Auric Mining Nears 30,000 Ounces at Jeffreys Find, Expands WA Gold Footprint
Auric Mining wraps up its final gold processing campaign at Jeffreys Find with strong cash flow, while advancing mining and acquisitions at Munda and Higginsville to fuel growth.
- Final processing campaign underway at Jeffreys Find with ~30,000 ounces expected
- Mining progresses at Munda with 99,000 BCM moved and toll milling deal secured
- Strategic acquisitions include nickel rights and infrastructure at Munda, plus eight Higginsville tenements
- Lindsay’s Gold Project acquisition pending legal clearance
- Settlement of Burbanks processing plant expected in Q3 2025, backed by $6.6M capital raise
Jeffreys Find Wraps Up with Strong Returns
Auric Mining Limited (ASX – AWJ) is closing the chapter on its Jeffreys Find Gold Mine with the eighth and final ore processing campaign underway at the Three Mile Hill plant. To date, the staged open-pit operation has yielded over 27,600 ounces of gold, translating into $12.86 million in cash proceeds for Auric. With approximately 60,000 tonnes of ore now processed, total production is expected to approach 30,000 ounces, marking a successful conclusion to this joint venture-managed project.
Munda Mine Advances with New Agreements and Acquisitions
Meanwhile, Auric’s Munda Gold Mine is gaining momentum. Mining of the Starter Pit has progressed well, with nearly 99,000 bank cubic metres of material moved by quarter-end. The company has secured a toll processing agreement with Black Cat Syndicate Ltd to process up to 125,000 tonnes of ore at the Lakewood Mill from October 2025 through February 2026. This arrangement is expected to streamline ore processing and accelerate production timelines.
In a strategic move to consolidate operational control, Auric acquired the mining camp, in-pit water supply, and all nickel rights at Munda from WIN Metals Ltd for $1.4 million. This acquisition not only secures key infrastructure but also enhances Auric’s long-term development prospects at the site, although lithium rights remain with WIN Metals amid ongoing legal disputes.
Expanding the Portfolio – Higginsville and Lindsay’s Gold Projects
Expanding its footprint in Western Australia’s prolific gold regions, Auric completed the acquisition of eight new tenements in the Higginsville area from Loded Dog Prospecting Pty Ltd. Preparations for reverse circulation and aircore drilling programs at the Amorphous and Foote’s Find prospects are underway, signaling a proactive exploration approach.
Additionally, Auric has finalized due diligence on the Lindsay’s Gold Project, including the Parrot Feathers open pit. The acquisition is poised to proceed once outstanding mining plaints are resolved, with settlement anticipated in the third quarter of 2025. This project is expected to contribute meaningfully to Auric’s production pipeline.
Burbanks Plant Settlement and Capital Raise Fuel Growth
Looking ahead, Auric expects to settle the purchase of the Burbanks Gold Processing Plant in Q3 2025. Ownership of this facility will enable Auric to become a fully integrated gold explorer, miner, and processor, potentially unlocking greater value from its ore bodies. Post-settlement, design studies for processing options will commence immediately.
Supporting these operational advances, Auric successfully completed a $6.6 million placement during the quarter. The capital injection is earmarked to accelerate gold production and underpin the company’s transition into a multi-asset, vertically integrated gold producer.
Outlook
With a strong cash position of $8.7 million and a diversified portfolio of assets across Western Australia, Auric Mining is strategically positioned for its next growth phase. The company’s integrated approach; from exploration through processing; could enhance operational efficiencies and shareholder returns as new projects come online.
Bottom Line?
Auric’s integration of mining, processing, and strategic acquisitions sets the stage for a transformative growth trajectory in WA’s gold sector.
Questions in the middle?
- How will the resolution of mining plaints impact the Lindsay’s Gold Project acquisition timeline?
- What are the potential implications of the lithium rights dispute at Munda on Auric’s operations?
- How soon after Burbanks plant settlement can Auric expect to realize processing efficiencies and cost savings?