Auric Mining Ltd Reports Exceptional Munda Starter Pit Results
Key points
- Munda Starter Pit produced 8,886 ounces, 46% above budget
- Burbanks processing plant evaluation progressing, central to Auric's strategy
- Jeffreys Find joint venture concluded with $16.5M cash return to Auric
Full summary
Auric Mining Limited (ASX: AWJ) reported on its activities during the March 2026 quarter, which the company described as the most successful in its history. The Munda Starter Pit produced 8,886 ounces, 46% above the original reserve estimate, with Campaign Two delivering 6,168 ounces at a reconciled head grade of 3.18g/t, well above budget. The results have given Auric confidence in the scale of the Munda Main Pit and the company has commenced detailed planning for its development. The Jeffreys Find Gold Mine joint venture also concluded during the quarter, with Auric receiving a final cash distribution of $2.2 million, bringing the total cash received from the project to approximately $16.5 million. Auric's cash position, including a sole debtor from Black Cat Syndicate, totalled $46 million at the end of the quarter, with the company having no debt and being unhedged. The company also continued technical evaluation of the Burbanks Gold Processing Plant, which remains central to Auric's strategy to become a fully integrated gold producer.
Outlook
With a strong balance sheet, increasing production profile, and exposure to a favourable gold price environment, Auric is well positioned for continued growth.
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