Auric Mining (AWJ) Q3 2026 TU earnings summary

Executive summary

• Integrated Burbanks-Munda Scoping Study envisages a 600ktpa CIL plant processing Munda ore, with first gold targeted for early 2028 after approvals and construction.

• September-quarter activity focused on Munda drilling, Burbanks plant readiness and the Union Jack acquisition; mining was not conducted during the quarter.

Financial highlights

• H1 FY2026 revenue was A$44.8M, net profit before tax A$28.0M, net profit after tax A$19.3M and EPS 10.29 cents; H1 FY2025 revenue was A$0.34M and net loss after tax A$0.18M.

• H1 net operating cash flow was A$33.8M; cash at 30 June was A$38.0M and total assets were A$62M.

• H1 production was 6,168oz, taking cumulative Munda Starter Pit output to 8,886oz at AISC of A$2,857/oz.

• Cash and cash equivalents were A$33.05M at 30 September, after A$2.71M exploration spend and A$1.20M Burbanks plant-equipment purchases during the quarter.

Outlook and guidance

• Integrated study forecasts 141koz recovered over 56 months at the A$5,750/oz base case, with AISC A$2,843/oz and EBITDA A$437M.

• Approvals are expected in early 2027; Burbanks construction is planned thereafter, mining at Munda is targeted to recommence in late 2027, and first gold is targeted for early 2028.

• Ore Reserve publication was expected in October 2026 following geotechnical work, optimisation and pit design.

• The study targets annual production of 25–40koz in the first four years; plant design can be expanded from 600ktpa to 1.2Mtpa through staged upgrades.