ASX
206 days, 19 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, 19 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, 19 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, 12 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, 12 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, 12 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, 12 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, 19 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
 
ASX
219 days, 19 hours ago 
AWJ
Auric Mining Limited
Updated Resources for Munda Gold Deposit
Auric Mining Limited announces an updated estimate of gold resources for the Munda gold deposit, indicating a slight reduction in grade but setting the stage for a starter pit operation by early 2025.
Worse than expected
 
ASX
230 days, 18 hours ago 
AWJ
Auric Mining Limited
142,000 Tonne Milling Campaign Commenced at Greenfields
Auric Mining Limited (ASX: AWJ) has commenced a 142,000-tonne milling campaign at the Greenfields Mill, with first gold sales expected imminently and further cash distributions anticipated in December 2024.
ASX
234 days, 19 hours ago 
AWJ
Auric Mining Limited
Investor Presentation
Auric Mining Limited (ASX: AWJ) presented an investor presentation outlining its progress, including $27.95 million in gold sales from Jeffreys Find and plans to commence mining at its flagship Munda project in Q1 2025.
ASX
238 days, 19 hours ago 
AWJ
Auric Mining Limited
Milling Started at Three Mile Hill. Target 40,000 Tonnes.
Auric Mining (ASX: AWJ) commenced ore processing at the Three Mile Hill Plant, targeting a minimum 40,000-tonne parcel with the first gold pour expected within seven days and subsequent cash distributions to Auric in December 2024.
Delay expected
 
ASX
244 days, 19 hours ago 
AWJ
Auric Mining Limited
Encouraging RC Drill Results at Spargoville Project
Auric Mining Limited (ASX: AWJ) reported encouraging RC drilling results from its Spargoville Project, with highlights including 7m @ 4.88g/t Au at the Fugitive Prospect and the opening of a new target at Anomaly 37.
Better than expected
 
ASX
259 days, 14 hours ago 
AWJ
Auric Mining Limited
Quarterly Activities Report
Auric Mining Limited (ASX: AWJ) reported strong Q3 2024 results, including $23.48 million in revenue from the Jeffreys Find gold mine's second processing campaign and significant progress at its Munda gold project.
Better than expected
 
Delay expected
 
ASX
262 days, 19 hours ago 
AWJ
Auric Mining Limited
Additional Milling to Start in 10 Days of Jeffreys Find Ore
Auric Mining's joint venture partner, BML Ventures, has secured a toll milling agreement with Focus Minerals to process up to 120,000 tonnes of ore from the Jeffreys Find Gold Mine, boosting expected cash flow.
Better than expected
 
ASX
288 days, 18 hours ago 
AWJ
Auric Mining Limited
Total Gold Sales of $23.5M from Jeffreys Find Campaign
Auric Mining Limited (ASX: AWJ) completed its second 2024 gold milling campaign at the Jeffreys Find Gold Mine, producing 6,295 ounces of gold and generating $23.5 million in sales.
ASX
303 days, 10 hours ago 
AWJ
Auric Mining Limited
Melbourne Mining Club Presentation
Auric Mining Limited (ASX: AWJ) presented its progress at the Melbourne Mining Club, highlighting significant gold production milestones at its Jeffreys Find mine and outlining plans for its flagship Munda project.
ASX
311 days, 12 hours ago 
AWJ
Auric Mining Limited
2024 Half Year Financial Report
Auric Mining Limited (ASX: AWJ) reported a net operating profit of $411,944 for the half-year ended June 30, 2024, driven by strong gold sales and a robust balance sheet.
Better than expected
 
AWJ 
Auric Mining Limited 
ASX

Updated Resources for Munda Gold Deposit

Sentiment:
 Exploration Update
 9 December 2024 4:44 PM

Auric Mining Limited announces an updated estimate of gold resources for the Munda gold deposit, indicating a slight reduction in grade but setting the stage for a starter pit operation by early 2025.

Worse than expected
  The updated resource estimate shows a slight reduction in estimated gold grade compared to the previous estimate from January 2022. 

Summary
  • Auric Mining Limited has released an updated gold resource estimate for its Munda gold deposit, located in Western Australia.
  • The updated estimate was conducted by Matrix Resource Consultants Pty Ltd and is a precursor to defining an Ore Reserve for a trial pit.
  • The new estimate is based on a gold price of $AUD3,200/oz and incorporates data from a recent close-spaced drilling program.
  • Compared to the previous estimate from January 2022, the new estimate shows a slight decrease in gold grade due to more conservative data treatment.
  • The updated resource model is being used to optimize plans for a starter pit to mine near-surface gold, with operations expected to commence in early 2025.
  • The Munda Gold Project has seen multiple phases of exploration since the 1960s, with the most recent drilling conducted by Auric in 2021-2024.
  • The resource estimate utilized Multiple Indicator Kriging (MIK) with block support correction, a method suitable for estimating resources recoverable by open-pit mining.
  • The resource is classified as Indicated and Inferred, with Indicated resources tested by drilling spaced at around 20m or closer, and Inferred resources extrapolated up to 30m from drilling areas.
  • Metallurgical test work indicates a refractory gold component in fresh basalt, but overall recovery rates are expected to be determined via a starter pit.
Sentiment

Score: 6

Explanation: The sentiment is cautiously optimistic due to the progress towards mining a starter pit, but tempered by the slight reduction in grade and the presence of refractory gold.

Positives
  • The company is progressing towards starting mining operations, indicating a proactive approach to development.
  • The inclusion of recent drilling data suggests a commitment to accurate and up-to-date resource estimation.
  • The use of a conservative approach in estimating mineable grades may lead to positive variations in actual mining outcomes.
  • The project's location near existing infrastructure could facilitate cost-effective development and operations.
  • The long history of exploration at Munda provides a substantial dataset for resource estimation and project planning.
  • The application of industry-standard methods for sampling, sub-sampling, and resource modelling enhances the reliability of the estimates.
  • The classification of resources into Indicated and Inferred categories provides a clear understanding of the confidence levels associated with the estimates.
  • The consideration of a range of cut-off grades demonstrates a thorough assessment of the project's economic viability.
Negatives
  • The updated estimate shows a slight reduction in estimated gold grade compared to previous estimates.
  • Reporting of resources within an optimal pit shell reduces the tonnes compared with the earlier estimate.
  • A refractory gold component has been identified in fresh mafics, which may affect gold recovery rates.
  • There is a lack of recorded QA procedures or QC data for some of the historical drilling, which could affect the overall confidence in the dataset.
  • The presence of nickel mineralisation overlapping with gold mineralisation may complicate mining and processing operations.
Risks
  • Variations in the actual gold grade encountered during mining could impact the project's profitability.
  • The refractory nature of the gold in fresh basalt may lead to lower-than-expected recovery rates, affecting project economics.
  • Uncertainty remains regarding the overall gold recovery rate, which will need to be confirmed through a starter pit operation.
  • The project's reliance on historical data with limited QA/QC information introduces some uncertainty into the resource estimation.
  • Potential challenges may arise from the spatial overlap of gold and nickel mineralisation, requiring careful planning for extraction and processing.
  • The project's economics are based on a gold price of $AUD3,200/oz, and fluctuations in the gold price could significantly impact profitability.
  • Delays in obtaining necessary approvals or permits could postpone the start of mining operations.
  • Environmental factors, such as acid mine drainage, could pose challenges, although initial assessments suggest a non-acid forming rock mass.
Future Outlook

Auric Mining is focused on commencing mining operations with a starter pit in early 2025 and will use the updated resource model to optimize the pit design.

Management Comments
  • We have steadily progressed our understanding of the Munda gold deposit with infill drilling and this resource update as part of that progression.
  • Were pushing hard to start mining a starter pit early in 2025.
  • mineable grades at Munda in our planning for a starter pit such that any variations should be on the upside.
Industry Context

This announcement by Auric Mining is part of the broader trend of gold exploration and development in Western Australia, a region known for its significant gold endowment. The focus on near-surface, open-pit mineable resources is common in the industry, particularly for junior miners looking to transition to production. The use of updated drilling data and resource modelling techniques reflects the industry's ongoing efforts to improve the accuracy and reliability of resource estimates.

Comparison to Industry Standards
  • The Munda project's approach to resource estimation, including the use of Multiple Indicator Kriging and the consideration of a starter pit, is consistent with industry practices in Western Australia.
  • The assumed gold price of $AUD3,200/oz for pit optimization is higher than the current spot price but reflects a reasonable long-term outlook, similar to assumptions made by other companies in the region.
  • The estimated mining and processing costs are within the range observed at other gold projects in Western Australia, such as those operated by Ramelius Resources and Gold Fields.
  • The refractory nature of the gold in fresh basalt at Munda is not uncommon in the region, with similar challenges faced by companies like Bellevue Gold at their Bellevue Gold Project.
  • The metallurgical recovery rates indicated by test work are comparable to those achieved at other projects with similar mineralogy, such as the King of the Hills project operated by Red 5 Limited.
Next Steps
  • Optimisation of the starter pit design using the updated resource model.
  • Commencement of mining operations for the starter pit in early 2025.
  • Further metallurgical test work to refine gold recovery estimates.
  • Potential infill drilling to upgrade Inferred resources to Indicated.
  • Ongoing monitoring and assessment of the project's economic viability.
Key Dates
  • 1960s: Beginning of exploration at Munda
  • 1999: Excavation of a small pit by Resolute Mining
  • 28 January 2022: Previous estimate described in an ASX announcement
  • 2021-22: Auric drilled 55 deeper RC holes
  • 2023-24: Auric drilled 361 shallow infill holes
  • 10 December 2024: Announcement of updated gold resources estimate
Keywords
Gold, Mining, Munda Gold Deposit, Resource Estimate, Starter Pit, Exploration, Drilling, Western Australia, Mineral Resources, JORC, Open Pit Mining, Refractory Gold, Metallurgical Testwork, Indicated Resources, Inferred Resources
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.
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.
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.
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.