Auric Mining Limited (ASX: AWJ) has concluded a transformative year, reporting a net profit after tax of $5.17 million for the financial year ending 31 December 2025 – representing a 92% increase from the $2.69 million achieved in the previous year. This result marks the Company’s third consecutive year of profitability and underscores a strategic evolution from joint-venture participant to a fully independent standalone gold producer.
A Year of Milestones: Revenue Soars 144%
The Company’s headline numbers tell a compelling story of rapid scaling. Total revenue surged 144% to $20.62 million, up from $8.45 million in 2024, powered by a strong combination of final receipts from the Jeffreys Find Gold Mine and initial gold sales from the Munda Gold Mine. Free cash flow climbed 129% to $6.50 million, while total assets grew 61% to $34.8 million.
Key Financial Performance — FY2023 to FY2025
The Company completed equity raisings totalling $6.66 million during the year to support project acquisitions and development activities, being the acquisitions of Burbanks Plant and Lindsay’s Gold Project— positioning it firmly for the next phase of growth.
Key achievements at a glance:
- Net Profit After Tax: $5.17 million (up 92%)
- Total Revenue: $20.62 million (up 144%)
- Free Cash Flow: $6.50 million (up 129%)
- Total Assets: $34.77 million (up 61%)
- Total Equity: $29.75 million (up 66%)
Munda Gold Mine: The Engine of Future Growth
The standout operational achievement of 2025 was the commencement of Auric’s own mining operations at the Munda Gold Mine Starter Pit in May 2025. By year’s end, the pit had advanced to approximately 30 metres below surface, with around 300,000 bank cubic metres of ore and waste material extracted.
The Company executed a toll milling and ore purchase agreement with Black Cat Syndicate Ltd, enabling processing of up to 125,000 tonnes of ore at the Lakewood Mill. The first parcel of approximately 60,000 tonnes commenced processing in October 2025, and the first gold pour was achieved on 21 October 2025, a significant milestone marking the Company’s transition from a joint-venture partner to an independent gold miner.
“During the year, Auric commenced mining at the Munda Gold Project, with ore processed through the first toll milling campaign at Black Cat Syndicate’s Lakewood Mill. This represents a significant milestone, marking Auric’s transition into mining operations in its own right.”
— Mark English, Managing Director
A second processing campaign covering a further 65,000 tonnes commenced in January 2026. Post-period gold sales from processed Munda ore have already totalled approximately $45 million — a number that reinforces the Starter Pit’s strong economics and the broader deposit’s considerable potential.
Figure 1: Ground-level photograph of the Munda Gold Mine Starter Pit, showing mining operations in progress [Auric Mining]
Jeffreys Find: A Highly Successful Exit
The Jeffreys Find Gold Mine, operated under a joint mining arrangement with BML Ventures Pty Ltd completed its eighth and final toll milling campaign in August 2025. Over the life of the operation, a total of 29,537 ounces of gold were produced, generating approximately $112 million in total gold sales. Auric’s cumulative cash receipts from this arrangement reached approximately $14.5 million, with a further $2.2 million final profit share payment received in March 2026.
The Project delivered strong returns relative to the Company’s initial capital contribution and demonstrated the effectiveness of Auric’s disciplined approach to joint venture mining agreements. Following the handback of all operational activities by BML Ventures Pty Ltd, the Project is now formally complete.
Burbanks Processing Facility: A Strategic Acquisition
On 30 September 2025, Auric completed the acquisition of the fully permitted Burbanks Gold Processing Facility for $4.4 million plus GST. Located south of Coolgardie, the plant comes with established grid power, water licences, permitted facilities, and tailings infrastructure.
The acquisition moves the Company meaningfully toward its goal of becoming a vertically integrated gold producer. Engineering and technical studies to assess recommissioning and potential expansion options commenced following settlement, with a view to processing ore from Munda, the Lindsay’s Gold Project, and other nearby assets.
“The acquisition of the Burbanks Processing Facility will provide Auric with long-term processing capacity and supports our strategy to become a fully integrated gold producer.”
— Mark English, Managing Director
Figure 2: Exterior photograph of the Burbanks Gold Processing Facility near Coolgardie, Western Australia [Auric Mining]
Balance Sheet Strength and Outlook
The Company’s financial position has materially strengthened. With $6.50 million in cash and cash equivalents at year end, zero debt outstanding, and a robust equity base of $29.75 million, Auric enters 2026 with significant financial flexibility.
The Lindsay’s Gold Project acquisition continues to progress, with conditions precedent including resolution of pending Wardens Court proceedings still outstanding. The Company also acquired highly prospective tenements in the Higginsville district during the year, further expanding its portfolio across the Widgiemooltha–Norseman region.
Operational highlights supporting the outlook:
- Campaign 2 at Munda is well underway, with ore processed in February and March 2026
- Post-period gold receipts from Munda already total approximately $45 million
- Burbanks facility advancing toward recommissioning and potential expansion studies
- Growing tenement portfolio across Higginsville, Spargoville, and Chalice West
- Lindsay’s Gold Project acquisition progressing through conditions precedent
“With a strong balance sheet, increasing production profile, and exposure to a favourable gold price environment, Auric is well positioned for continued growth in 2026 and beyond. This has been another outstanding year for the Company and our shareholders.”
— Mark English, Managing Director
Figure 3: Auric Mining Project locations along with the locations of Burbanks Processing Facility and Lindsay’s Gold Project in Western Australia [Auric Mining]
Investor Outlook
AWJ has meaningfully outperformed the ASX 200 over the past 12 months, more than doubling from its August 2025 low of $0.145 to reach a 52-week high of $0.405 in March 2026. The stock closed at $0.31 on 30 March 2026, reflecting a market capitalisation of $58 million against a total equity base of $29.75 million.
Figure 4: Share price performance of Auric Mining in the last 12 months [Auric Mining]
With Campaign 2 at Munda progressing and post-period gold receipts already reaching $45 million, Auric Mining presents a robust growth narrative. The advancement of the Burbanks facility and an expanding tenement portfolio provide a solid foundation for continued value creation. Auric’s sustained profitability and disciplined capital management position it as a key player in the Western Australian gold sector through 2026 and beyond.
Disclaimer: This editorial is prepared for informational purposes only and is based on publicly available announcements made by Auric Mining Limited (ASX: AWJ) to the Australian Securities Exchange on 30 March 2026. It does not constitute financial product advice, investment advice, or a recommendation to buy, sell, or hold any security. Past financial performance is not a reliable indicator of future results. Readers should conduct their own independent research and seek advice from a licensed financial adviser before making any investment decisions. The author and publisher accept no liability for any loss or damage arising from reliance on the information contained in this article.
Last modified: March 31, 2026
