Auric Mining signs agreement to process ore from Munda Gold Mine; positive.

Auric Mining has signed a toll milling and ore purchase agreement with Black Cat Syndicate to process ore from the Munda Gold Mine in Kalgoorlie, Western Australia. The deal covers up to 125,000t of ore, equivalent to the entire Starter Pit output, with an estimated gold content of 145,000oz.

The Munda Gold Mine’s resources are estimated at 3.65 million tonnes with a total gold content of 145,000oz. Auric anticipates extracting 125,000t of ore from the Starter Pit, with a grade of 1.8g/t Au, expected to yield around 6,100oz of gold after recovery processes.

Mining at the Munda gold mine began in April, with the mobilization of necessary equipment. The Western Australia Government approved the mining proposal and mine closure plan for the Munda Starter Pit, with mining expected to be completed around late 2025.

Auric plans to focus on the Munda Main Pit after completing the Starter Pit. Processing of the first batch of ore is set for October, with subsequent batches expected between November 2025 and January 2026, aiming to monetize all ounces from the Starter Pit by early 2026.

Auric Mining managing director Mark English expressed satisfaction with the agreement with Black Cat, enabling the processing and sale of gold from the Starter Pit. The company expects all ore produced to be processed by January 31, 2026, with final proceeds received by February 28, 2026.

Read more at Yahoo Finance: Auric Mining to process ore at Lakewood Mill under new agreement