Auric Mining has struck gold in spectacular fashion, with its inaugural mining campaign at the Munda project near Widgiemooltha in Western Australia delivering a multimillion-dollar cash injection and setting the stage for significant growth.
Stellar First Campaign Exceeds Expectations
The company's first processing run from the Munda starter pit has concluded with outstanding financial results. Auric sold 2718 ounces of gold for total revenue of $16.85 million. After accounting for all costs, the operation banked a substantial $10.82 million in free cashflow.
This result significantly outperformed initial market forecasts. The campaign, which wrapped up in mid-November 2025, involved trucking 57,900 tonnes of ore to the Lakewood Mill in Kalgoorlie, operated by Black Cat Syndicate. The ore processed at a solid head grade of 1.61 grams per tonne (g/t) gold, with the mill achieving an excellent 90.67% recovery rate.
Adding to the success, Auric secured an average sales price of $6200 per ounce, benefiting from strong gold markets and what the company describes as an efficient toll-treating partnership. With all-in sustaining costs calculated at a lean $2635 an ounce, the operation's robust margin has firmly placed Auric on the map as a new, high-margin gold producer in WA.
Building Momentum for Future Growth
The initial success is just the beginning. Auric has already lined up its second milling campaign at the Lakewood facility for mid-January 2026. This run will process an estimated 65,000 tonnes of ore, with the potential to yield up to 3382 ounces of gold.
Following this, the company will turn its attention to the larger prize: the Munda Main Pit. Work will commence on detailed design, scheduling, and economic analysis. Using a 0.5g/t gold cut-off, the Main Pit hosts a resource of 3.65 million tonnes at 1.23g/t gold for 145,000 ounces.
Given the current strong gold price, which is trading above A$6000 per ounce, consultant MineComp has indicated that using a lower cut-off grade of 0.2g/t could swell the resource to approximately 189,000 ounces of gold.
Strategic Acquisitions for Long-Term Production
Beyond Munda, Auric is actively building a foundation for sustained operations. In a strategic move last September, the company acquired the historic Burbanks gold processing plant south of Coolgardie for $4.4 million.
The plant, a carbon-in-leach (CIL) facility with a 180,000-tonne-per-annum capacity, has been idle since 2019. Auric plans to refurbish and potentially expand the plant, which sits within trucking distance of its resources. This acquisition provides a future pathway for third-party toll treatment or processing its own ore.
Furthermore, Auric recently secured the Lindsay's gold project near Gindalbie, 60 kilometres northeast of Kalgoorlie. This includes the Parrot Feathers open pit, a partially mined asset that offers a 'mining-ready' opportunity to leverage existing infrastructure.
Auric Mining managing director Mark English said the results from the first campaign validated the company's development strategy. "The final reconciliation of campaign one confirms an outstanding result for Auric," English stated. "These results reinforce the quality of the Munda orebody as we prepare for campaign two."
With a successful start, a clear pipeline of near-term processing campaigns, and strategic assets now under its belt, Auric Mining is positioning itself as a rising force in the Western Australian gold sector, poised to capitalise on favourable market conditions.
