Auric’s Jeffreys Find Closure Signals Shift from Joint Venture to Solo Producer

Final Milling Campaign Underway

Auric Mining Limited has commenced the final toll milling campaign of ore from its inaugural Jeffreys Find Joint Venture project. Approximately 60,000 tonnes of ore are being processed at the Three Mile Hill Mill in Coolgardie, Western Australia, marking the closing chapter of this significant mining partnership.

The campaign is expected to conclude by the end of July 2025, with a target production of 2,750 ounces of gold. This final push will bring the total gold sold from Jeffreys Find to over 30,000 ounces, a milestone that underscores the project's success since inception.

Financial Windfall and Strategic Impact

From this last milling campaign, Auric anticipates receiving between $4.0 and $4.5 million in surplus cash distribution. This figure is part of a broader financial outcome where Auric will have banked more than $17 million from its share of the Jeffreys Find joint venture. The surplus cash is generated after deducting all mining, haulage, milling costs, and related expenses, which are managed and paid by joint venture partner BML Ventures.

Managing Director Mark English highlighted the significance of this final campaign, describing it as a "bumper final payday". He noted that most mining costs have already been covered, enhancing the profitability of this last phase. The funds will be strategically deployed to support ongoing operations and development at Auric's Munda Gold Mine, signaling a transition from joint venture reliance to independent gold production.

Joint Venture Dynamics and Future Outlook

The Jeffreys Find project has been operated under a joint venture agreement where BML Ventures acts as the miner and operator, bearing all operational costs. After gold sales, surplus cash proceeds are split evenly between Auric and BML. This arrangement has proven lucrative for Auric, providing a substantial capital base to fuel its growth ambitions.

With the final milling campaign underway, attention will soon turn to the completion of gold sales and final accounting, expected by October 2025. The outcome will set the stage for Auric’s next chapter, focusing on expanding its footprint and production capabilities at Munda.