Auric Mining has found a processing home for up to 125,000 tonnes of ore from its starter pit at the Munda gold mine near Kalgoorlie in Western Australia.
Under a new toll milling and ore purchase agreement with Black Cat Syndicate, the material will be processed at the Lakewood mill. Auric expects an average grade of 1.8 grams of gold per tonne, and has indicated the material will be processed in three stages between October 2025 and January 2026.
The company will then shift focus to the main pit at Munda, with detailed planning and scoping scheduled for the second quarter of 2026.
Auric managing director Mark English said the processing deal was “the last major missing piece” for the starter pit, and would allow for speedy revenue generation.
“Having a home for the Munda ore will enable Auric to monetise all the ounces from the starter pit,” he said. “We expect that all ore produced should be processed by January 31 (next year), and final Auric proceeds received by February 28.
“This is a fantastic outcome for all our shareholders and will be a pivotal growth moment for Auric.”
Black Cat managing director Gareth Solly said the processing deal would help to bring in revenue for the company while its new mines are brought online.
“The Fingals and Majestic ramp up is progressing as planned on an accelerated timeframe,” he said. “This is a win–win for both Auric and Black Cat and leads to more gold, sooner.”
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