Auric Mining has outlined an ambitious growth strategy targeting production of 25,000 to 30,000 ounces of gold annually commencing January 2028, positioning itself as Australia’s next integrated mining house. The Singapore roadshow presentation, delivered on 13 April 2026, reveals a company that has already achieved significant operational milestones and now stands at an inflection point in its development trajectory. With recent sales generating $64 million from Munda Gold Mine in March 2026 and a strategic portfolio of assets across the Kalgoorlie region, Auric appears well-positioned to transition from early-stage producer to sustainable operations.
The company’s financial position underpins its growth narrative. Auric holds $49 million in cash and real estate with an additional $3 million undrawn debt facility, providing substantial capital flexibility for the next phase of development. The market capitalisation of $67 million against this asset base suggests the market has not yet fully priced in the company’s production trajectory. With 187 million shares on issue and 10.5 million unlisted options outstanding, the capital structure appears relatively clean for a junior mining operation at this stage of maturity.
Operationally, Auric’s recent history demonstrates execution capability. The company commenced toll treatment at Lakewood Mill in October 2025 and completed the starter pit mining at Munda in February 2026, validating its strategy of acquiring near-term production assets while building a processing facility to accelerate growth. The recent completion of the Burbanks Mill acquisition in September 2025 represents a critical strategic asset that provides processing infrastructure independent of third parties. This vertical integration supports the company’s stated objective of controlling its destiny from exploration through to production.
The Kalgoorlie focus warrants attention from investors seeking exposure to Western Australia’s established mining infrastructure. The company controls nine granted mining leases across 521 square kilometres with 73 tenements in total, providing a substantial exploration and development pipeline. The portfolio includes the Widgiemooltha Gold Project, Jeffreys Find Gold Mine, and the recently acquired Lindsay’s Project, amongst others, offering multiple pathways to resource expansion alongside production growth.
The board composition reflects appropriate experience for a mining company at this juncture. Mark English brings 45 years in the resources sector as Managing Director, while Technical Director John Utley contributes 40 years of gold sector expertise. Non-Executive Chairman Steven Morris adds financial markets experience and a track record of board positions at ASX-listed companies, including previous directorship of De Grey Mining. This combination suggests both operational capability and governance discipline.
Investors should monitor progress toward the January 2028 production guidance, tracking quarterly updates on mining rates, processing throughput, and capital deployment. The execution of exploration programs across the tenement portfolio will also indicate whether Auric can achieve its stated objective of expanding gold resources organically. This announcement is price sensitive and has been flagged as material by the ASX.
View the full ASX announcement (PDF)
About Auric Mining Limited (ASX: AWJ)
Auric Mining Limited engages in exploration, development, mining, and production of gold in Australia, with additional exploration for nickel, lithium, and rare earth elements. The company operates its flagship Jeffreys Find gold mine in the Goldfields region of Western Australia, along with multiple gold projects in the Widgiemooltha area.
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