Auric Executes Munda Toll Milling and Ore Purchase Agreement

Auric Mining (ASX: AWJ) has executed a toll milling and ore purchase agreement with Black Cat Syndicate (ASX: BC8) to process the Starter Pit ore from the Munda Gold Mine at the Lakewood Mill in Kalgoorlie, Western Australia.

The agreement provides for a maximum quantity of 125,000 tonnes to be processed, which should see all the ore from the Starter Pit processed at the Lakewood Mill.

Munda resources (Indicated and Inferred) are estimated at 3.65M tonnes containing 145,000 ounces of gold at a 0.5g/t cut-off. The company is projecting 125,000 tonnes of ore will be extracted from the Starter Pit at an estimated grade of 1.8g/t Au, to produce 6,100 ounces (after recovery) of gold.

Mining the Starter Pit will take approximately five months to complete, with estimated completion date in October/ November this year.

The first parcel is expected to be processed in October this year, with a minimum parcel of 40,000 tonnes. The parties expect another one or two parcels will be processed between November 2025 and January 2026.

Once the Starter Pit is completed, Auric then intends to complete detailed planning and scoping for the Munda Main Pit. Auric anticipates commencing this work around Q2/2026.

Auric is very happy entering into this agreement with Black Cat and see this as being extremely beneficial to both companies, providing outcomes that we both need.

“This was the last major missing piece to enable us to finish the mining, processing and sale of all the gold from the 2025 Starter Pit,” Managing Director, Mark English, said.

“After the recent first blast at our Munda Gold Mine at Widgiemooltha, mining is now well underway. Executing this agreement with Black Cat to process the Munda ore at their Lakewood Mill, just 100 kms away is a fantastic result for us.

“Having a home for the Munda ore will enable Auric to monetise all the ounces from the Starter Pit. We expect that all ore produced should be processed by 31 January 2026, and final Auric proceeds received by 28 February 2026.

“This is a fantastic outcome for all our shareholders and will be a pivotal growth moment for Auric,” said Mr English.