Auric Mining Prepares Final Jeffreys Find Gold Push with $4M Cash Target
Auric Mining is set to complete its final gold processing campaign at Jeffreys Find, aiming to generate $3.5 to $4.5 million in cash distributions and surpass 30,000 ounces mined from the project.
- 60,000 tonnes of ore to be milled in July at Three Mile Hill Mill
- Targeting approximately 2,750 ounces of gold in final campaign
- Expected $3.5 to $4.5 million cash distributions between July and September
- Surplus cash to be split 50:50 with joint venture partner BML Ventures
- Funds to support development at Auric’s Munda Gold Mine
Final Milling Campaign Underway
Auric Mining Limited (ASX: AWJ) is gearing up to conclude its Jeffreys Find Gold Mine operations with a final toll milling campaign scheduled to begin in early July 2025. Approximately 60,000 tonnes of ore will be processed at the Three Mile Hill Mill in Coolgardie, marking the end of this chapter for the project near Norseman, Western Australia.
As of mid-May, around 16,000 tonnes have already been stockpiled at the mill, with trucking continuing daily to meet the campaign’s target. The company anticipates completing milling by the end of July, aiming to extract roughly 2,750 ounces of gold from this last batch.
Financial Windfall and Partnership Dynamics
Managing Director Mark English described the upcoming campaign as a “bumper final payday,” noting that most mining costs have been settled. Auric expects to generate between $7 million and $9 million in surplus cash from this campaign, which will be shared equally with joint venture partner BML Ventures, the operators responsible for mining and managing the Jeffreys Find site.
Following cost deductions, Auric anticipates receiving $3.5 to $4.5 million in cash distributions between July and September. This will bring the total gold mined from Jeffreys Find to over 30,000 ounces, a milestone that underscores the project’s significance in Auric’s transition to a standalone gold producer.
Strategic Implications for Auric’s Growth
The funds from Jeffreys Find will be reinvested to support Auric’s ongoing operations and development at the Munda Gold Mine. Rehabilitation and demobilisation activities at Jeffreys Find are already underway, signaling a shift in focus toward new growth opportunities.
This final campaign not only closes a productive chapter but also strengthens Auric’s financial position as it advances its broader gold mining ambitions. The partnership with BML Ventures has proven effective in managing costs and operations, allowing Auric to capitalise on the project’s success.
Bottom Line?
Auric’s final gold push at Jeffreys Find sets the stage for fresh momentum at Munda.
Questions in the middle?
- Will actual gold recovery meet or exceed the 2,750-ounce target?
- How will the final cash distributions impact Auric’s funding strategy for Munda?
- What are the next operational milestones for Auric post-Jeffreys Find?
