Auric’s $4.4M Burbanks Buy Raises Questions on Refurbishment Costs and Timelines

Strategic Acquisition Completed

Auric Mining Limited has officially completed the acquisition of the Burbanks Gold Processing Facility, a move that marks a significant milestone in the company’s ambition to become a fully integrated gold producer. The $4.4 million purchase, finalized on September 30, 2025, secured a fully licensed and permitted processing plant located just 10 kilometres south of Coolgardie in Western Australia.

The Burbanks Plant is a comprehensive asset, featuring primary crushing, grinding, and Carbon in Leach (CIL) processing capabilities, alongside essential infrastructure such as power, water, tailings dams, and administrative facilities. Importantly, the acquisition includes granted mining leases and environmental approvals, which Auric believes will accelerate its timeline and reduce capital expenditure.

Control Over Production Cycle

Managing Director Mark English emphasized the transformational nature of the acquisition, highlighting that owning the processing infrastructure allows Auric to control its entire production cycle, from mining ore to gold pouring. This vertical integration removes the company’s dependence on third-party toll milling, a strategic advantage that could improve operational efficiencies and margins.

Mr English also pointed to Auric’s track record of acquiring quality assets at discounted prices, referencing the Jeffreys Find Gold Mine which yielded over tenfold returns within four years. The Burbanks Plant, acquired at a substantial discount to its intrinsic and replacement value, fits this value-creation strategy.

Next Steps and Growth Potential

Technical studies are set to commence in the final quarter of 2025 to assess whether the plant will undergo refurbishment or a complete rebuild. Auric has engaged expert consultants to evaluate optimal mill size and cost scenarios, with an eye toward upgrading production capacity. The company is confident that the plant’s strategic location and infrastructure will not only serve its own ore processing needs but could also attract third-party toll treatment opportunities.

While the plant has been non-operational since mid-2019, Auric sees the acquisition as a foundation for sustainable growth, especially amid a rising gold price environment. The move aligns with Auric’s broader ambition to evolve into a mid-tier gold producer with integrated operations in the heart of Western Australia’s Goldfields.