Auric Mining's ($AWJ) Path to Standalone Gold Production
SmallCap Asia | 亚洲小盘股 Sep 22, 2026 25:44
Summary
Auric Mining plans to rebuild the Burbanks processing hub into a 600,000-tonne-per-annum standalone gold plant in Western Australia.
A scoping study shows 141,000 ounces at an AISC (All-In Sustaining Cost — what it really costs to produce an ounce) of $2,843 per ounce.
The Munda starter pit produced 46% more gold than budgeted, lifting the resource to 194,000 ounces open at depth and strike.
Construction targets 2027 with first gold in early 2028, backed by $38 million cash and no debt; peak funding need is $145 million.
The shift to owner-operator processing addresses a scarcity of third-party milling capacity in the Kalgoorlie goldfields.
Gareth Solly's takeaways
- Top takeaway Speaker argues building Auric's own Burbank's plant is a 'no-brainer' because there is a real scarcity of available milling capacity in the Kalgoorlie goldfields, and projects the rebuilt mill could operate for 40 years like the prior one
- Bullish on gold price: notes current price near A$6,200-6,250/oz, recent Munda starter-pit gold sales earlier in 2026 near A$7,200/oz, and argues the trend remains the company's friend with prices likely trending higher
- States acquisition criteria stay the same under his leadership: targets that can be quickly converted to cash-flowing mines, with smaller regional assets available because bigger players focus on larger projects
- Lays out catalysts over the next 12 months from the as-of date: ongoing resource drilling at Munda, first ore reserves expected within a couple of months, all approvals targeted for Q1 2027, and possible timeline acceleration of a few months on the construction phase