Auric Mining has exceeded its 2026 gold production budgets at the Munda Starter Pit, delivering strong early results that validate the economic potential of the larger Munda Main Pit.
- 7,537 ounces of gold produced to date in 2026 campaigns
- Gold grades and recoveries at Lakewood Mill surpass budget expectations
- 3,272 ounces held in metal account at ABC Refinery
- Cash, bullion, and investments total A$34 million
- Planning underway for Munda Main Pit development
Robust Production Outturns
Auric Mining Limited (ASX: AWJ) has reported outstanding gold production results from its 2026 campaigns at the Munda Starter Pit, with total ounces produced so far significantly exceeding initial budgets. The company has achieved 7,537 ounces of gold production across two campaigns processed at Black Cat Syndicate’s Lakewood Mill, with the second campaign alone delivering 3,672 ounces, well above expectations.
Managing Director Mark English highlighted the encouraging trend of improving gold grades and recoveries throughout the second campaign, underscoring the operational efficiency and ore quality. The processing of approximately 68,500 dry metric tonnes in the latest campaign slightly exceeded budgeted tonnage, further contributing to the strong output.
Financial Position and Asset Holdings
In addition to production success, Auric has established a metal account at ABC Refinery, currently holding 3,272 ounces of gold and 315 ounces of silver. The company’s combined cash, bullion, and listed investments stand at a healthy A$34 million, providing a solid financial foundation to support ongoing operations and future growth initiatives.
Non-Executive Chairman Steve Morris emphasised the company’s strategic focus on acquiring high-quality, infrastructure-proximate gold assets that can be rapidly developed. The early success at Munda validates this approach and bolsters confidence in the project’s long-term value proposition.
Looking Ahead: Munda Main Pit Development
The encouraging results from the Starter Pit are not just a short-term win; they provide critical insights into the Munda orebody’s characteristics, informing mining and processing strategies. Auric plans to leverage this data to commence detailed scoping and planning for the Munda Main Pit, which represents a significant opportunity to scale production and enhance the company’s profile as an integrated gold producer.
While forward-looking statements carry inherent uncertainties, the current trajectory suggests Auric is well-positioned to capitalise on the Munda project’s potential, delivering value to shareholders and contributing to the regional mining sector’s momentum.
Bottom Line?
Auric’s strong 2026 start at Munda sets a promising foundation, but the real test lies in translating this momentum into sustained, scalable production.
Questions in the middle?
- What are the detailed timelines and capital requirements for the Munda Main Pit development?
- How will fluctuating gold prices impact Auric’s sales strategy and revenue forecasts?
- Can Auric maintain or improve gold grades and recoveries as production scales?