Auric Mining (Auric) has announced it will bank over $8 million from the sale of gold from the first three pours at its Munda starter pit in New South Wales following milling at Black Cat Syndicate’s Lakewood Mill.
This, the company said, means $14.6 million has been generated from gold sales with a net revenue to date of $8.8 million after 2,355 ounces were produced and sold at an average $6,200 per ounce.
“It’s a huge close to the year for Auric. Adding in the next stage, 65,000 tonne parcel already booked for processing at the Lakewood Mill in early 2026 will set the platform for another excellent year,” Auric managing director Mark English said.
“The ongoing buoyant gold market is working hugely in our favour as we continue selling the gold from our Munda starter pit.”
A second campaign – totalling around 65,000 tonnes – is expected to commence at Lakewood Mill in mid-January.
Drilling at the site between November 2023 and January 2024 confirmed gold mineralisation, with hits as high as 321 grams per tonne of gold.
The combined sale of gold across three pours, the company said, demonstrates an ability to generate near-term value for shareholders from the Munda gold mine thanks to an ore processing agreement with Black Cat to represent a cost-effective pathway to monetise the starter pit and position Auric towards long-term growth.
Following the completion of start pit activity, Auric is set to commence detailed planning and scoping for Munda’s main pit with work expected to begin in the first quarter of 2026.
Future works represent a “major opportunity” to expand production whilst assisting Munda to build into an integrated, sustainable, mid-sized gold producer.
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