Auric Mining is completing a final toll milling campaign at its Jeffreys Find gold mine in Western Australia, producing approximately 2,750 ounces of gold and generating up to $9 million in surplus cash, with Auric's share expected to be between $4 million and $4.5 million.

The success from Jeffreys Find and Munda is funding Auric’s expansion, including acquiring the Burbanks processing plant, leases near Westgold’s Higginsville, and the Lindsay’s gold project, signaling its shift towards becoming a self-sufficient gold producer.

Auric plans to replicate its Jeffreys Find toll treating success at its larger Munda gold project, which has a resource of 3.65 million tonnes grading 1.23 g/t gold for 145,000 ounces, aiming to produce at least 6,100 ounces from a starter pit.

Auric’s joint venture with BML Ventures has been financially beneficial, with the company invoicing $3.6 million for interim distributions and planning for final accounting next quarter, plans it intends to replicate at Munda.

The Munda project has secured a toll treatment agreement with Black Cat Syndicate, which will process ore at its Lakewood mill in Kalgoorlie, taking advantage of regional under-capacity and high gold prices, with expected revenue over $28 million.

Black Cat Syndicate’s Lakewood mill currently has spare capacity, making it an ideal processing partner for Munda’s ore, which is part of one of the largest undeveloped gold resources in the Kalgoorlie region.

Auric plans to deliver 40,000 tonnes of ore from Munda starting in September, with additional processing campaigns through early next year, aiming to generate over $28 million in revenue at current gold prices.

With gold prices nearly double the estimates from its 2023 scoping study, Auric’s potential profits from Munda could be significantly higher, supporting its growth ambitions in the Kalgoorlie region.

The 2023 scoping study projected $76.9 million in surplus cash from Munda’s main pit at a $2,600 per ounce gold price; with current prices nearly doubled, Auric’s financial outlook is markedly improved.

Auric’s ore from Jeffreys Find is processed at Focus Minerals’ Three Mile Hill mill in Coolgardie, marking the end of its successful joint venture with BML Ventures, which has contributed significantly to its financial growth.