Auric Mining Upgrades Munda Gold Resource, Outperforms Production Expectations

Auric Mining Limited (ASX: AWJ) has made significant progress in its gold exploration and development operations. The company upgraded its Munda Gold Deposit Mineral Resource by 32% to 192,000 ounces of contained gold at 1.43g/t following the successful completion of the Munda Starter Pit.

The starter pit delivered mill-reconciled gold production of 8,886 ounces against a budgeted 6,100 ounces, representing a 46% outperformance. This production result exceeded pre-mining expectations and provided the company with empirical data to validate and refine its understanding of ore quality and extraction efficiency.

A scoping study released after quarter-end projects an integrated development plan for the Munda deposit and a new 600,000-tonne-per-annum processing plant at Burbanks. The study estimates an EBITDA of A$437 million from the integrated operation using a gold price assumption of A$5,750 per ounce.

The company has maintained a cash position of A$38 million, providing financial flexibility to fund ongoing development activities and exploration programs. Auric is also advancing mine design, process design, and financial modelling work supporting the scoping study.