Auric Sells 2,355 Ounces for A$14.6M, Books Next 65,000 Tonne Campaign

Strong Start at Munda Starter Pit

Auric Mining Limited (ASX, AWJ) has reported a robust start to gold production from its Munda Starter Pit, with 2,355 ounces sold generating gross revenue of A$14.6 million. After milling fees paid to Black Cat Syndicate’s Lakewood Mill, Auric expects to bank a net A$8.8 million, underscoring the commercial viability of its initial mining campaign.

The company completed processing nearly 58,000 tonnes of ore at the Lakewood Mill, achieving an average sale price of approximately A$6,200 per ounce. This performance reflects both the quality of the ore and the favourable gold price environment, which Auric’s Managing Director Mark English described as “hugely in our favour.”

Looking Ahead, Next Processing Campaign and Expansion Plans

Building on this momentum, Auric has already booked a second processing campaign of 65,000 tonnes scheduled to commence in mid-January 2026. This next phase is expected to further solidify the company’s cash flow and operational footprint.

Beyond the Starter Pit, Auric is preparing to advance its plans for the Munda Main Pit, with detailed planning and scoping activities slated to begin in the first quarter of 2026. The Main Pit represents a significant opportunity to scale production and move Auric closer to its goal of becoming a sustainable, mid-sized gold producer.

Strategic Partnerships and Cost Efficiency

The ore processing arrangement with Black Cat Syndicate’s Lakewood Mill has proven to be a cost-effective solution for Auric, enabling the company to monetise its ore efficiently while focusing on growth initiatives. This partnership is a key element in Auric’s strategy to maximise shareholder value from its Munda operations.

As Auric transitions from initial production to expansion, the company’s ability to maintain strong margins amid fluctuating gold prices will be critical. The current average sale price of over A$6,200 per ounce provides a solid buffer, but market volatility remains a factor to watch.

Outlook and Market Positioning

With a successful first campaign behind it and a clear path forward, Auric Mining is positioning itself for a promising 2026. The combination of near-term cash generation and strategic development plans at Munda signals a company on the rise within Australia’s competitive gold mining sector.

Investors will be watching closely as Auric delivers on its expansion plans and navigates the challenges of scaling production while maintaining cost discipline.