English added that the company has built its playbook on one simple truth: the best money is made when you buy smart. Pointing to its Jeffreys Find gold mine in WA as proof, Auric turned a modest investment into a 10-bagger within just four years. Now, with Burbanks snapped up for a rock-bottom price, he believes the stage is set for history to repeat itself.
Auric says the facility could become a regional hub for the region. The plant sits right in the heart of WA’s Goldfields, just a stone’s throw from its own tenements, opening the door to big cost savings.
The company also sees a golden side hustle in the making by opening Burbanks up to third-party miners keen to process their ore, thereby unlocking a lucrative new revenue stream through toll treating.
Ownership of milling infrastructure also means the company is no longer at the mercy of external toll treatment providers, which can be a bottleneck in times of rising gold prices or operational competition. Other toll treatment operators in the region are thought to be at capacity for the next few years.
With gold smashing fresh records above $5850 an ounce, Auric’s timing looks nothing short of impeccable.
The company has long declared its ambition to evolve into a fully integrated, sustainable gold producer – and after the runaway success of Jeffreys Find and the bargain buy of Burbanks, that vision is rapidly shifting from aspiration to glittering reality.
Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au
