Auric Mining (LWJ) Q1 2025 TU earnings summary

Executive summary

• Stage Two mining at Jeffreys Find completed, with total production reaching 27,653 ounces of gold and sales surpassing $100 million; 60,000 tonnes of ore remain for processing in July 2025.

• Munda Gold Project advanced with approvals secured and site preparation underway for a Starter Pit; mining fleet mobilized and personnel employed.

• Acquisitions of Lindsay's Project and Loded Dog tenements expand resource base and exploration targets, with Lindsay's offering near-term mining potential.

• Due diligence completed for Burbanks Gold Processing Plant acquisition, expected to settle in late Q2 2025, providing strategic milling infrastructure.

Financial highlights

• $8.1 million received from gold sales at Jeffreys Find Stage Two, with final surplus cash from Stage Two projected at $11–12 million.

• Average gold sale price for Stage Two was $4,024/oz, with the highest at $4,625/oz.

• Gross gold revenue from Jeffreys Find to date is $105.2 million.

• Cash balance at quarter end was $7.5 million.

Outlook and guidance

• Processing of remaining Jeffreys Find ore scheduled for early July 2025, expected to push total production above 30,000 ounces.

• Munda Starter Pit mining to commence following site preparation, with a probable ore reserve of 125,000t @ 1.8g/t for 7,400 contained ounces.

• Burbanks Plant acquisition to provide future processing capacity and commercial flexibility.