Auric Mining (AWJ) Q3 2024 TU earnings summary

Executive summary

• Completed second processing campaign at Jeffreys Find, processing 127,610 tonnes at 1.65g/t, yielding 6,295 ounces and $23.48M in revenue at AUD $3,731/oz; total project production now 17,292 ounces.

• Third and fourth processing campaigns scheduled for November 2024, targeting up to 262,000 tonnes combined.

• Secured nickel and lithium rights at Munda, enhancing project potential and water access.

• Strong financial position with $4.3 million in cash at quarter end; new office premises acquired.

Financial highlights

• Gold sales from the second campaign totaled $23.48M at an average price of AUD $3,731/oz; highest price achieved was AUD $3,859/oz.

• Stage Two mining produced 7,551 ounces; combined with Stage One, total output is 17,292 ounces.

• BML generated $27.95M in cash proceeds from Stage Two; $2.0M cash distribution received and $1M working capital advance repaid.

• Cash balance at quarter end was $4.3M.

Outlook and guidance

• Third processing campaign at FMR's Greenfields Mill starts 28 November 2024, targeting 142,000 tonnes.

• Fourth campaign at Three Mile Hill Plant begins 7 November 2024, targeting 50,000–120,000 tonnes.

• Munda resource update and trial pit design nearing completion; infill drilling set for Q4 2024.

• Mining Proposal and Mine Closure Plan for Munda to be submitted in November.