Cash piles up as Auric smashes WA gold production targets
Brought to you by BULLS AND BEARS
James Pearson
While many young gold miners are struggling to quickly capitalize on the rising gold price, Auric Mining has taken a much more direct route; dig, process and count the ounces.
This strategy is paying off handsomely at the company’s Munda gold project near Widgiemooltha in Western Australia; Here recent gold leaks from the second mining campaign have yielded results far beyond expectations.
So far this year, Auric has produced 4,819 ounces of gold across three tolls in the second campaign; final production and gold in circulation still need to be calculated.
Added to the 2,718 ounces recovered during the first campaign in late 2025, total production to date from the initial pit at Munda now stands at a very healthy 7,537 ounces, comfortably ahead of the 6,100 ounce target set for the initial pit.
The market’s response was swift and decisive; Auric shares rose almost 25 percent to 34 cents today, thanks to strong early turnover.
After the first gold sales of the second campaign, Auric still holds 3,272 ounces of gold and 315 ounces of silver in its metals account at ABC Refinery, giving management flexibility on when to sell in what remains a strong gold price environment.
When we put it all together, the numbers start to look impressive for a company the size of Auric. The company is currently sitting on a massive $34 million investment in cash, bullion and exchange-traded shares, providing it with plenty of financial firepower to fund the next phase of growth without the usual small-cap financing stress.
During its second campaign, Auric processed 68,500 dry metric tons (slightly more than planned), with performance improving as the campaign progressed.
But what impressed most was the ore quality and recovery, which consistently exceeded targets after processing at Black Cat Syndicate’s Lakewood mill. Management says the results strengthen confidence that Auric’s biggest prize, the main pit, will mirror the mine life of the starter pit once it comes online.
Auric Mining managing director Mark English said: “Gold grade and recoveries have continued to improve over the course of this second campaign and while further yields and Golden Circuit (GIC) calculations are still to come, this is a good sign of outstanding results from our Munda Starting Pit.”
Non-executive chairman Steve Morris added that the company has focused from day one on acquiring proven, infrastructure-adjacent gold assets with rapid production capacity. Success at Jeffreys Find has paved the way for production on Munda, a project long seen as high quality and now validated with results well over budget.
An important takeaway from the initial pit results is that they provide real-world data on mining conditions, metallurgy and recoveries that will directly contribute to the planning of the much larger Munda main pit. Having processed more than 125,000 tonnes across two campaigns since October last year, Auric now has a robust operational data set to work from.
Once the mining and processing data reconciliation is complete, the company plans to move directly to detailed scoping and design work for the main pit.
As the gold flow continues, cash accumulates and confidence grows in the Main pit at Munda Auric, rapidly transitioning from a start-up pit success story to a reliable growth producer.
As scoping efforts at the Munda main pit intensify, the company now has the ounces, data and balance sheet to turn a strong start into a much larger gold opportunity.
Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au
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