Auric Mining Appoints Industry Veteran to Accelerate Burbanks Gold Plant Development
In a strategic move to advance its transition into a self-sufficient gold producer, Auric Mining has secured the expertise of a seasoned industry professional to oversee the construction of its Burbanks processing facility. The company has appointed Scott Bailey as the new processing lead, tasked with spearheading the development of the gold mill located just 11 kilometres south of Coolgardie in Western Australia.
Scott Bailey's Extensive Experience in Gold Processing
Scott Bailey brings a wealth of hands-on experience in Western Australian gold processing to Auric Mining. His most recent role was as corporate group processing manager at Black Cat Syndicate, where he played a pivotal role in the acquisition and successful recommissioning of the Lakewood processing plant near Kalgoorlie. Bailey also contributed to the ahead-of-schedule restart of Paulsen's gold mine and held senior positions at Westgold Resources and KCGM, making him a highly regarded figure in the industry.
Strategic Importance of the Burbanks Facility
The appointment of Bailey signals Auric Mining's intent to expedite the operational timeline for the Burbanks processing plant. By owning its own infrastructure, the company aims to overcome challenges associated with diminishing third-party toll milling opportunities and gain full control over its gold production and cash flow. Auric Mining chairman Steve Morris emphasized that developing Burbanks is a critical component of the company's transition to a fully integrated gold producer, highlighting the importance of assembling a capable team to deliver the facility.
Recent Operational Successes and Financial Strength
Auric Mining is currently experiencing a wave of operational achievements. The company completed production from its Munda gold mine Starter Pit near Widgiemooltha ahead of expectations, with two processing runs at Black Cat's Lakewood mill yielding 8,886 ounces of gold—46 percent above budget—and sales at an average price of A$7,178 per ounce. Additionally, the final toll treatment run from the Jeffreys Find mine near Norseman, in partnership with BML Ventures, concluded successfully, delivering A$16.5 million in cash distributions from an initial outlay of just A$1.2 million.
These successes have bolstered Auric Mining's financial position, with the company now holding A$43 million in cash, bullion, and listed investments, plus an anticipated GST refund. This strong financial foundation supports future projects, including the flagship Munda Main Pit gold project, which has a current resource of 3.65 million tonnes grading 1.23 grams per tonne for 145,000 ounces. The company believes this deposit may be larger and higher-grade than previously estimated, paving the way for a resource upgrade later in the year.
Expanding Exploration and Future Plans
Auric Mining's exploration pipeline has been further enhanced with the recent acquisition of the Lindsay's gold project, 60 kilometres northeast of Kalgoorlie. The site features the Parrot Feathers open pit, which was only lightly mined for 6,153 ounces before operations ceased in 2013, leaving approximately 75 percent of the resource untapped and ripe for development.
With Scott Bailey at the helm of the processing division, Auric Mining's next steps involve finalizing design, construction, and engineering work, as well as securing regulatory approvals to revive the Burbanks mill. The company is also evaluating options to increase the plant's processing capacity to 500,000 tonnes per annum or more. As development progresses through planning and into active construction, stakeholders can expect regular updates, positioning Auric Mining to evolve from a developer into a fully integrated mining house.
By bringing in a specialist with deep knowledge of the Burbanks site and the Western Australian gold landscape, Auric Mining has taken a savvy step toward a promising future in gold production.
