applications.
  • Finalize agreements for toll treatment of ore.
  • Secure funding for the project's development.
  • Commence site preparation and infrastructure installation.
  • Begin mining operations at the Starter Pit.
  • Continuously monitor and evaluate the Starter Pit's performance to inform decisions about full-scale production.
Key Dates
  • 23 July 2024: Munda Gold Project. Auric Buys Specific Mineral Rights and related assets from WIN Metals for $1.2M.
  • August 2024: Munda, Preliminary Geotechnical Assessment report date
  • 22nd November 2024: Perth Mint gold price date used for calculations
  • 10 December 2024: Date of the announcement to the Australian Stock Exchange
  • 10 December 2024: Munda Gold Deposit. Updated Mineral Resources. Precursor to Starter Pit Mining Development.
  • 2026: Planned year for full production at Munda
Keywords
Gold Mining, Munda Gold Deposit, Starter Pit, Ore Reserve, Pre-Feasibility Study, Open Pit Mining, Toll Treatment, Indicated Resources, Undiscounted Cash Flow, All-in Sustaining Cost, Western Australia, Gold Price Sensitivity
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.
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.
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
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.
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.
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.
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.