Auric Mining Ltd (ASX:AWJ) has secured a strong first cash return from its Munda Gold Mine near Widgiemooltha, booking A$16.85 million in gold sales and net cash of A$10.82 million from the initial starter pit processing campaign.
The result follows final reconciliation of “Campaign One” ore treated through Black Cat Syndicate Ltd’s Lakewood Mill in Kalgoorlie, which processed 57,900 dry tonnes at a reconciled head grade of 1.61 g/t gold and achieved mill recovery of 90.67%. Auric sold 2,718 ounces of gold at an average realised price of A$6,200 per ounce.
After milling, haulage and royalty charges of about A$6.03 million, Auric received A$10.82 million in cash, leaving the company with roughly A$9 million at bank and demonstrating the cash-generating potential of the Munda operation at current gold prices.
Managing director Mark English said the reconciliation underlined the strength of both the orebody and the company’s development strategy.
“The final reconciliation of Campaign One confirms an outstanding result for Auric.
“We produced 2,718 ounces and generated A$16.85 million in gross gold sales, with A$10.82 million received after milling, haulage and royalty costs.
“The strong gold price, combined with solid performances at Munda and Lakewood, has delivered exceptional early returns from our Munda gold mine.
“These results reinforce the quality of the Munda orebody and validate our development strategy as we prepare for campaign two milling in January 2026,” English said.
Second campaign locked in as Auric eyes Munda Main Pit
Mine engineering group MineComp has since refined the Starter Pit design to capture additional ore at the base of the pit based on ongoing grade control drilling. Mining of the Starter Pit is now expected to be completed in late December or early January.
Auric has already secured capacity for a second processing campaign at Lakewood Mill, scheduled to begin in mid-January 2026, which is expected to provide continuity of cash flow into the March quarter.
Once the second campaign is complete, the company plans to progress detailed design, scheduling and economic work for the larger Munda Main Pit, which it views as the next step in building Auric into a sustainable mid-tier Western Australian gold producer. Auric’s toll-treatment partnership with Black Cat is expected to remain a key, capital-light route for monetising Munda ore while accelerating cash generation.