Auric Mining Produces 8,886 Ounces at Munda Starter Pit, 46% Above Expectations, Shares Down 8%

MT Newswires Live

Mar 19

Auric Mining (ASX:AWJ) said it produced 8,886 ounces from the Munda starter pit in Western Australia, 46% above expectations, according to a Thursday Australian bourse filing.

The company said the final gold-in-circuit calculation of 411 ounces was completed in Campaign Two, which commenced in late January and ran through February 17, with 68,154 tonnes of ore treated at the Lakewood Mill.

A total of 126,000 tonnes were processed at an average head grade of 2.46 grams per tonne, compared with 3.18 grams per tonne in Campaign Two, the filing added.

Average total recovery was 89.5%, compared with 88.67% in Campaign Two, confirming Munda as a substantial gold resource, the company said.

Cash, bullion, and listed investments totalled AU$43.0 million as of March 18, the filing added.

The company's shares were down 8% in recent Thursday trade.

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