Bulls N' Bears has covered Auric Mining's half-year result, reporting a $28 million net profit before tax for the six months to June, a turnaround from a $1.35 million loss in the prior corresponding period.

The result was driven by total revenue of $44.8 million and net operating cash flow of $33.8 million, generated primarily from the Munda Gold Mine near Widgiemooltha. Munda delivered 6,168oz of gold for the half, taking total Starter Pit production to 8,886oz at an all-in sustaining cost of A$2,857 per ounce, against a gold price holding above A$6,000 per ounce.

The article notes Auric now holds total assets of $62 million, a $38 million cash balance, no debt and an unhedged position to the gold price, positioning the company to pursue its ambition of becoming a fully integrated mine-to-mill gold producer through the 100% owned Burbanks processing plant.

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