Announcement • Apr 02
Auric Mining Limited, Annual General Meeting, May 28, 2026 Auric Mining Limited, Annual General Meeting, May 28, 2026. Reported Earnings • Mar 31
Full year 2025 earnings released: EPS: AU$0.032 (vs AU$0.02 in FY 2024) Full year 2025 results: EPS: AU$0.032 (up from AU$0.02 in FY 2024). Revenue: AU$20.6m (up 148% from FY 2024). Net income: AU$5.17m (up 92% from FY 2024). Profit margin: 25% (down from 32% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 86% per year but the company’s share price has only increased by 74% per year, which means it is significantly lagging earnings growth. New Risk • Mar 30
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (30% accrual ratio). Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Share price has been volatile over the past 3 months (14% average weekly change). Shareholders have been diluted in the past year (26% increase in shares outstanding). Revenue is less than US$5m (AU$6.4m revenue, or US$4.4m). Market cap is less than US$100m (AU$58.0m market cap, or US$39.8m). New Risk • Mar 23
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 14% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (30% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Shareholders have been diluted in the past year (26% increase in shares outstanding). Revenue is less than US$5m (AU$6.4m revenue, or US$4.5m). Market cap is less than US$100m (AU$52.4m market cap, or US$36.6m). Announcement • Oct 31
Auric Mining Limited has completed a Follow-on Equity Offering in the amount of AUD 0.08 million. Auric Mining Limited has completed a Follow-on Equity Offering in the amount of AUD 0.08 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 800,000
Price\Range: AUD 0.1
Transaction Features: Subsequent Direct Listing Announcement • Oct 27
Auric Mining Limited has filed a Follow-on Equity Offering in the amount of AUD 0.08 million. Auric Mining Limited has filed a Follow-on Equity Offering in the amount of AUD 0.08 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 800,000
Price\Range: AUD 0.1
Transaction Features: Subsequent Direct Listing Reported Earnings • Sep 13
First half 2025 earnings released: AU$0.001 loss per share (vs AU$0.003 profit in 1H 2024) First half 2025 results: AU$0.001 loss per share (down from AU$0.003 profit in 1H 2024). Revenue: AU$248.2k (down 89% from 1H 2024). Net loss: AU$175.6k (down 143% from profit in 1H 2024). Over the last 3 years on average, earnings per share has increased by 99% per year but the company’s share price has only increased by 34% per year, which means it is significantly lagging earnings growth. New Risk • May 29
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 25% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (54% accrual ratio). Minor Risks Shareholders have been diluted in the past year (25% increase in shares outstanding). Market cap is less than US$100m (AU$33.5m market cap, or US$21.5m). Announcement • May 24
Auric Mining Limited has completed a Follow-on Equity Offering in the amount of AUD 6.66 million. Auric Mining Limited has completed a Follow-on Equity Offering in the amount of AUD 6.66 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 37,000,000
Price\Range: AUD 0.18
Discount Per Security: AUD 0.0108
Transaction Features: Subsequent Direct Listing Announcement • May 23
Auric Mining Limited has filed a Follow-on Equity Offering. Auric Mining Limited has filed a Follow-on Equity Offering.
Security Name: Ordinary Shares
Security Type: Common Stock
Transaction Features: Subsequent Direct Listing New Risk • Apr 02
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 54% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (54% accrual ratio). Minor Risk Market cap is less than US$100m (AU$40.2m market cap, or US$25.2m). Announcement • Apr 01
Auric Mining Limited, Annual General Meeting, May 29, 2025 Auric Mining Limited, Annual General Meeting, May 29, 2025. New Risk • Mar 28
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Revenue is less than US$5m (AU$6.9m revenue, or US$4.4m). Market cap is less than US$100m (AU$41.0m market cap, or US$25.8m). New Risk • Dec 23
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 12% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Shareholders have been diluted in the past year (14% increase in shares outstanding). Revenue is less than US$5m (AU$6.9m revenue, or US$4.3m). Market cap is less than US$100m (AU$52.0m market cap, or US$32.5m). Announcement • Dec 18
Auric Mining Limited (ASX:AWJ) signed a letter of intent to acquire Burbanks Plant, Coolgardie for AUD 4.4 million. Auric Mining Limited (ASX:AWJ) signed a letter of intent to acquire Burbanks Plant, Coolgardie for AUD 4.4 million on December 16, 2024. A cash consideration of AUD 4.4 million will be paid by Auric Mining Limited. As part of consideration, AUD 4.4 million is paid towards assets of Burbanks Plant, Coolgardie. Auric has paid a non-refundable AUD 0.1 million deposit. The transaction will be financed through equity investment of AUD 4.4 million.
The transaction is subject to consummation of due diligence investigation. The expected completion of the transaction is March 15, 2025. New Risk • Sep 17
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risk No financial data reported. Minor Risks Shareholders have been diluted in the past year (14% increase in shares outstanding). Market cap is less than US$100m (AU$46.8m market cap, or US$31.5m). Announcement • Apr 11
Auric Mining Limited has filed a Follow-on Equity Offering in the amount of AUD 0.675 million. Auric Mining Limited has filed a Follow-on Equity Offering in the amount of AUD 0.675 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 4,500,000
Price\Range: AUD 0.15
Transaction Features: Subsequent Direct Listing Recent Insider Transactions Derivative • Apr 06
MD & Executive Director exercised options to buy AU$63k worth of stock. On the 4th of April, Mark English exercised options to buy 333k shares at a strike price of around AU$0.15, costing a total of AU$50k. This transaction amounted to 3.8% of their direct individual holding at the time of the trade. Since June 2023, Mark's direct individual holding has increased from 7.24m shares to 9.03m. Company insiders have collectively bought AU$163k more than they sold, via options and on-market transactions, in the last 12 months. Announcement • Apr 04
Auric Mining Limited, Annual General Meeting, May 24, 2024 Auric Mining Limited, Annual General Meeting, May 24, 2024. New Risk • Feb 13
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$3.1m free cash flow). Revenue is less than US$1m. Market cap is less than US$10m (AU$15.0m market cap, or US$9.83m). Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Share price has been volatile over the past 3 months (15% average weekly change). Announcement • Feb 01
Auric Mining Limited Appoints Catherine Yeo as Joint Company Secretary Auric Mining Limited announced that Catherine Yeo has been appointed as Joint Company Secretary, effective immediately, in addition to her continuing role as Financial Controller. Catherine holds a Bachelor of Commerce in Accounting and Finance from Murdoch University and is an Affiliate Member of the Governance Institute of Australia. Tamara Barr remains the Company Secretary responsible for communications between the company and ASX for the purpose of ASX Listing Rule 12.6. Announcement • Feb 18
Auric Mining Limited Announces Update on Its Jeffreys Find Project Auric Mining Limited announced an update on its Jeffreys Find Project. Grade Control Program Grade Control drilling is underway at Jeffreys Find. This is a significant step toward mining gold at the Company's Jeffreys Find Gold Deposit near Norseman. This short mine life project will be mined in partnership with BML Ventures Pty Ltd, a local mining contractor. Importantly for Auric, BML incurs and pays all upfront on-going costs in mining the gold. The net surplus cash will split 50:50 with BML Ventures 1. The grade control program comprises 64 holes for 1,924m on a 20 x 10m pattern. Grade control holes will infill the historic drill pattern resulting in a 10m x 10m pattern. Drilling is being undertaken by Kalgoorlie-based VM Drilling and supervised by BML Ventures. Work Completed Substantial progress for the mine planning and permitting at Jeffreys Find has been completed. 1. Metallurgical testwork undertaken by Auric predicts gold recoveries of between 90 and 95% 2. 2. A Scoping Study for open-pit mining and third-party toll treatment returned a positive result showing that at a gold price of AUD 2,600/oz, the Production Target for the Project, representing two processing options is approximately 385kt at 1.6g/t to 550kt at 1.5g/t, producing between 18.9koz and 24.7koz gold 3. 3. The Jeffreys Find deposit will be mined to two phases. A Small Mine Mining Proposal that allows for the first phase starter pit has been approved. 4. A water licence has been granted to drill bores at Jeffreys Find for dewatering. 5. A 14km access road from the mine site to the sealed highway has been cleared. 6. Engineering design for road access onto the Eyre Highway has been submitted. 7. A Native Vegetation clearing permit has been granted. Next Steps Detailed mine planning based on grade control results. Approval of the full Mining Proposal for a final pit, which has been submitted. Finalise negotiations and execute a contract with toll treatment operator for processing of the starter pit ore. Grade Control Drilling Program The grade control drilling program comprises a 20 x 10m pattern, infilling the historic drill layout to achieve a nominal 10m x 10m pattern. Announcement • Feb 11
Auric Mining Limited Announces RC Drilling is Underway At the company's Chalice West Project Auric Mining Limited announced that RC drilling is underway at the Company's Chalice West Project. The drill rig will then mobilise to the Miitel South Gold Prospect. RC drilling started on 4 February 2023 to advance the multiple opportunities generated by a recently completed aircore drilling program at Chalice West. The results of that program further defined gold anomalism in a setting analogous with the nearby Chalice gold deposit, together with distinct nickel anomalism and widespread, elevated REE concentrations in clays. The drill will then mobilise to the Miitel South Gold Prospect, part of the Neometals Gold Rights acquisition 1. This prospect has been prioritised on the basis of extensive historic workings, including a substantial alluvial mining operation together with strongly anomalous rock chip, trench and soil samples. The Chalice West Project: Auric completed a 227 hole air core drilling program in late November 2022. The thrust of the program was to test a highly prospective area proximal to the Chalice Gold Mine, a prolific gold producer within the last decade. Results are now in, revealing: Gold. Near continuous gold anomalism in basalt over a five kilometre strike length with host-rock geology analogous to The Chalice Gold Mine 2. Nickel. Anomalous nickel results including 2m @ 0.67% Ni in AAC0279 returned, representing two distinct ultramafic units. These results show the potential for komatiite-hosted nickel sulphide mineralisation. Rare Earths. Significant clay-hosted Rare Earth Element (REE) concentrations were intersected in three distinct and widespread zones with intervals up to 17m thick and individual grades up to 11,038ppm (1.10wt %) Total Rare Earth Oxides (TREO) 3 . Of the three zones, the south eastern zone overlaps the anomalous gold zone and coincides with an ~ 7km long NW trending magnetic feature corresponding to magnetic monzogranite and ultramafic bedrock geology. Valuable Magnetic Rare Earth Oxide (MREO) make up more than 20% of TREO in the majority of assayed intervals and up to 31% of TREO. 2.1 Chalice West Reverse Circulation (RC) Drilling: An RC program comprising 5 holes for approximately 600m began on 4 February 2023. Kalgoorlie-based Kennedy Drilling are providing drilling services with Auric personnel supervising the program. Three holes will target fresh basalts and granite beneath previously defined and near-pervasive gold anomalism in air core holes on the 6,471,150 northing. Two holes will drill an ultramafic unit beneath the highest nickel grades, also on the 6,471,150 northing. The RC program will not target REE as further expansion of the clay-hosted REE potential will involve aircore, rather than RC drilling. MIITEL SOUTH RC DRILLING (Part of the Widgiemooltha Gold Project): The Miitel South prospect lies within P15/6387 which is subject to a gold rights agreement with Widgie Nickel Limited. The tenement and prospect lies only 13km south of Widgiemooltha and is part of Auric's Widgiemooltha Gold Project which includes the Company's Munda Gold Deposit. Auric undertakes continuous assessment of different areas and prospects within the Company's 516 km² tenement package. The Miitel South prospect is ranked as one of the Company's highest priority gold targets. The prospect is defined by a combination of historic workings, anomalous rock chip and soil samples and trenches together with evidence of a substantial alluvial mining operation. Announcement • Dec 24
Auric Mining Limited Provides Further Detail Following Completion of Drilling at its Chalice West Project Near Higginsville-Widgiemooltha, Western Australia Auric Mining Limited provided further detail following the completion of drilling at the Company's Chalice West Project near Higginsville-Widgiemooltha, Western Australia. The drilling program was completed on 22 November 2022 with 227 aircore holes drilled for 7,227m. Initial results for gold and Rare Earth Elements (REE) were announced on 19 December 2022. Program and results to date: Onsite pXRF testing for nickel was used as an objective basis for selective (1m) sampling and associated laboratory analyses for nickel and other elements. Assay results have now been received for 119 of the 227 bottom of hole composite samples and for 177 of the 370 single metre selected samples. All of the assays relate to drilling along the interpreted repeat of the Chalice Gold Mine stratigraphy, now referred to as the Chalice West Prospect. Anomalous nickel intercepts have been returned for 9 of the holes, with 9m at 3,636ppm Ni recorded for AAC0279 which includes 2m at 6,663ppm Ni (0.67% Ni) and 13m at 2,116ppm Ni recorded for AAC0311. These intercepts occur within weathered ultramafic units revealing potential for nickel sulphide mineralization in the unweathered extensions of the same units, perhaps similar to komatiite-hosted nickel sulphide mineralization for which the Widgiemooltha area is renowned. Drill holes were logged by a geologist at 1m intervals and the lithologies, particularly in the clay-weathered sequence compared with pXRF results for Cr, Ti and Zr to better constrain the clay-weathered protoliths. On this basis, 3 ultramafic units dominated by amphiboles and chlorite have been defined, intercalated with basalt units and granite. Anomalous nickel at a 1000ppm (ie, 0.1%) cut-off has been intersected in 7 holes, within or proximal to two of the ultramafic units. Most of the anomalous values in aircore holes correlate with surface soil anomalies defined at a lower, ie, 100ppm cut-off (Figure 2). Ni anomalism intersected in 2 other holes appears to occur within weathered basalts although there is some geochemical support for an ultramafic interpretation. Significant Ni assays for both single-metre infill samples and bottom-of-hole composite samples at a 1000ppm Ni cut-off. Other elements (Cr and Zn) that may assist in vectoring toward a potential sulphide source for the Ni are also listed along with Cu and Co which commonly occur with Ni mineralisation in komatiite-hosted nickel deposits. Upon receipt of the remaining drill assays, the results will be compiled and interpreted. There is potential for nickel sulphide mineralisation along the Chalice West Prospect ultramafics and a ground Electromagnetics (EM) survey to define conductive sulphide units is the next exploration step. Announcement • Dec 08
Auric Mining Limited has completed a Follow-on Equity Offering in the amount of AUD 1.249997 million. Auric Mining Limited has completed a Follow-on Equity Offering in the amount of AUD 1.249997 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 13,361,066
Price\Range: AUD 0.072
Discount Per Security: AUD 0.00072
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 3,999,995
Price\Range: AUD 0.072
Discount Per Security: AUD 0.00072 Announcement • Nov 23
Auric Mining Limited Completes Chalice West Drilling Auric Mining Limited announced the Company's Chalice West Project drilling program near Higginsville-Widgiemooltha, Western Australia was completed on 22 November 2022. A total of 227 aircore holes have been drilled for 7200 metres. All samples were submitted as 4 metre composites for gold analyses and the bottom-of-hole composites for a suite of 48 additional elements. Onsite pXRF testing was completed for nickel and other elements, including proxies for lithium and rare earths. pXRF was used as an objective basis for selective sampling and associated multielement laboratory analysis. As at the date of this announcement, 1870 composite samples together with 378 selected single-metre samples have been delivered to Intertek Genalysis for analysis. Auric will update the market promptly regarding the results. It is anticipated that the initial results will be announced mid-December 2022. Board Change • Nov 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 3 non-independent directors. Non-Executive Chairman of the Board Steve Morris was the last director to join the board, commencing their role in 2020. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Nov 08
Auric Mining Limited Provides an Update on Drilling At Chalice West Project, Western Australia Auric Mining Limited provided an update on drilling at the Company's Chalice West Project near Higginsville- Widgiemooltha, Western Australia. As at 6 November 2022, 174 aircore holes have been drilled with another 66 holes remaining in the current program. The project covers a substantial and mostly undefined greenstone component which has gone largely unrecognised. It includes a likely continuation of the rocks that host the Chalice gold mine a short distance to the northeast together with lithologies that have the potential to host concentrations of nickel, lithium, rare earths and other elements. All samples are submitted as 4m composites for gold analyses whilst onsite pXRF testing for nickel, lithium, rare earths and other elements is used as an objective basis for selective sampling and associated multielement laboratory analyses. Auric will update the market promptly regarding the drilling program and results. At the date of the announcement 1,130 samples have been delivered to Genalysis for testing, with the first results anticipated to be announced around mid-December 2022. Announcement • Oct 18
Auric Mining Limited Commences Drilling at its Chalice West Project Near Higginsville-Widgiemooltha, Western Australia Auric Mining Limited has commenced drilling at its Chalice West Project near Higginsville-Widgiemooltha, Western Australia. The drilling program has been designed to search for gold, nickel, lithium and rare earths in one of the premier mining jurisdictions in the world. Over the coming five to seven weeks Auric will drill approximately 240 air-core holes at the Chalice West Project, for approximately 10,700 metres of drilling. Respected Kalgoorlie drilling company, Kennedy Drilling, commenced drilling yesterday. Samples will be processed by Intertek Genalysis with expected turnaround of four to six weeks from delivery. Auric will also conduct onsite pXRF testing for nickel, lithium, rare earths and other minerals. Auric will update the market promptly regarding the drilling program and results. Announcement • Oct 07
Auric Mining Limited has completed a Follow-on Equity Offering in the amount of AUD 1.1302 million. Auric Mining Limited has completed a Follow-on Equity Offering in the amount of AUD 1.1302 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 15,697,224
Price\Range: AUD 0.072
Discount Per Security: AUD 0.00432
Transaction Features: Subsequent Direct Listing Announcement • Aug 24
Auric Mining Limited Provides an Update on Activities Planned for Its Chalice West and Jeffreys Find Projects Auric Mining Limited provided an update on activities planned for its Chalice West and Jeffreys Find Projects. Chalice West Project: Auric announced on 14 July 2022 the option agreement with well-known local geologist Mr. John Williams, via his vehicle Mineral Business Development Pty Ltd, (Mineral Business) to potentially acquire The Chalice West Project tenements had been completed. Auric has since completed a heritage survey in cooperation with the Ngadju Native Title Aboriginal Corporation and has a Program of Works (POW) application to the Department of Mines, Industry Regulation and Safety (DMIRS) approved. A drilling contract with Kalgoorlie-based drilling contractor, Kennedy Drilling, has been executed with a rig scheduled for a mid-October start date. The planned program includes 135 aircore drill holes that will close the very sparse drilling around distinctly anomalous intercepts defined by Resolute Mining in 1997. The target in this instance is an analogue or analogues to the Chalice Gold Mine only 8km to the northwest which produced around 700,000 oz of gold over 7 years from 1995 at an average grade of 5.2g/t. The geological setting for the Chalice Gold Mine appears to mirror that of the Chalice West Project with lithologies interpreted from magnetic images to wrap around a granitic dome separating the two areas. The Chalice West area has previously been mapped as granites, but the Resolute drilling clearly demonstrated that greenstones, including basalts and ultramafic rocks are extensive in the area beneath widespread transported cover. A further 85 aircore holes are planned that will likely expand the extent of known greenstone units in the project area, including some with associated nickel-in-soils anomalism. All drill samples will be routinely assayed for gold and bottom-of-hole samples for a suite of elements. In addition, a hand-held XRF instrument will be used in the field to scan all samples for a range of elements that will include nickel and proxies for lithium and rare earth elements. A new tenement, E15/1925, is now under application, increasing the Chalice West Project area from 344km2 to 408km2. This expands coverage over the granite dome separating the Chalice Gold Mine and Chalice West Project which in turn represents a potential analogue to the Pioneer Dome. Jeffreys Find Project: The Company remains focused on delivering value through commercialising its Jeffreys Find gold deposit, with the next steps announced earlier this week: This agreement provides for open pit mining of the Jeffreys Find deposit by BML Ventures Pty Limited (BML) (in consultation with AWJ), after payment of all costs the net cash surplus is to be shared 50/50. Various permitting and mine planning activities are already underway, including discussions with toll mills and with MainRoads. A vegetation and flora study is planned for September. Mine planning activities will also include geotechnical drilling and a pre-mine grade control program which will be supervised by BML. Announcement • Aug 22
Auric Mining Limited Announces Agreement Executed to Commence Gold Mining At Jeffreys Find Auric Mining Limited announced it has entered into an agreement with BML Ventures Pty Ltd. (BML) for the mining of the Jeffreys Find deposit. The Jeffreys Find deposit is a discrete gold project within M63/242 with a Mineral Resource Estimate of 1.21 Mt @ 1.22g/t for 47,900oz Au (0.5 g/t Au cut-off) 1. The deposit is thickest at surface, remains open at depth and has never been mined. Auric recently completed metallurgical testwork which defined excellent characteristics for conventional CIL processing 2 and then completed a Scoping Study for open-pit mining and third-party toll treatment of the Jeffreys Find gold deposit 3 The results of the study were positive such that the agreement with BML is a logical next step in the progression to mining the Jeffreys Find deposit. Various pre-mining activities relevant to mine planning and permitting will now be undertaken in conjunction with BML, including geotechnical drilling, a hydrological study and ore and waste-rock geochemical studies, a fauna and vegetation survey and a heritage survey. A pre-mining grade control program will also be undertaken to assist with mine planning. BML is a privately owned company based in Kalgoorlie and has a strong track record of funding, developing, and operating open pit gold mines. With a strong technical focus, BML leverages its low-cost owner/operator mining fleet and its relationships with local toll treatment operators to maximise profitability and cash generation from small to medium sized mining projects. The material terms of the agreement with BML are as follows: AWJ and BML have entered into an agreement for open pit mining at the Jeffreys Find Deposit within the Jeffreys Find Gold Project. AWJ will be responsible for all costs associated with permitting the project, and with construction of a site access road. A pre-mining grade control program will be undertaken together with diamond drilling for studies to better optimise mining. Costs for these programs will be shared AWJ 50%: BML 50%. Upon a decision to mine, BML will be solely responsible for all capital costs and payment of haulage, staff, equipment, contractors, and all working capital costs associated with mining. Processing arrangements are to be entered into with one of a number of third- party processing plants in the region. BML must give AWJ its operating and financial budgets for mining the Jeffreys Find Deposit and any variations to budget where the variation increases budgeted costs by more than 10%. Net cash surplus (ie. surplus cash from the sale of product minus costs incurred by BML and toll milling costs in connection with mining the Jeffreys Find Deposit) will be split AWJ 50%: BML 50%. Mining is planned in 2 stages, with a starter pit and final pit. The agreement includes provision for an interim split of surplus cash following the completion of the starter pit. The term of the agreement will continue until the earlier of: Final distribution of all cash generated from the sale of product from the Jeffreys Find Deposit: BML has not undertaken mining (or actively investigated the merits of mining) the Jeffreys Find Deposit for a period of 12 months from the last activity or expenditure incurred by BML on the Jeffreys Find Deposit: Mining of the Jeffreys Find Deposit has not commenced within 18 months of the date of the agreement except where any delays are unavoidable to BML, or: The agreement is otherwise terminated by a party for breach of a material provision by the other party. The Jeffreys Find Project comprises mining lease M63/242 and miscellaneous licence L63/97. It lies around 45km northeast of Norseman in Western Australia. Gold mineralisation identified at the Jeffreys Find Project includes the Jeffreys Find Deposit and the Neo Prospect which is around 550m to the northwest of the Jeffreys Find Deposit. This mineralisation is associated with a moderately south westerly dipping Banded Iron Formation (BIF) unit which is distinctive in magnetic images over approximately 1.6 km . The BIF comprises magnetite-grunerite chert and is bounded by sandstones, siltstones, cherts and limestones. Announcement • Jul 12
Auric Mining Limited Announces Positive Scoping Study for Jeffreys Find Project Auric Mining Limited announcedthe completion of a Scoping Study for open-pit mining and third-party toll treatment of the Jeffreys Find gold deposit. The Jeffreys Find Project is located 45km northeast of Norseman in Western Australia. The positive results of this Scoping Study justify further work to refine material inputs and enhance project economics for the Jeffreys Find gold deposit. Scoping Study Highlights: Two processing options were considered. The first of these is located 110km from Jeffreys Find and the second is 230km from Jeffreys Find. Both processing options provide positive study outcomes whilst the shorter distance would clearly be the preferred option. At a gold price of AUD 2,600/oz, the Production Target for the Project, representing the two processing options is approximately 385kt at 1.6g/t to 550kt at 1.5g/t, producing between 18.9koz and 24.7koz gold. This generates an undiscounted accumulated cash surplus after payment of all working capital costs, but excluding pre-mining capital requirements, of between approximately $9.7 million and $16.7 million. Pre-mining capital and start-up costs are estimated to be approximately $0.7 million to $1.5 million. Working capital requirements of between approximately $3.8 million and $7.9 million were estimated based on a Stage 1 starter pit design which would have a mine life of less than 3 months. The starter pit is estimated to generate an undiscounted accumulated cash surplus after payment of all working capital costs, but excluding pre-mining capital and start-up costs, of approximately $4.1 million to $8.4 million. Auric commissioned Minecomp Pty Ltd, a Kalgoorlie based consulting firm with extensive experience evaluating mining projects in the Eastern Goldfields, to undertake a Scoping Study evaluating potential open pit mining at Jeffreys Find and ore processing via toll treatment at existing plants. Two third party toll treatment ore processing options were considered. The first is located approximately 110km from Jeffreys Find and the second, 230km from Jeffreys Find. Minecomp's study included generating optimal pits and a Stage 1 starter Pit design utilising Whittle 4D pit optimisation software and Surpac mine planning software. The study is based on the September 2020 FSSI MIK recoverable resource model described in an announcement to the ASX on 2 March 2021 1. The resource model was prepared by a competent person in accordance with the 2012 JORC code and includes estimates classified as Indicated and Inferred. A cutoff grade of 0.6g/t was used for pit optimization. The total Indicated and Inferred gold resource estimate at a 0.6g/t cut-off is 1.06Mt @ 1.31g/t for 44.6 koz gold. This is a recoverable resource estimate, including both mining waste and dilution. Based upon the resource estimate model, slope parameters and the cost structure applied, the Production Target for the first processing option, ie, the approximately 110km haulage option to a toll treatment facility at an assumed AUD 2,600 per ounce gold price is approximately: 550kt at 1.5g/t for 24.7koz gold recovered and an undiscounted accumulated cash surplus of $16.7 million. Applying the same parameters to the second processing option, the Production Target for the first processing option, ie, the approximately 230km haulage option to a toll treatment facility at an assumed AUD 2,600 per ounce gold price, the Production Target is approximately: 385kt at 1.6g/t for 18.9koz gold recovered and an undiscounted accumulated cash surplus of $9.7 million. The Scoping Study, and Production Targets derived from the study are based on the material assumptions and modifying factors described in the following notes and in the appended JORC (2012). Auric's evaluation of the Project is at an early stage, and although there are reasonable grounds for these assumptions, they represent low level technical assessments that are not sufficient to support the estimation of Ore Reserves, or to provide assurance of an economic development case at this stage, or to provide certainty that the conclusions of the Scoping Study will be realised. Announcement • May 29
Stephen Strubel Not to Stand for Re-Election as Director of Auric Mining Limited Auric Mining Limited announced that Mr. Stephen Strubel did not stand for re-election at the Company's AGM due to his workload and commitments with other public companies. As such, Mr. Strubel retired and ceases to be a Director of the Board at the conclusion of the 2022 AGM. Date that director ceased to be director is 27 May 2022. Announcement • May 12
Auric Mining Limited Reports Results of Metallurgical Testwork Completed on Composite Sample from Single Drillhole At Munda Auric Mining Limited reported the results of metallurgical testwork completed on a composite sample from a single drillhole at Munda. The results show excellent recoveries in fresh rock via gravity separation and leaching and while not providing the spatial or lithological coverage needed for a comprehensive assessment of Munda, suggest that Munda will be amenable to traditional CIL extraction techniques. The composite sample was taken in conjunction with a comprehensive metallurgical testwork program for Jeffreys Find which was announced to 6 May 2022; Jeffreys Find Metallurgical Testwork Confirms Amenability to Conventional CIL Processing. The composite sample represented 7 single metre intervals between 52m and 83m depth in RC hole AMRC054 and comprised fresh basalt and lesser ultramafics with an average weighted grade of 1.81g/t. The hole was drilled by Auric in September 2021 as part of a 28 hole program described in an announcement, 26 October 2021; Drilling Returns Consistent Gold Results at Munda. The metallurgical program was designed and supervised by Upside Group Pty Ltd. and undertaken at ALS Metallurgy's Perth facility. The principal findings were: Gravity separation and subsequent leaching of gravity tails yielded overall gold extraction of 96.57% by the 24-hour mark. This is the most representative interval as per toll treatment leaching residence times. It is noted that leach recovery was very rapid initially and did not improve after 24 hours. Gravity recovery was high, at 36.51%. Silver content in all samples is low. This in line with what would be expected for the Munda deposit. The arsenic content is very low. Organic carbon concentrations are low, indicating that Munda does not have preg-robbing qualities. Sulphur concentrations are very low, which reiterates that Munda is not a refractory orebody. Reagent consumption (cyanide, lime and oxygen) is low. Munda Project: The Munda gold deposit is situated around 5 km west of Widgiemooltha and the Coolgardie- Esperance Highway. It lies within mining lease M15/87 which is linked to the highway by miscellaneous licence L15/414 which is currently in application. The Munda gold deposit is hosted within basalts and overlying ultramafic flows and occurs in association with carbonate and biotite alteration, with only rare sulphide minerals except where nickel mineralisation is present. The distribution of gold mineralisation is interpreted to be controlled by the intersection of a south-easterly dipping fault or shear and layering in the basalts and ultramafics subparallel to the basalt-ultramafic contact. There have been numerous phases of exploration and resource drilling at Munda since the 1960's. The majority of this work was undertaken by Western Mining Corporation with subsequent programs by seven different companies including excavation of a small trial pit by Resolute Mining in 1999. The most recent drilling was by Auric with 55 RC holes drilled, of which 39 have contributed to the current estimate of resources. Board Change • Apr 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. Non-Executive Chairman of the Board Steve Morris was the last director to join the board, commencing their role in 2020. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Apr 07
Auric Mining Limited Provides Update on Current Activities Auric Mining Limited provided a general update to the market on current activities. WIDGIEMOOLTHA GOLD PROJECT; Guest Drilling Results: As advised on the 17 January 2022 Auric commenced a RC drilling program at the Guest Prospect. The program was completed on 27 January 2022. A total of 25 holes were drilled for 2,400 metres. All drill samples were delivered to Genalysis by 28 January 2022. Assay results are expected within the next 10 days and the Company expects to make a detailed announcement around late-April. JEFFREYS FIND PROJECT; Drilling and Metallurgical Testwork: Auric completed a RC Drilling program in September 2021. In January this year composite samples were prepared and delivered to ALS Metallurgy for metallurgical testwork. Results of this testwork are expected by mid-April. Scoping Study: The metallurgical testwork will contribute to a mine Scoping Study based on toll treatment for Jeffreys Find. Auric expects the Scoping Study will be ready to be announced to the ASX around 31 May this year. Development Opportunities: Since acquiring the Jeffreys Find Project in October 2020, Auric continues to investigate alternative approaches to monetise Jeffreys Find. One of the options is to toll treat the Jeffreys Find ore at treatment plants at either Kalgoorlie or Coolgardie. To this end, the current Metallurgical testwork is tailored to processing at specific mills. SPARGOVILLE PROJECT; Aircore Program: E15/1689: An Aircore drilling program has been designed that will test both gold and nickel anomalism within granted E15/1689. That program is planned for the June quarter of 2022 and can be extended to test gold and nickel targets within E15/1688 pending grant of that tenement. Announcement • Mar 23
Auric Mining Limited, Annual General Meeting, May 27, 2022 Auric Mining Limited, Annual General Meeting, May 27, 2022, at 10:00 E. Australia Standard Time. Announcement • Feb 01
Auric Mining Limited Announces Management Changes Auric Mining Limited announced that effective Mr. Stephen Strubel has stepped aside as Company Secretary. He remains a member of the Board of Auric as a Non-Executive Director. The Company announced that Miss Tamara Barr has been appointed as the Company Secretary of Auric. Miss Barr has been a practising Company Secretary and Corporate Governance Advisor for over 17 years', working across a diverse range of corporate sectors and industries. Miss Barr has worked predominantly in Australia, as well as in the UK and Europe, providing services to ASX listed, Public and NFP companies. Miss Barr specialises in forward thinking corporate governance, process and corporate action management. Announcement • Jan 29
Auric Mining Limited Announces an Updated Estimate of Gold Resources for its Munda Gold Deposit, as well as Combined Resources Auric Mining Limited announced an updated estimate of gold resources for Auric's Munda gold deposit, as well as combined resources. FSS International Consultants (Australia) Pty Ltd. (FSSI) have completed a new estimate of Mineral Resources for the Munda gold deposit. Auric has undertaken a substantial volume of work since the previous resource estimate, completed in September 2020 that work has included the drilling of 39 RC holes, adding 5,210 samples to the resource database, work done to qualify the historical data and the mapping of the depth of complete and partial oxidation. At a 0.5 gpt cut-off, the current estimate of Munda resources is increased by 25,000 oz Au over the 2020 estimate. Of particular note, this represents a change from 100% in the Inferred category to 82% in the Indicated category and only 18% Inferred category This represents a significant increase in confidence in the exploration results to a level that can provide a basis for mine scoping or feasibility studies. Auric's Combined Resources: Auric have previously reported resource estimates for the Jeffreys Find gold deposit. The combined group resources represent a total of 245,900 oz Au at a 0.5 gpt cut-off. Information Material to the Estimates of Mineral Resources: Munda Summary: The Munda Gold Project is an advanced project around 5 km west of Widgiemooltha. It is situated on mining lease M15/87 and is linked to the Coolgardie-Esperance Highway by miscellaneous licences L15/414 and L15/397 which are currently in application. The resource model of the gold mineralisation extends over 900 metres east to west and by 400 metres north to south. Estimated resources extend to the base of mineralised drilling at around 180 metres vertical depth. Approximately 90% of the estimated resources are less than 110 metres depth and less than 1% are from depths of greater than 160 metres. Announcement • Jan 18
Auric Mining Limited Commencement of Drilling At Guest Gold Prospect Auric Mining Limited announced that an RC drilling program commenced at its Guest Gold Prospect. The program will consist of approximately 2,400 metres of RC drilling. The Company has secured a RC Drill Rig and the services of a highly credentialed drilling operator, K-Drill Pty Ltd, notwithstanding the current difficulty associated with securing drill rigs in WA. It is anticipated the current drill program will take approximately 2 weeks to complete. The Company plans to have assays dispatched to the laboratory on a regular basis to ensure reporting of assays as quickly as possible. Guest Prospect: The Guest Prospect lies between Auric's Munda gold deposit and the privately owned and operated Mount Gold Mine. It is between 1.3km and 2.4km southeast of the Munda gold deposit and 2.2km to 3.2km northwest of the Mount Gold Mine. The Guest Prospect is interpreted to lie in a similar position to Munda along the western limb of a small syncline developed on the margin of the Widgiemooltha Dome. The initial Guest Southeast holes were drilled in August 2021 on 3 traverses covering a strike length of 250m. The basalt host to gold mineralization is interpreted to extend over at least this distance with gold mineralization open along strike and beneath the 55m vertical depth extent of initial drilling. The basalt unit projected to surface, together with drill holes from the previous drilling in the south- eastern area. Announcement • Dec 23
Auric Mining Limited Announces Regional Air Core Drilling Results Auric Mining Limited recently completed an extensive phase of exploration comprising RC drilling programs at Munda, Guest and Jeffreys Find, air core drilling programs over the Widgiemooltha Gold Project and soil sampling programs over the Widgiemooltha Gold Project and Spargoville Project. Results of the different programs have been reported as received, with assay results received for RC drilling in the Guest Prospect reported in October 1. Auric has since reported results of RC drilling recently completed at Munda 2 and RC drilling completed at Jeffreys Find 3. Assay results have now been received for the air core drilling program which was undertaken during August and September 2021 with a total of 198 holes drilled for 7,769m as well as results for 524 soil samples taken over a similar period. The air core program was undertaken as the first stage in testing large areas beneath extensive surficial cover in the gold-rights tenements recently acquired from Neometals Ltd. 4 Six tenements were drill tested out of the 13 granted tenements in Auric's Widgiemooltha Gold Project. The results are encouraging, particularly around the northern margin of the Widgiemooltha Dome with both air core and soil sampling results defining anomalies that can be related to lithological contacts and fold axes. These will be used to plan follow-up air core drilling. Samples were taken as 4m composites and assayed for gold with the bottom of hole samples also analysed for a suite of 32 other elements. Background gold concentrations are less than 8ppb and anything greater than 10ppb is considered anomalous. Drill hole details and anomalous gold intercepts within the residual profile (ie, below any transported units) at a 10ppb Au cut-off are reported in Appendices A and B respectively. Weak (+10ppb anomalism) was returned from E15/1576 but any relationship with geological features has yet to be determined. The most prominent anomalism lies within E15/1583. Auric's sampling was located to complement extensive earlier sampling by Mincor Resources NL (Mincor) and by Neometals Limited (Neometals) where broad and distinctive anomalism coincides with the Guest Prospect and with the north eastern margin of the Widgiemooltha Monzogranite. Transported cover is quite thick in that area and there is some dispersion of gold over the granite but Auric's air core drilling has demonstrated that the gold anomalism relates to the margin of the granite in this north eastern portion of the dome. The setting may be analogous to the Chalice gold deposit 31km to the south which is sited at the contact of a monzogranite and greenstones with gold mineralisation closely related to granitic magmatism (Bucci, et al, 2002). Auric is developing a pipeline of projects from greenfields through advanced stage to potential near term development: Jeffreys Find represents a near term development option with recent RC drilling to provide for metallurgical testwork tailored to potential toll treatment in the Kalgoorlie and Coolgardie areas. Munda is slightly less advanced than Jeffreys Find but is progressing well with an updated estimate of resources underway and discussions with Widgie Nickel Ltd. as to how the nickel and gold resources might be mined in conjunction to reduce development and mining costs. The Guest Prospect represents a potential new resource with RC drilling planned for January to infill the current drilling and extend drilling along strike. Auric's air core drilling has defined targets around Widgiemooltha Dome; the margin of the Widgiemooltha Monzogranite within E15/1583 is ranked highest followed by anomalies near the northern hinge of the dome. The Fugitive Prospect in the Spargoville Project, Like Guest, represents an advanced stage project. The host tenement, E15/1688, remains under application but is expected to progress rapidly with the very recent signing of a heritage agreement with the Marlinyu Ghoorlie native title claim group. Auric is focussed on the Widgiemooltha area and will continue to look at opportunities to acquire other assets in the area. Announcement • Sep 04
Auric Mining Limited Provides Update on Drilling Programs At Widgiemooltha Auric Mining Limited provides an update on drilling programs in the company's Widgiemooltha Gold Project. RC drill programs at the Munda Project and the Guest Prospect commenced in mid-July 2021. The last RC hole in these programs was completed on 27 August 2021. The programs totalled 28 RC holes for 3,116m at Munda and 9 RC holes for 864m at Guest. A combined total of 37 RC holes drilled totalling 3,980m. An air core drilling program is continuing over Auric's Widgiemooltha Gold Project. This includes gold rights over tenements acquired in a recent acquisition from Neometals Limited. As of 1 September 2021, a total of 975 drill holes for 3,691m have been completed with 113 holes remaining to be drilled. A small RC sampling program will be undertaken at Jeffreys Find following the completion of the air core program, likely in mid-September. The samples will be used for metallurgical and comminution testwork to better determine suitability for toll treatment. The exploration industry is experiencing extremely high volumes of samples being processed by assay laboratories, seeing results taking longer than initially estimated to be provided. Auric has been advised that the company should expect turnarounds of the order of 6 weeks from delivery date. Therefore, final results for the RC drilling will be received in mid-October and later for the air core drilling. Announcement • Jul 06
Auric Mining Limited Announces Drill Programs Planned for Munda & Guest Prospect Auric Mining Limited announced that RC drilling programs have been defined for the Munda Gold Project and the Guest Prospect (E15/1583). Drilling will be undertaken by drill contractor K-Drill Pty Ltd, with drilling planned to start on 19 July 2021. Other exploration programs will also be undertaken over the next few months as work intensifies on the newly acquired gold-rights tenements and the Jeffreys Find deposit is further advanced toward potential development. The planned RC program at Munda comprises 28 RC drill holes for 3100m. It will close spacing where appropriate to the nominal 25m x 25m pattern appropriate to resource estimation. The program will also test for a potential new mineralised zone associated with an intercept, AMRC020 of 19m @ 0.72g/t Au from 26m, including 6m @ 1.74g/t Au from 39m. This intercept is approximately 200m northeast of the limit of the current resource estimate. In addition, 4 RC holes drilled by Western Mining Corporation (WMC) will be twinned as part of an ongoing validation program designed to enable conversion of Inferred resources to the Indicated category. With the acquisition of the Neometals gold rights, The Munda Gold Project becomes part of a prospective group of tenements around the Widgiemooltha Dome which will be referred to as the Widgiemooltha Gold Project. The Munda Gold Project includes the Munda gold deposit and comprises mining lease M15/87, together with applications for miscellaneous licences L15/414 and L15/397. The Project is around 5 km west of the settlement at Widgiemooltha. The current Inferred gold resource estimate for the Munda deposit at 0.5g/t cut-off grade is: 3.77Mt @ 1.43g/t for 173,700 oz gold. The Munda gold deposit is hosted within a metabasalt unit and overlying ultramafic flows where they
appear to have been folded into an overturned syncline and occurs in association with carbonate and biotite alteration, with generally sparse sulphide minerals except where nickel mineralisationt is present. The distribution of gold mineralisation is interpreted to be controlled by the intersection of a northwesterly dipping fault or shear and layering in the basalts and ultramafics subparallel to the basalt-ultramafic contact. There have been numerous phases of exploration and resource drilling at Munda since the 1960's. The majority of this work was undertaken by Western Mining Corporation with subsequent programs by six different companies including excavation of a small trial pit by Resolute Mining in 1999. Auric's first drilling program at Munda was completed in March of this year and returned a number of significant intersections at a 0.5g/t cut-off including. Auric recently acquired gold rights from Neometals Limited for E15/1583, including the Guest Prospect. It is associated with several clusters of historic workings, including shafts of unknown age or depth extent. Two phases of shallow drilling have been undertaken with Consolidated Kalgoorlie Gold Mines (CKGM) completing 17 percussion holes for 690m in 1984 and Ramelius Resources Ltd. (Ramelius) completing 61 RC holes for 2056m in 2006. There is no detail available as to the type of percussion drilling employed by CKGM and it is likely that the sampling was via open-hole hammer rather than the Reverse Circulation (RC) method. The deepest drill holes are 46m and 80m in the CKGM and Ramelius drill holes respectively with
average depths 41m and 34m respectively. Geology logs for the CKGM drill holes are not available and around 30% of the Ramelius holes ended in the weathered profile or no more than 5m into fresh rock Locations for the CKGM and Ramelius drill holes. Significant intervals have been defined at a 0.5g/t cut-off, limiting internal dilution of grades below 0.5g/t to 2m. The slightly broader intervals recorded for several CKGM percussion drill holes (GGR prefix) when compared with the Ramelius RC holes (GLRC prefix) may reflect some downhole smearing of grade in those earlier holes. Better intercepts include 8m @ 2.91g/t Au in GGR06 and 2m @ 3.41g/t Au in GGRC0058. Most of the significant intercepts have been defined within the weathered profile where some gold remobilisation has likely occurred such that the geometry of mineralisation is uncertain but interpreted to dip to the northeast in cross sections (figures 4 and 5). The planned RC drill holes have nominal depths of between 80m and 120m and will test for more substantial grades within fresh rock. Aircore drilling programs have been designed to test a number of areas within the newly acquired gold-rights tenements. A total of 20 traverses for almost 6000m of drilling will be complemented where appropriate by small soil sampling programs. Current planning is for drilling to start in August. A metallurgical consultant has designed a small sampling and testwork program to further constrain design parameters for potential treatment of Jeffreys Find gold mineralisation. The samples will be taken via RC drilling which will take place as soon as a rig is available. Announcement • Jun 10
Auric Mining Limited (ASX:AWJ) completed the acquisition of Gold rights across certain tenements in the Widgiemooltha area from Neometals Ltd (ASX:NMT). Auric Mining Limited (ASX:AWJ) executed a binding gold rights sale agreement to acquire Gold rights across certain tenements in the Widgiemooltha area from Neometals Ltd (ASX:NMT) for AUD 0.9 million on April 19, 2021. The consideration amount to be paid in 3,429,691 shares of Auric Mining and cash of AUD 200,000 together with a 1% gross royalty on E15/1583. A nonrefundable payment of AUD 50,000 has already been paid. Settlement is subject to shareholder approval by Auric shareholders. On June 8, 2021, the transaction has been approved by Auric shareholders. The settlement of the transaction is due to take place on June 10, 2021.
Auric Mining Limited (ASX:AWJ) completed the acquisition of Gold rights across certain tenements in the Widgiemooltha area from Neometals Ltd (ASX:NMT) on June 10, 2021. Announcement • Mar 03
Auric Mining Limited Announces Resources Summary and Exploration Update Auric Mining Limited announced its Resource Summary and provide an exploration update following its listing on the Australian Securities Exchange (ASX) on 12 February 2021. The company has begun planned exploration and development activities at the Munda project. To date 14 holes using RC drilling have been completed and 2,170 metres drilled, with a further 1,530 metres remaining to be drilled, for a revised total program of 3,700 metres. All drill samples up to 26 February 2021 have been delivered to Intertek for analysis. Preliminary results are expected to be received from approximately 10 March 2021. The full drill program is expected to be completed by 8 March 2021. The final program results are expected by early April 2021. Furthermore, the company will commence exploration on its Spargoville Gold Project throughout March and April 2021. The company has commenced preliminary activities at Jeffreys Find. The Auric Projects comprise two gold exploration and development projects and one exploration project in the West Australian goldfields, in an area extending from 35 km southwest of Kambalda to 45 km northeast of Norseman. Munda at the centre of the company's projects is less than one hour's drive from the mining centre of Kalgoorlie and gives Auric enviable access to mining infrastructure, support services, contractors and an experienced workforce. Auric hold the rights to all minerals at the Jeffreys Find and Spargoville Projects. At Munda, rights to nickel and lithium minerals are held by Neometals Limited with Auric holding the rights to all other minerals including gold. The Munda Gold Project is an advanced project approximately 5 km west of Widgiemooltha. It is situated on a mining lease M15/87, together with applications for miscellaneous licences L15/414 and L15/397. There have been numerous phases of exploration and resource drilling at Munda since the 1960's. The majority of this work was undertaken by Western Mining Corporation with subsequent programs by six different companies including excavation of a small trial pit by Resolute Mining in 1999. The Munda gold deposit is hosted within basalts and overlying ultramafic flows and occurs in association with carbonate and biotite alteration, with only rare sulphide minerals except where nickel mineralisation is present. The distribution of gold mineralisation is interpreted to be controlled by the intersection of a south-easterly dipping fault or shear, and layering in the basalts and ultramafics subparallel to the basalt-ultramafic contact. A drilling program currently underway is testing potential extensions to known gold mineralization along the basalt-ultramafic contact and along the mineralised structure together with several locations where existing sampling indicates that other, distinct zones of gold mineralisation may be present. Announcement • Feb 12
Auric Mining Limited has completed an IPO in the amount of AUD 7.256417 million. Auric Mining Limited has completed an IPO in the amount of AUD 7.256417 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 29,025,667
Price\Range: AUD 0.25
Discount Per Security: AUD 0.015