Auric Mining (LWJ) Q4 2024 TU earnings summary

Executive summary

• Stage Two mining at Jeffreys Find produced 14,853 ounces of gold up to 13 January 2025, with total production reaching 24,594 ounces including Stage One. Gold sales generated $58.7 million at an average price of AUD $3,952 per ounce. Mining at Jeffreys Find was completed on 28 January 2025.

• Updated Mineral Resource and Pre-feasibility Study at Munda defined 7,400 ounces of Probable Ore Reserves for a Starter Pit, with mining expected to commence in March 2025 pending permit approvals.

• Significant RC drilling results at Spargoville, including 7m at 4.88g/t Au and 2m at 10.69g/t Au, highlight strong potential for economically viable deposits.

• Entered into a letter agreement to acquire the Burbanks Gold Processing Plant for A$4.4 million, providing 180,000 tpa capacity and critical infrastructure.

• Ended the quarter with $3.6 million in cash, with additional cash received from gold sales in January 2025.

Financial highlights

• Gold sales for the quarter totaled $58,696,144, with an average sale price of A$3,952 per ounce.

• Interim cash distributions from Jeffreys Find reached A$6,600,000 up to 13 January 2025, with further distributions expected.

• Munda Starter Pit PFS projects revenue of $21.4M, operating costs of $15.2M, and an undiscounted cash flow of $5.3M at an AISC of $2,635/oz.

Outlook and guidance

• Mining at Munda Starter Pit expected to begin in March 2025, subject to permit approvals.

• Further RC drilling planned at Spargoville in 2025 to test mineralisation trends.

• Burbanks Gold Processing Plant acquisition expected to settle by 15 March 2025, pending due diligence.