Auric Mining's strategic advancement

Auric Mining (ASX:AWJ) has announced the establishment of an Ore Reserve for a Starter Pit at the Munda Gold Deposit. This milestone is a crucial step in the phased mining strategy planned for the Munda site. The ore reserve is calculated at 125,000 tonnes with a grade of 1.8g/t, translating to 7,400 ounces of gold. Operations are projected to last five months, with a gold price set at AUD $3,500 per ounce.

Auric Mining's strategic and financial outlook

Auric Mining has unveiled a new Ore Reserve for the Starter Pit at the Munda Gold Deposit, marking progress in its phased mining plan. The reserve is estimated at 125,000 tonnes with a gold grade of 1.8g/t, leading to 7,400 ounces of gold. Operations are expected to span five months, with an All-In Sustaining Cost of $2,635 per ounce. The project forecasts an undiscounted cash flow of $5.3 million. Using conventional open-pit methods, the ore will be processed off-site, with environmental and infrastructure considerations addressed. Auric anticipates securing necessary approvals, projecting full production by 2026. The initiative reflects Auric's strategic planning and commitment to sustainable mining practices.

Auric Mining executive insights

We are confident in the phased approach of the Munda project, which allows us to strategically advance and gain a greater understanding of the deposit before full-scale operations commence. This starter pit is a significant step towards achieving full production by 2026.