Can Auric Sustain Cash Flow Momentum Beyond Munda Starter Pit Success?
Auric Mining has reported strong financial and production results from its inaugural gold processing campaign at the Munda Starter Pit, generating A$16.85 million in sales and netting over A$10.8 million after costs. The company is gearing up for a second campaign in January 2026 as it advances plans for a major expansion.
- A$16.85 million gross gold sales from initial Munda Starter Pit campaign
- Net cash of A$10.82 million after milling, haulage, and royalty costs
- 2,718 ounces of gold produced at 90.67% mill recovery from 57,900 dry tonnes
- Second processing campaign scheduled for mid-January 2026 at Lakewood Mill
- Planning underway for Munda Main Pit development to scale production
Strong Start at Munda
Auric Mining Limited has delivered an impressive financial and operational performance from its first gold processing campaign at the Munda Starter Pit. The campaign, which concluded with a formal reconciliation in November 2025, produced 2,718 ounces of gold from 57,900 dry tonnes of ore, achieving a mill recovery rate of 90.67%. This translated into gross gold sales of A$16.85 million, with Auric retaining a net cash inflow of A$10.82 million after deducting milling, haulage, and royalty expenses.
The average realised gold price of A$6,200 per ounce played a significant role in boosting revenues, while efficient cost management ensured margins exceeded initial budgets. Auric’s Managing Director, Mark English, highlighted the results as a validation of the Munda orebody’s quality and the company’s development strategy, setting a positive tone for future campaigns.
Momentum Into 2026
Building on this success, Auric has secured a second processing campaign at the Lakewood Mill, scheduled to commence in mid-January 2026. This continuity is critical for maintaining production momentum and cash flow generation as the company moves into the new year. The ongoing partnership with Black Cat Syndicate for processing remains a cost-effective and flexible arrangement, minimising capital expenditure while maximising operational efficiency.
Meanwhile, Kalgoorlie-based MineComp has optimized the Starter Pit design to capture additional ore at the pit’s base, extending mining operations into late December or early January. This adjustment reflects Auric’s proactive approach to grade control and resource optimisation.
Looking Ahead – The Munda Main Pit
With the Starter Pit campaign nearing completion, Auric is turning its focus to the Munda Main Pit, which represents a significant expansion opportunity. Detailed design, scheduling, and economic studies are planned to commence in the first quarter of 2026. Success here could elevate Auric to a sustainable mid-tier gold producer status within Western Australia’s competitive mining landscape.
The company’s ability to generate substantial cash flow early in its production cycle bodes well for funding this next phase without excessive capital dilution. However, as with all mining ventures, future performance will depend on maintaining ore grade consistency, managing costs, and navigating gold price volatility.
Bottom Line?
Auric’s robust start at Munda sets the stage for growth, but sustaining momentum will be key as it targets a major expansion in 2026.
Questions in the middle?
- How will Auric manage operational risks as it scales up to the Munda Main Pit?
- What impact could fluctuating gold prices have on Auric’s near-term cash flow?
- Will the partnership with Black Cat Syndicate continue to support cost-effective processing long term?
