Auric’s Bold Expansion Hinges on Key Acquisitions and Mill Upgrade
Auric Mining Ltd has unveiled a capital raising plan aimed at boosting gold production and expanding its resource base through 2028, including key acquisitions and exploration initiatives.
- 2025 gold production target of 8,500 to 9,000 ounces
- Acquisition of Lindsay’s Project and Burbanks Gold Facility underway
- Munda Starter Pit mining to complete in Q4 2025
- Medium-term goal to grow resources to 500,000 ounces by 2028
- Strong balance sheet with $7.4 million cash and zero debt
Auric’s 2025 Production and Capital Raise
Auric Mining Ltd is positioning itself for accelerated growth in gold production and resource expansion with a comprehensive capital raising initiative. The company targets producing between 8,500 and 9,000 ounces of gold in 2025, driven by the final processing of ore from its Jeffreys Find mine and completion of the Munda Starter Pit mining operation.
The Munda Starter Pit, Auric’s flagship asset with a mineral resource of 145,000 ounces, is expected to yield approximately 6,100 ounces of gold by the end of 2025. The economics of this project are underpinned by a robust gold price assumption around A$5,000 per ounce, supporting an all-in sustaining cost of about A$2,635 per ounce.
Strategic Acquisitions and Infrastructure Expansion
Integral to Auric’s growth strategy is the acquisition of the Lindsay’s Project and the Burbanks Gold Facility. The Lindsay’s Project, located northeast of Kalgoorlie, is expected to commence mining by early 2026 following settlement in Q3 2025 and a new resource estimate. This project offers near-term open pit mining potential and will benefit from toll treatment arrangements at nearby mills.
The purchase of the Burbanks Gold Facility at Coolgardie, anticipated to settle in Q2 2025 for $4.4 million, represents a critical step for Auric to control its processing destiny. The company plans to conduct technical and feasibility studies to refurbish or upgrade the mill, aiming to process its ore from 2028 onwards. Owning this facility will reduce reliance on third-party toll treatment and enhance operational flexibility.
Exploration and Medium-Term Growth Ambitions
Auric is also advancing exploration programs across several tenements, including Loded Dog and Spargoville, with a combined budget of approximately $1.7 million through to April 2026. These campaigns target expanding the resource base, with promising drill results already reported in these regions.
Looking beyond 2025, Auric’s medium-term plan focuses on escalating gold production and rapidly growing its resource inventory. The company aims to optimize a larger pit at Munda, mine and toll treat ore from Lindsay’s, and rebuild the Burbanks facility. The overarching goal is to grow resources under Auric’s control to 500,000 ounces by the end of 2028, a significant scale-up from current holdings.
Financial Position and Leadership
With a market capitalization of approximately $34 million and a cash balance of $7.4 million as of March 2025, Auric is in a strong financial position to execute its growth plans. The company carries no debt, which provides additional flexibility. The board and management team bring extensive experience in mining, exploration, and financial markets, underpinning confidence in delivering on these ambitious targets.
Overall, Auric Mining’s capital raise and strategic initiatives reflect a clear commitment to accelerating production and resource growth, while securing critical infrastructure to support long-term sustainability.
Bottom Line?
Auric’s next moves in acquisitions and mill refurbishment will be pivotal in transforming its gold production profile through 2028.
Questions in the middle?
- Will Auric complete the Lindsay’s Project acquisition on schedule and meet production targets?
- How will the refurbishment of the Burbanks Gold Facility impact processing costs and timelines?
- Can exploration at Loded Dog and Spargoville deliver the resource growth needed to reach 500,000 ounces by 2028?
