Auric Mining (ASX:AWJ) strikes again: Lindsay’s Gold Bet sets stage for production upswing

Auric Mining (ASX:AWJ) is proving that persistence pays off in the junior gold sector.

The company’s latest move—the acquisition of the Lindsay’s Project—signals its ambition to build a steady pipeline of production assets in the Goldfields region.

With a $4 million deal comprising cash and shares, Auric is angling to revive a project left dormant for over a decade.

The Resurrection of Parrot Feathers

Gold miners know that timing is everything, and for Auric, the timing couldn’t be better.

The Lindsay’s Project, located 50km northeast of Kalgoorlie, houses the partially mined Parrot Feathers deposit, which last produced gold in 2013.

Back then, the mine yielded 6,153 ounces at an average grade of 1.93g/t Au before operations were abandoned due to a slump in the gold price to $1,295 per ounce.

With gold now trading at significantly higher levels, Auric sees an opportunity where others once saw only risk.

“The Lindsay’s Project fits within our strategy of acquiring near-term gold production projects within trucking distance of mills in the Kalgoorlie area,” Auric Mining Managing Director Mark English said.

“This is an exciting opportunity to add to the gold ounces we control in the region.”

A Logical Addition to the Portfolio

The acquisition strengthens Auric’s presence in the region and could provide a natural next step after the company wraps up mining at its Munda Starter Pit.

Auric’s management believes Lindsay’s could deliver a new stream of gold production while they fine-tune plans for a larger pit at Munda.

“We are looking at re-directing our mining team to Lindsay’s after completing the Munda Starter Pit,” English said.

“This would afford us the opportunity to produce more ounces of gold whilst extensively planning a broader main pit at Munda, which is our flagship asset.”

The Commercial Edge

Lindsay’s Project consists of eight tenements covering 33 square kilometres, including three granted mining leases. More importantly, it presents an opportunity for near-term, low-cost mining via toll treatment.

With extensive infrastructure and processing options available in Kalgoorlie, Auric could be mining and selling gold within a relatively short time frame—provided due diligence confirms the economic viability of restarting operations.

The deal terms reflect the company’s confidence: an initial $100,000 non-refundable deposit grants Auric exclusive due diligence rights until April 3, 2025.

If all checks out, Auric will pay $2 million in cash and issue $2 million in shares (subject to shareholder approval), with staged escrow arrangements for the vendors.

More Than Just an Acquisition

Beyond the immediate mining potential, Lindsay’s offers exploration upside.

While the primary focus remains on fast-tracking production, Auric has hinted at conducting an assessment of the broader tenement package.

Given the history of high-grade discoveries in the Kalgoorlie district, the company could uncover further opportunities.

With gold prices at record highs and sentiment shifting back toward near-term producers, Auric’s move may prove prescient.

If Parrot Feathers delivers as hoped, the company could soon be adding more than just ounces to its tally—it could be building the foundations of a sustainable gold operation in Western Australia.

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