Auric Mining Accelerates Growth with Gareth Solly CEO Appointment

Leadership Upgrade to Drive Production Ambitions

Auric Mining Limited (ASX:AWJ) has taken a decisive step to sharpen its operational focus by appointing Gareth Solly as Chief Executive Officer effective 18 May 2026. Solly, a seasoned Western Australian gold sector executive, will transition to Managing Director on 1 December 2026, succeeding founding MD Mark English who will remain on the board as Executive and Finance Director. This dual-leadership arrangement aims to balance fresh strategic momentum with continuity in financial stewardship.

Solly’s credentials are impressive: he transformed Black Cat Syndicate from a modest $6 million exploration IPO into a multi-asset gold producer churning out around 100,000 ounces annually with a 2.5 million ounce resource base. His hands-on experience in acquiring and refurbishing key gold operations like Paulsens and Lakewood aligns closely with Auric’s immediate priorities, particularly the development of the Burbanks Gold Plant and scaling production at the Munda Gold Mine.

Building on Recent Operational Momentum

The appointment comes on the heels of Auric’s recent operational successes, including a notable surge in gold output and financial performance. The company’s ongoing upgrade of the Burbanks processing facility and expansion at Munda are central to its strategy to reach 25,000–30,000 ounces of annual production by 2028. This trajectory was outlined in detail earlier this month when Auric set its sights on the Burbanks facility and Kalgoorlie expansion, underpinning the significance of Solly’s arrival to steer these ambitions.

Complementing Solly’s appointment is the recent hiring of Scott Bailey as Processing Lead, reinforcing Auric’s focus on building a self-sufficient mining operation. The leadership team now combines exploration, operational, and processing expertise, positioning Auric to execute its growth plans with greater confidence.

Executive Package Reflects Performance-Driven Growth

Solly’s remuneration package includes a $450,000 annual salary plus a $150,000 sign-on fee. More notably, his incentives are heavily weighted towards operational milestones and capital achievements, subject to shareholder approval later this year. These include options and performance rights linked to cumulative gold production thresholds ranging from 40,000 to 125,000 ounces, successful capital raising for the Burbanks facility, commissioning of the plant, resource definition milestones, and achieving a $200 million market capitalisation.

The structured incentive scheme underscores Auric’s commitment to aligning executive rewards with tangible value creation. It also signals confidence in Solly’s ability to replicate his previous success in navigating the complexities of mining startups and expansions.

Market Signals and Strategic Implications

Chairman Steven Morris emphasised that Solly’s appointment is the culmination of a deliberate strategy to transition Auric from a junior explorer to a sustainable gold producer with disciplined capital management. Given Solly’s deep connections within the Western Australian mining investment community, his leadership is expected to enhance Auric’s profile and credibility among investors.

Mark English, reflecting on the handover, described Solly’s mine-to-mill expertise as a blueprint for Auric’s future, highlighting the importance of building infrastructure alongside resource development. Solly himself expressed enthusiasm about leading Auric through the construction of its processing hub and unlocking the full value of its regional assets.

This leadership refresh arrives amid Auric’s strong financial footing and operational momentum, evidenced by recent production outperformance and cash generation. The company’s strategic focus on the Kalgoorlie region, including the Burbanks and Munda projects, is well documented, with Auric recently outlining ambitious production targets supported by asset acquisitions and facility upgrades.

Investors will be watching how Solly’s proven track record translates into Auric’s execution, especially as the company navigates the technical and capital challenges of commissioning the Burbanks plant and expanding gold output. This appointment is a clear signal that Auric is serious about scaling up and delivering on its promise to become a mid-tier gold producer in Western Australia.