Auric says its Munda deal will generate more than $28 million in revenue at current gold prices. The deal also benefits Black Cat, slotting nicely into its “more gold, sooner” strategy in the booming Kalgoorlie goldfields.
Auric’s first 40,000t ore parcel from a smaller starter pit is slated for September, with one or two additional campaigns to follow, wrapping up by early next year.
Auric’s 2023 scoping study – based on a then $2600 per ounce gold price – projected $76.9 million in surplus cash from Munda’s main pit. With gold now trading at nearly double that figure, the financial upside could be staggering for the company as it looks to become a standalone gold producer.
The company recently scooped up the old Burbanks processing plant outside Coolgardie, two prospective leases near Westgold’s Higginsville operation and the Lindsay’s gold project for $4 million, signalling its ambition to become self-sufficient in the not-too-distant future.
With Jeffreys Finds final gold haul hitting the mill and Munda’s starter pit in full swing, Auric looks to be turning its once modest toll-mining plays into fully-fledged standalone Aussie gold production.
Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au
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