Auric Mining Banks $8.8M From Munda Gold Sales, Eyes Expansion
Auric Mining reports $14.6 million in gross revenue from initial gold sales at its Munda Starter Pit, with plans underway for further processing and mine expansion.
- 2,355 ounces of gold sold at an average A$6,200 per ounce
- Net revenue of A$8.8 million after milling and haulage costs
- Second 65,000-tonne processing campaign scheduled for January 2026
- Planning for Munda Main Pit development to begin in Q1 2026
- Ore processed at Lakewood Mill under cost-effective contract with Black Cat Syndicate
Strong Start at Munda Gold Mine
Auric Mining Limited has delivered an encouraging update on its Munda Gold Mine operations, announcing gross gold sales of A$14.6 million from the first three gold pours at the Munda Starter Pit. After accounting for milling and haulage costs, the company expects to bank a net revenue of A$8.8 million, underscoring the early commercial viability of the project.
The total gold sold to date amounts to 2,355 ounces, achieved at an average sale price of A$6,200 per ounce. This performance reflects both the quality of the ore and the favourable conditions in the gold market, which Auric’s Managing Director Mark English described as “hugely in our favour.”
Operational Efficiency and Next Steps
The ore from the Starter Pit was processed at the Lakewood Mill, operated by Black Cat Syndicate Ltd, under a contract that Auric highlights as a cost-effective pathway to monetise its ore. The initial campaign involved nearly 58,000 tonnes of ore, with a second campaign for 65,000 tonnes already booked to commence in mid-January 2026.
This ongoing relationship with Black Cat not only facilitates efficient processing but also positions Auric well for scaling operations. The company anticipates finalising the gold in circuit (GIC) calculation by the end of November, which will confirm the precise ounces and revenue from the Starter Pit campaign.
Looking Ahead, Munda Main Pit and Growth Ambitions
With the Starter Pit campaign complete, Auric is turning its attention to the Munda Main Pit, with detailed planning and scoping scheduled to begin in the first quarter of 2026. This next phase represents a significant opportunity to expand production capacity and move Auric closer to its goal of becoming an integrated, sustainable mid-sized gold producer.
Mr. English emphasised the momentum gained from the Starter Pit’s success, noting that the upcoming processing campaign and Main Pit development will set the platform for “another excellent year.” The company’s strategic focus on cost-effective processing and phased development reflects a measured approach to growth in a competitive market.
Investors will be watching closely as Auric transitions from initial production to scaling operations, with the potential to enhance shareholder value through sustained gold output and operational efficiencies.
Bottom Line?
Auric’s solid start at Munda lays a promising foundation, but the real test will be scaling up production sustainably in 2026.
Questions in the middle?
- How will the final gold in circuit (GIC) figures impact reported revenue and production metrics?
- What are the detailed plans and timelines for the Munda Main Pit development?
- How will Auric manage operational risks and costs as it scales up processing volumes?
