Munda Toll Milling and Ore Purchase Agreement Executed
Released
Released
Announcement PDF
ANNOUNCEMENT TO THE AUSTRALIAN SECURITIES EXCHANGE
7 JULY 2025
Munda Gold Mine
Toll Milling and Ore Purchase
Agreement Executed
Highlights
•
Toll milling and ore purchase agreement executed with Black Cat Syndicate Ltd
on 4 July 2025.
•
Agreement provides for up to 125,000 tonnes to be processed at Lakewood Mill.
•
Milling is due to commence October 2025, with up to three separate campaigns.
•
Auric expects substantial cash in Q4 2025 from this transaction.
Management Comment
Managing Director, Mark English, said:
“This was the last major missing piece to enable us to finish the mining, processing
and sale of all the gold from the 2025 Starter Pit.
“After the recent first blast at our Munda Gold Mine at Widgiemooltha, mining is now
well underway. Executing this agreement with Black Cat to process the Munda ore
at their Lakewood Mill, just 100 kms away is a fantastic result for us.
“Having a home for the Munda ore will enable Auric to monetise all the ounces from
the Starter Pit. We expect that all ore produced should be processed by 31 January
2026, and final Auric proceeds received by 28 February 2026.
“This is a fantastic outcome for all our shareholders and will be a pivotal growth
moment for Auric,” 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
7 JULY 2025
The Announcement
Auric Mining Limited (ASX: AWJ) (Auric or the Company) is pleased to advise it has
executed a toll milling and ore purchase agreement with Black Cat Syndicate Ltd
(ASX: BC8) (Black Cat) to process the Starter Pit ore from the Munda Gold Mine at
the Lakewood Mill in Kalgoorlie, Western Australia.
The agreement was executed by Auric and Black Cat on 4 July 2025. The agreement
provides for a maximum quantity of 125,000 tonnes to be processed, which should
see all the ore from the Starter Pit processed at the Lakewood Mill.
Munda resources (Indicated and Inferred) are estimated at 3.65M tonnes
containing 145,000 ounces of gold at a 0.5g/t cut-off (Table 1). The Company is
projecting 125,000 tonnes of ore will be extracted from the Starter Pit at an estimated
grade of 1.8g/t Au, to produce 6,100 ounces (after recovery) of gold. Mining the
Starter Pit will take approximately five months to complete, with estimated
completion date in October/ November this year.
The first parcel is expected to be processed in October this year, with a minimum
parcel of 40,000 tonnes. The parties expect another one or two parcels will be
processed between November 2025 and January 2026.
Once the Starter Pit is completed, Auric then intends to complete detailed planning
and scoping for the Munda Main Pit. Auric anticipates commencing this work
around Q2/2026.
Auric is very happy entering into this agreement with Black Cat and see this as being
extremely beneficial to both companies, providing outcomes that we both need.
Table 1. November 2024 Munda Gold Deposit Mineral Resource Estimates 1
Au
g/t
Cutoff
0.20
0.30
0.40
0.50
0.60
0.70
0.80
0.90
1.00
Indicated
MTonnes
7.56
5.51
4.24
3.35
2.71
2.24
1.89
1.62
1.41
Au
g/t
0.72
0.89
1.06
1.22
1.38
1.53
1.67
1.81
1.94
Inferred
Indicated + Inferred
Koz
MTonnes
Au g/t
Koz
MTonnes
175
158
144
131
120
110
101
94
88
0.5
0.4
0.3
0.3
0.2
0.2
0.2
0.1
0.1
0.9
1.0
1.2
1.4
1.5
1.7
1.9
2.0
2.1
14
13
12
14
10
11
12
6
7
8.06
5.91
4.54
3.65
2.91
2.44
2.09
1.72
1.51
Au
g/t
0.73
0.90
1.07
1.23
1.39
1.54
1.69
1.82
1.95
Koz
189
171
156
145
130
121
114
101
95
1 ASX: AWJ 12 December 2024: Starter Pit Ore Reserve for Munda Gold Deposit-Clarification.
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
7 JULY 2025
Compliance Statement
Information on the Resource Estimates for Munda is extracted from the report
Munda Gold Deposit Updated Mineral Resources Precursor to Starter Pit Mining
announced to the ASX on 12 December 2024 and is available to view on the
Company’s website; www.auricmining.com.au. The Company confirms that it is not
aware of any new information or data that materially affects the information
included in the original market announcement and that all material assumptions
and technical parameters underpinning the estimates in the relevant market
announcement continue to apply and have not materially changed. The Company
confirms that the form and context in which the Competent Person’s findings are
presented have not been materially modified from the original market
announcement.
Information on the Ore Reserve for the Munda Starter Pit is extracted from the report
Munda Gold Deposit Starter Pit Ore Reserve announced to the ASX on 12 December
2024 and is available to view on the Company’s website; www.auricmining.com.au.
The Company confirms that it is not aware of any new information or data that
materially affects the information included in the original market announcement
and that all material assumptions and technical parameters underpinning the
production target and the forecast financial information derived from the
production target in the relevant market announcement continue to apply and
have not materially changed. The Company confirms that the form and context in
which the Competent Person’s findings are presented have not been materially
modified from the original market announcement.
Forward Looking Statement
This Announcement may contain forward-looking statements which are identified
by words such as ‘may’, ‘could’, ‘should’, ‘believes’, ‘estimates’, ‘targets’,
‘expecting’, or ‘intends’ and other similar words that involve risks and uncertainties.
These statements are based on an assessment of present economic and operating
conditions, and on a number of assumptions regarding future events and actions
that, as at the date of this Announcement, are considered reasonable. Such
forward-looking statements are not a guarantee of future performance and involve
known and unknown risks, uncertainties, assumptions, and other important factors,
many of which are beyond the control of the Company, the Directors, and the
management. The Directors cannot and do not give any assurance that the results,
performance, or achievements expressed or implied by the forward-looking
statements contained in this Announcement will actually occur and investors are
cautioned not to place undue reliance on these forward-looking statements.
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
7 JULY 2025
This announcement has been approved for release by the Board of Auric Mining Ltd.
Corporate Enquiries
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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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