AWJ Auric to bank $3M cash this quarter

Today Auric Mining (ASX: AWJ) announced toll milling of 150,000 tonnes of ore will start in three weeks. As a result, in combination with earlier working capital contributions, it is anticipated Auric will bank $3m in cash this quarter.

Managing Director, Mark English, said “We’ll bank $2 million this quarter, first proceeds to Auric from the 2024 mining of Jeffreys Find. It’s an early payment from our JV partners, reinforcing to us that we’re in for a great year at Auric. With another $1 million coming back from our earlier working capital contribution to Stage 2 at Jeffreys Find, we find ourselves in a robust position. We are exceeding our targets and with the gold price holding around $AUD3,500 an ounce the timing is perfect. Jeffreys Find will be a substantial cash producer for Auric in 2024 and 2025,” said Mr English.

The announcement serves to confirm Canary Capital’s due diligence and research report, and that Auric Mining is well placed to deliver significant returns to share holders

Highlights
•First cash of $2 million to be received in Q3, 2024 from gold sales.
•Repayment of $1 million working capital in Q3, 2024.
•Milling notice signed to toll treat 150,000 tonnes of ore.
•Processing to commence 24 July 2024 with campaign to last 6-7 weeks.
•75,000+ tonnes already delivered to Greenfields Mill or on ROM Pad at mine.
•Further toll milling campaigns scheduled in Q4, 2024.
•JV on target to process 300,000 tonnes at Greenfields Mill in 2024/2025.