Auric Unveils $145m Goldfields Plan
Auric Mining has outlined its plans to become an integrated gold producer in Western Australia's Goldfields region. The company completed its integrated Scoping Study, which evaluates open-pit mining at the Munda Gold Project and the re-establishment of the Burbanks processing facility.
Under the base case, using a gold price of $5,750 per ounce, the project is estimated to generate $812 million in life-of-mine revenue and $437 million in undiscounted earnings before interest, taxes, depreciation, and amortisation. The study estimates an all-in sustaining cost of $2,843 per ounce over an initial 56-month operating period.
Peak funding is estimated at $145 million, with a payback period of 2.3 years. The operation will mine 2.77 million tonnes of mineralised material at an average grade of 1.75 grams per tonne gold over 32 months, containing approximately 155,844 ounces.
Auric plans to transport the material to Burbanks, where it will be processed in a new facility with a nominal capacity of 600,000 tonnes per annum. The company notes that the design allows for potential expansion to 1.2 million tonnes per annum through additional milling and leach capacity.