Auric Mining (ASX:AWJ) has commenced the relevant activities to facilitate open pit mining at the Munda gold mine in Western Australia, where it expects to extract 125,000 tonnes of ore at an estimated grade of 1.8 grams per tonne.
Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.
Plant and equipment – including a dry hire fleet – have been mobilising at the mine to develop the starter pit; the project is expected to take six months to complete at the site, which is five kilometres from Widgiemooltha.
“Our whole team is full of optimism and excited to commence the Munda Gold Mine Starter Pit,” Auric’s managing director Mark English said.
Also completed: The survey mark-out of the pit crest, haul road, waste dump, ROM pads, and site office.
These developments follow approvals from the WA Government’s Department of Energy, Mines, Industry Regulation and Safety (DEMIRS) for the Munda Starter Pit Mining Proposal and Mine Closure Plan.
“Munda is our major asset; containing a sizeable gold resource. We will start conservatively with a target to mine 125,000 tonnes of ore, producing around 6,100 ounces of gold at a projected AISC of A$2,635 per ounce,” Mr English explained.
More market news
Kowtow: “Biggest day in financial history” on Trump’s tariffs retreat
Meet GeoGeorge: The HotCopper poster so accurate he got hired as an analyst
Auric’s MD continued: “We are right on schedule and have mobilised all the necessary machinery and infrastructure.
“Earthworks have commenced, we will begin mining in a few days.”
AWJ has been trading at 24.5 cents this morning.
Join the discussion: See what HotCopper users are saying about Auric Mining and be part of the conversations that move the markets.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.