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Bill McConnell
ASX-listed Auric Mining has posted a $5.2 million net profit for the 2025 financial year, capping off a breakout period that saw the company surge into the ranks of bona fide gold producers on the back of its Munda and Jeffreys Find operations.
Revenue rocketed 144 per cent to $20.6M, while free cash flow climbed 129 per cent to $6.5M, underscoring the company’s rapid transition from explorer to cash-generating miner. Total assets also jumped 61 per cent to $34.8M, reflecting a balance sheet that has bulked up considerably over the past 12 months.
The result marks Auric’s third consecutive profitable year, with management pointing to disciplined execution and a growing production base as the key drivers behind the performance.
‘For the third consecutive year, Auric has delivered a profitable result.’
Auric Mining managing director Mark English
The financial step-up was underpinned by Auric’s first mining and toll milling campaign at its Munda gold mine near Widgiemooltha in Western Australia, which delivered a maiden gold production and sales late in the year.
Auric Mining managing director Mark English said: “For the third consecutive year, Auric has delivered a profitable result, reporting a $5.2 million net profit after tax for the financial year ending 31 December 2025. Revenue growth of 144% and strong free cash flow generation demonstrate the Company’s successful transition into a cash-generating gold producer.”
Mining at Munda kicked off in mid-2025, with ore processed through Black Cat Syndicate’s Lakewood mill and the first gold pour achieved in October.
Subsequent updates showed the Munda starter pit didn’t just meet expectations, rather it ran straight past them. Final results from the operation delivered 8,886 ounces of gold representing a punchy 46 per cent above the original 6100-ounce budget, with head grades and recoveries both outperforming forecasts.
Auric also managed to sell all bullion from the campaign at an average price of $7178 per ounce, helping swell its cash, bullion and receivables position to more than $43 million by late March.
The earlier Jeffreys Find joint venture, which wrapped up in 2025, also played a key role in building that war chest. Across the life of the project, more than 29,500 ounces of gold were produced, generating $82 million in sales and delivering Auric roughly $16.5 million in cash distributions from an incredibly modest $1.2 million initial investment.
Those two operations appear to have done the heavy lifting in flipping Auric from a junior explorer into a miner with cash flow and options.
Notably, the company has also been laying down the plumbing for what comes next. During the year, it acquired the Burbanks gold processing facility near Coolgardie, giving it a pathway to secure its own long-term treatment capacity rather than relying solely on third-party mills.
Management believes the move will support a broader strategy of becoming a vertically integrated gold player, with Munda, its newly acquired Lindsay’s gold project and nearby assets potentially feeding the plant down the track.
Auric now finds itself in an interesting spot. It has cash in the bank, a producing asset that has already shown it can outperform and infrastructure that could bring more of the value chain in-house.
If the Munda main pit ends up looking anything like the starter pit has hinted at and the processing capacity comes together as planned, the company may have quietly built the foundations for something with quite a bit more scale than where it started.
Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au
