Auric Mining (ASX:AWJ) fast tracks transformation into integrated gold producer

Auric Mining (ASX:AWJ) is laying the groundwork for a major transition from junior gold explorer to integrated producer, underpinned by the recent acquisition of two strategic assets the Burbanks Gold Facility and the Lindsay’s Project.

In a detailed conversation with Managing Director Mark English, the company outlined how the proceeds from its recently completed placement will be used to accelerate development, secure infrastructure, and expand exploration across its Western Australian tenements.

Acquisitions to reshape the business

According to English, the capital raised will be applied immediately to settle the acquisitions, which form the basis of the company’s long-term growth strategy.

“The capital raised will immediately be applied to settle the acquisition of two pivotal assets – the Burbanks Gold Facility and Lindsay’s Project,” he said. “Together, these form the foundation of our short and long-term growth strategy.”

Auric also intends to increase drilling activity across several high-potential targets, including the Loded Dog and Spargoville prospects.

“These are important exploration areas for us, and the additional funding gives us flexibility to pursue upside beyond near-term production,” English added.

Burbanks: Control over processing

The acquisition of the Burbanks Gold Facility represents a step-change in Auric’s operational capability.

Unlike many juniors reliant on third-party processing, Auric Mining will gain control of its own treatment pathway, reducing exposure to toll milling constraints.

“Burbanks gives us what most junior miners lack – control over our processing,” English explained.

“With Burbanks, we’re removing reliance on external toll treatment providers and future-proofing our business model.”

The facility is well supported by existing infrastructure, including power, water access, granted mining leases and approvals.

Over the next two years, Auric will undertake technical and feasibility assessments to determine the path forward, with commissioning targeted for 2028.

Lindsay’s to follow Munda

Lindsay’s Project is expected to come online following the completion of mining at Auric’s current focus, the Munda Starter Pit.

A new resource model for Lindsay’s will be published in parallel with settlement, which is expected in the third quarter of 2025.

“Once the mining of the Munda Starter Pit is completed, it’s our plan to redeploy people and plant to Lindsay’s,” English said.

Initial operations will target the Parrot Feathers Gold Mine, a previously developed area where only a quarter of the original pit was mined.

Auric plans to begin mining in the first quarter of 2026, with ore to be toll treated at first before transitioning to in-house processing once Burbanks is operational.

Strong gold price strengthens outlook

The current gold price environment hovering around A$5,200 per ounce is having a meaningful impact on project economics across Auric’s portfolio.

English said the favourable conditions provide an opportunity to generate strong near-term cash flow and reinvest without adding debt.

“The gold price… fundamentally enhances project economics across the board,” he said. “Our Munda Starter Pit alone is forecast to yield strong returns at current prices.”

He added that ongoing production from Jeffreys Find will also help generate surplus cash, contributing to infrastructure upgrades and further development work.

“This environment allows us to accelerate production, generate surplus cash… and reinvest into growth – all without needing to take on long term debt,” he said.

Institutional support underlines confidence

The placement was well supported, drawing participation from both existing shareholders and new investors.

Notably, three specialist resource funds joined the register, including the Lowell Resources Fund.

English said the strong demand reflected recognition of Auric’s strategy to shift from small-scale miner to a fully integrated regional player.

“Investors – both long-term and new – see our growth model clearly: proven low-cost production, high-grade assets, strategic infrastructure acquisitions and strong gold market tailwinds.”

He added that institutional support signals a broader endorsement of Auric’s direction and development pathway.

“The addition of three specialist funds, including the Lowell Resources Fund, reflects institutional confidence in our transition from junior gold miner to integrated regional producer.”

Looking ahead

Auric’s focus now turns to execution completing its acquisitions, maintaining momentum at Munda, and finalising plans for in-house processing at Burbanks.

The ability to control both resource development and treatment gives the company optionality and scale, positioning it to take advantage of sustained strength in the gold market.

As English sees it, this marks a clear evolution for the company: “We’re moving from being a junior explorer to becoming a self-reliant gold producer with multiple levers for growth.”

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