Golden Finish for Jeffreys Find as Auric Banks Final $2.2M
| Stock | Auric Mining Ltd (AWJ.ASX) |
|---|---|
| Release Time | 12 Mar 2026, 8:25 a.m. |
| Price Sensitive | Yes |
Auric Banks Final $2.2M from Jeffreys Find Gold Mine
- Auric receives final $2.2 million cash surplus distribution from Jeffreys Find Gold Mine
- Total cash share of $16.5 million (ex GST) from 50:50 JV with BML Ventures
- 29,534 ounces of gold produced and sold at average of $3,763 per ounce
Auric Mining Limited (ASX: AWJ) has received the final $2.2 million cash distribution from its 50:50 joint venture with BML Ventures Pty Ltd at the Jeffreys Find Gold Mine near Norseman, Western Australia. Since mining commenced in May 2023, the project has produced 29,534 ounces of gold, which were sold to the Perth Mint at an average realised price of $3,763 per ounce, generating total gold sales revenue of $82 million (ex GST). Under the joint venture agreement, BML Ventures funded and managed all mining, haulage, processing and associated operating costs, with the remaining surplus cash proceeds distributed equally between Auric and BML Ventures. Auric has now received total cash distributions of approximately $16.5 million (ex GST) from the Jeffreys Find joint venture, which has significantly strengthened the company's financial position and supported the development of its Munda Gold Mine, where Auric has recently completed its Starter Pit mining campaign.
Auric's total combined value of Cash (ex GST), Bullion and Listed Investments, as at 11 March 2026, totals $43.0 million.