Auric Mining Limited has reported a standout December quarter, delivering strong gold production and cashflow from its Munda Gold Mine while advancing key projects at Burbanks and Lindsay’s.
- Munda Gold Mine campaign one yields 2,718 ounces and A$10.82 million net cash
- Second processing campaign secured at Lakewood Mill, starting late January 2026
- Jeffreys Find Gold Mine enters closure after generating ~29,537 ounces and A$14.5 million
- Burbanks Gold Processing Plant acquisition progresses with technical evaluations underway
- Lindsay’s Gold Project settlement completed on four tenements, legal proceedings ongoing
Strong Quarter at Munda Gold Mine
Auric Mining Limited (ASX, AWJ) has delivered an exceptional operational and financial performance for the December 2025 quarter, highlighted by the successful completion of the first production campaign at its flagship Munda Gold Mine. The campaign produced 2,718 ounces of gold from 57,900 dry tonnes milled, generating A$16.85 million in gross sales and netting A$10.82 million in cash after milling, haulage, and royalty expenses. These results significantly exceeded internal forecasts, bolstering Auric’s financial position and confidence in the mine’s broader potential.
Mining operations at Munda’s Starter Pit continued through the quarter, with approximately 67,000 tonnes of high-grade ore stockpiled on the ROM pad in preparation for the second processing campaign. This next phase, comprising around 65,000 tonnes, is scheduled to commence processing at Black Cat Syndicate Ltd’s Lakewood Mill in late January 2026, continuing the momentum established in campaign one.
Transitioning to Larger Scale Operations
The strong metallurgical performance and grade control drilling during campaign one have provided Auric with valuable geological and operational data. This information is now being used to refine resource models and design the larger Munda Main Pit, which is expected to become the core of Auric’s production profile in the coming years. Detailed planning and permitting for the Main Pit are anticipated to progress throughout 2026, marking a significant step toward scaling up production.
Jeffreys Find Gold Mine Closure and Legacy
Meanwhile, Auric’s joint venture partner BML Ventures Pty Ltd completed rehabilitation activities at the Jeffreys Find Gold Mine during the quarter, marking the closure phase of this project. Over its operational life, Jeffreys Find contributed approximately 29,537 ounces of gold and generated around A$14.5 million in cashflow for Auric. The final project reconciliation is expected in the first quarter of 2026, closing a chapter that has provided a solid financial foundation for the company.
Strategic Asset Development, Burbanks and Lindsay’s
Auric is also advancing its strategic capacity through the acquisition and evaluation of the Burbanks Gold Processing Plant, a fully permitted facility with a 180,000 tonnes per annum capacity located near Coolgardie. Technical and engineering assessments are underway to explore refurbishment and expansion options, positioning Auric for integrated mining and processing operations.
In parallel, Auric completed settlement on four tenements at the Lindsay’s Gold Project, with ongoing Wardens Court litigation affecting some tenements. The company has assumed legal management for tenement M27/169 and remains committed to further payments contingent on successful litigation outcomes. This acquisition expands Auric’s footprint in a highly prospective gold region and complements its existing projects.
Financial Position and Outlook
At quarter end, Auric held A$6.7 million in cash and investments, maintained a debt-free balance sheet, and had 187 million shares on issue. The company remains unhedged, fully exposed to the prevailing gold price environment, which has been favourable during the quarter. Managing Director Mark English emphasised the company’s strong operational execution and strategic positioning, setting the stage for growth in 2026 and beyond.
Bottom Line?
Auric’s robust quarter at Munda and strategic project advances set a promising foundation, but upcoming legal outcomes and Main Pit development will be critical to watch.
Questions in the middle?
- How will the resolution of Wardens Court litigation impact Auric’s control and development of Lindsay’s tenements?
- What are the timelines and capital requirements for transitioning from the Starter Pit to the larger Munda Main Pit operation?
- How might the refurbishment and potential expansion of the Burbanks processing plant influence Auric’s production capacity and cost structure?