Auric Mining has reported exceptional gold production from its Munda Starter Pit, delivering 8,475 ounces to date; significantly exceeding budget forecasts and confirming the site’s substantial resource potential.
- Total gold production of 8,475 ounces from Munda Starter Pit
- Campaign Two outturns outperform budget by nearly 40%
- A$41 million in combined cash, bullion, and investments
- Ore processed cost-effectively via Black Cat Syndicate’s Lakewood Mill
- Plans underway for expanded Munda Main Pit development
Strong Production Performance
Auric Mining Limited (ASX:AWJ) has delivered a striking update on its Munda Starter Pit gold production, reporting a total of 8,475 ounces produced to date. This figure notably surpasses the original budget of 6,100 ounces by nearly 40%, underscoring the robustness of the Munda resource and the effectiveness of Auric’s operational strategy.
The latest results come from the fourth and final gold outturn of Campaign Two, which alone yielded 938 ounces. Combined with previous outturns, Campaign Two has produced 5,757 ounces, adding to the 2,718 ounces from Campaign One. These successive outturns have consistently outperformed grade expectations, reinforcing confidence in the mine’s economic potential.
Financial Strength and Operational Efficiency
As of 7 March 2026, Auric holds a strong financial position with A$41.0 million in cash, bullion, and listed investments. The company’s metal account at ABC Refinery contains 4,210 ounces of gold and 343 ounces of silver, with management exercising prudent discretion over the timing of sales amid fluctuating gold prices.
Operationally, Auric benefits from a cost-effective ore processing arrangement with Black Cat Syndicate Ltd, utilising the Lakewood Mill. This partnership has enabled Auric to monetise its Starter Pit ore efficiently, generating near-term cash flow while positioning the company for sustainable growth.
Looking Ahead: Expansion Plans
The exceptional performance of the Starter Pit has provided Auric with valuable insights into the Munda orebody, informing resource estimation, mining techniques, and processing methods. With the reconciliation of gold recovered from the campaigns underway, the company is preparing to commence detailed scoping and planning for the larger Munda Main Pit.
This development represents a significant opportunity to scale production and advance Auric’s ambition to become an integrated, sustainable gold producer. The company’s Managing Director, Mark English, expressed optimism about deploying capital astutely to expand operations and enhance shareholder value.
Bottom Line?
Auric’s standout Munda results set the stage for a pivotal expansion phase that could reshape its production profile.
Questions in the middle?
- How will the final Gold In Circuit (GIC) calculation impact total production figures?
- What timeline and capital requirements will the Munda Main Pit development entail?
- How might fluctuating gold prices influence Auric’s sales strategy and cash flow management?