Final Milling 60,000 Tonnes of Jeffreys Find Ore Commenced
Released
Released
Announcement PDF
ANNOUNCEMENT TO THE AUSTRALIAN SECURITIES EXCHANGE
9 JULY 2025
Jeffreys Find Gold Mine
Final Toll Milling Commenced
Highlights
•
Processing has commenced today at Three Mile Hill Mill for the last parcel of
Jeffreys Find ore.
•
Target of 2,750 ounces of gold to be sold from this final milling campaign.
•
Auric has invoiced BML Ventures $3.6 million as further interim cash surplus
distribution.
•
This $3.6 million is to be paid by BML Ventures to Auric in July and August.
•
Final accounting and cash distribution expected in October 2025.
Management Comment
Managing Director, Mark English, said: “We expect processing of the last ore
from Jeffreys Find Project to be completed at the Three Mile Hill Mill at Coolgardie in
around three weeks’ time.
“It will be the Project’s last toll milling campaign, with circa 60,000 tonnes going
through the mill.
“The target is to produce 2,750 ounces. That would be an impressive result, and see
the total ounces mined and sold from Jeffreys Find exceeding 30,000 ounces.
“This will be a bumper final payday from the Project. Particularly as most mining costs
have already been paid. We expect we will receive around $4.0 million being our
share of surplus cash that will be generated from this campaign.
“Auric will bank more than $17 million in total from its profit share of the mining at
Jeffreys Find. This has been a game changer for us as we transition to becoming a
gold producer in our own right. These additional funds will principally be used to
support the operations already underway at Munda,” said Mr English
Auric Mining Limited
ACN 635 470 843
Level 1, 1 Tully Road, East Perth WA 6004
PO Box 1057, Joondalup DC WA 6919
info@auricmining.com.au
08 9548 9997
auricmining.com.au
ASX: AWJ
ANNOUNCEMENT TO THE AUSTRALIAN SECURITIES EXCHANGE
9 JULY 2025
Photo 1: The Jeffreys Find Gold Mine near Norseman.
The Announcement
Auric Mining Limited (ASX: AWJ) (Auric or the Company) is pleased to advise that
the last toll milling campaign of its inaugural Jeffreys Find Joint Venture project has
commenced at Three Mile Hill Mill at Coolgardie, Western Australia.
The final, approximately 60,000 tonnes of ore is being hauled from Jeffreys Find near
Norseman, WA, to Three Mile Hill Mill. As at 30 June 2025 more than 52,000 tonnes of
ore was already at the mill.
This campaign will be the last of the Joint Venture for the Jeffreys Find Project, with
this milling expected to be completed by the end of July 2025 for a target 2,750
ounces. Total ounces sold from Jeffreys Find since commencement is due to exceed
30,000 ounces.
There is an expectation of about $7.5 million to $9.0 million total surplus cash being
generated from this final milling and gold sales campaign. This surplus will be split
50:50 with joint venture partner BML Ventures Pty Ltd (BML or BML Ventures) of
Kalgoorlie. The expectation is final cash distributions being between $4.0 to $4.5
million to Auric between July and October once all gold has been sold, all costs
paid, and final accounting completed.
Auric Mining Limited
ACN 635 470 843
Level 1, 1 Tully Road, East Perth WA 6004
PO Box 1057, Joondalup DC WA 6919
info@auricmining.com.au
08 9548 9997
auricmining.com.au
ASX: AWJ
ANNOUNCEMENT TO THE AUSTRALIAN SECURITIES EXCHANGE
9 JULY 2025
Under the terms of the joint venture agreement BML are the miners, operators and
managers of the Jeffreys Find Project. BML incurs and pays all mining, haulage,
milling costs and related expenses. After sale of the gold, the partners subtract all
direct costs before splitting the surplus cash proceeds on a 50:50 basis.
In total, Auric expects to bank more than $17 million from its share of the inaugural
mining joint venture at Jeffreys Find. The additional cash to be received from this
final campaign at Jeffreys Find will be used by Auric to fund mining and other
development costs at its Munda Gold Mine.
This announcement has been approved for release by the Board of Auric Mining Ltd.
Corporate Enquiries
Investor Relations
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Mark English
Managing Director
Auric Mining Limited
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Director
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T +61 409 372 775
T +61 412 952 610
E menglish@auricmining.com.au E alexc@nwrcommunications.com.au
Auric Mining Limited
ACN 635 470 843
Level 1, 1 Tully Road, East Perth WA 6004
PO Box 1057, Joondalup DC WA 6919
info@auricmining.com.au
08 9548 9997
auricmining.com.au
ASX: AWJ
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