Jeffreys Find
Auric’s joint venture partner, BML Ventures Pty Ltd, has signed a toll milling agreement with Focus Minerals Ltd to process 60,000 tonnes of ore at the Three Mile Hill Plant in Coolgardie, WA.
The processing is scheduled to begin in early July 2025 and is expected to take approximately three weeks.
This will mark the end of the Jeffreys Find project, as it is the last batch of ore from the mine.
Auric anticipates receiving an additional $3 to $4 million in cash flow from this final processing, buoyed by high gold prices.
English highlights the project’s successful conclusion, noting that the strong gold market has exceeded expectations and will result in a significant cash surplus for the company in July and August 2025.
Lindsay’s Project
Auric has executed a binding agreement to purchase the Lindsay’s Project from Top Global Mining Pty Ltd and NBC Mining Pty Ltd, pending due diligence.
The project spans 33 square kilometers across eight tenements, including three granted mining leases, and features the partially mined Parrot Feathers gold deposit.
The $4 million purchase price will be paid through a mix of cash and shares.
The company sees potential for near-term open-pit mining and toll treatment, aligning with its strategy to acquire gold production projects near Kalgoorlie.
English emphasised that this acquisition is a key step toward sustained production, with plans to resume mining at Parrot Feathers in 2025.
Historically, the deposit yielded 6,153 ounces at 1.93g/t Au, though mining ceased in 2013 due to a gold price drop, leaving 75% of the planned ore unextracted.
