Auric Mining Sets Toll Milling in Motion at Lakewood, First Gold Revenue Imminent

Auric Mining Advances Toward Production Milestone

Auric Mining Limited (ASX, AWJ) has announced a significant operational step with the commencement of a toll milling campaign at Black Cat Syndicate’s Lakewood Mill, scheduled to begin around 24 October 2025. This campaign will process 60,000 tonnes of high-grade ore extracted from Auric’s Munda Starter Pit, marking the company’s transition from development to revenue generation.

The Munda Starter Pit mining operation, which began earlier in 2025, is expected to wrap up by October or November. The toll milling arrangement, formalised through an agreement with Black Cat in July, allows Auric to process up to 125,000 tonnes of ore at Lakewood Mill. This approach offers a cost-effective solution to monetise ore without the immediate need for Auric to invest in its own processing infrastructure.

Strategic Partnerships and Operational Readiness

To facilitate the campaign, Auric has engaged JT Metallurgical Services Pty Ltd to oversee milling operations and contracted TLL Haulage Solutions Pty Ltd for ore transportation. With 40,000 tonnes already stockpiled on the Munda ROM pad as of mid-September, the company is well-positioned to begin haulage and milling activities on schedule.

Managing Director Mark English emphasised the importance of this milestone, noting that the toll milling agreement not only unlocks near-term cash flow expected by late November but also lays the groundwork for Auric’s broader ambitions. The company plans to initiate detailed planning and scoping for the larger Munda Main Pit in the second quarter of 2026, aiming to expand production and establish itself as a sustainable mid-tier gold producer.

Looking Ahead, Growth and Value Creation

This initial toll milling campaign represents a pivotal moment for Auric, demonstrating its ability to convert exploration success into tangible financial returns. The arrangement with Black Cat Syndicate also reflects a collaborative approach within the Western Australian gold mining sector, leveraging existing infrastructure to accelerate production timelines.

While the announcement stops short of disclosing detailed financial terms or cost structures, the clear timeline and operational readiness signal confidence in Auric’s execution capabilities. Investors will be watching closely for the first cash flows in November and subsequent updates on the Munda Main Pit development, which could significantly enhance Auric’s production profile and market standing.