With the court date literally tomorrow, Auric could have the entire Lindsay’s package wrapped up before Christmas for the original price – or keep the four core tenements and walk away only having spent peanuts if things go pear-shaped.
Auric Resources managing director Mark English said: “We are absolutely delighted to have inked this deal with Top Global Mining including for the immediate acquisition of four tenements which combined are a key aspect of the Lindsay’s Gold Project. Add in all these Lindsay’s tenements and undoubtedly it is a further significant step toward fulfilling our ambitions through securing a package that we have been relentless in acquiring over the past year.”
The company has recently banked $14.6 million gross from just 2355 ounces from 58,000 tonnes at its flagship Munda asset, Auric says it still has another 65,000-tonne parcel booked for processing at the nearby Lakewood Mill for mid-January for an expected 4391 ounces.
Munda’s starter pit keeps churning out cash at an all-in sustaining cost of just $2635 an ounce against gold prices still north of A$6000 – margins that make the original $3500 an ounce modelling look like it was done in the dark ages.
Below that starter pit sits the much larger resources of 3.65 million tonnes at 1.23 grams per tonne (g/t) gold for 145,000 ounces, potentially swelling to 189,000 ounces at a lower grade cut-off for current day gold prices.
With cash already flowing from Munda and most of the Lindsay’s ground in the bank, Auric is finishing 2025 exactly how it started the year, moving fast, spending smart and expanding its ounces on a mission to become a self-sustained WA gold producer.
Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au
