Auric Mining Ltd (ASX:AWJ) is edging closer to near-term gold cashflows, with mining and haulage now under way at its Munda Gold Mine and toll treatment scheduled to begin later this month.
In an operational update released on Wednesday, Auric said it had built up about 67,000 tonnes of high-grade ore on run-of-mine (ROM) stockpiles at Munda as of December 31, 2025, providing the foundation for its next toll processing campaign.
Mining operations at Munda have continued into January following a brief pause, with ore haulage to the Lakewood Mill commencing on January 10. Auric expects toll processing to begin around January 27, with first cash receipts from gold sales forecast for late February.
Munda Starter Pit: December 2025.
Stockpiles underpin near-term production
The accumulated ROM inventory is expected to support the upcoming processing run and position Auric for its first gold production of 2026.
Material is being transported to the Lakewood Mill operated by Black Cat Syndicate Ltd (ASX:BC8), where Auric has secured toll treatment arrangements. The company said the restart of mining and haulage marks a key transition from site preparation into execution of its toll milling strategy.
Managing director Mark English said the campaign reflects steady progress towards generating cashflow from Munda.
“The restart of mining at Munda and the commencement of haulage marks an important step forward for Auric as we move into the next phase of our toll processing strategy,” English said.
“With ore already stockpiled on the ROM and processing scheduled to begin later this month, we are now firmly focused on delivering our first cashflows for 2026,” he added.
Cashflow expected in February
Based on current timelines, Auric expects to receive its first proceeds from gold sales in late February, subject to processing and recovery outcomes.
English noted that prevailing gold prices could amplify the impact of the campaign for a company of Auric’s size, while also reinforcing the broader development case for the Munda asset.
“Given the current gold price, we expect the cash inflow to be substantial for a company of Auric’s size,” he said.
“This campaign continues to validate Munda as a high-quality gold asset capable of generating near-term value while we progress planning for the larger Munda Main Pit.”
Auric has previously highlighted Munda as a stepping-stone project, using toll treatment to generate early cash while advancing studies and approvals for a more extensive open-pit operation.
Read more: Auric Mining banks strong first cash returns from Munda Gold Mine
Building momentum at Munda
The company said it remains focused on maintaining operational momentum through the current mining and processing window, while continuing work on longer-term development options at Munda.
Planning for the larger Munda Main Pit is ongoing, with Auric aiming to transition from short-term toll milling campaigns into a more sustainable production profile over time.
“This campaign continues to validate Munda as a high-quality gold asset capable of generating near-term value while we progress planning for the larger Munda Main Pit,” English said. “Auric is well positioned to build on this momentum and transition further into a sustainable gold producer.”