Auric Mining (ASX:AWJ) has completed the first gold pour from the Munda Starter Pit in Western Australia, with the initial gold sales expected by the end of October 2025.
The company anticipates cash flowing in mid-November.
This news comes as gold prices have broken several records this month, surpassing JP Morgan’s predictions of US$4,000 per ounce by the second quarter of 2026.
Earlier this month, gold touched a high of US$4,357 per ounce, before dipping on Tuesday (21 October) as much as 6.2% to around US$4,100 per ounce – representing the biggest drop since April 2013.
Trading Economics reports the decline came as profit-taking accelerated and the US dollar strengthened, while safe-haven demand eased amid improving global sentiment.
With the Starter Pit campaign completed, Auric has begun detailed planning and scoping for the Munda Main Pit. The work is scheduled to begin in Q1 2026.
The Main Pit represents an opportunity for the company to expand production and reinforce Auric’s ambition to build into an integrated, sustainable gold producer.
Managing Director Mark English says the first pour puts the company ahead of schedule at the Lakewood Mill.
“With an agreement in place with Black Cat Syndicate (ASX:BC8) to process 60,000 tonnes of our high-grade Munda ore during this first campaign will see a great finish to the year,” English says.
“Black Cat will process a further 65,000 tonnes from January setting us up for an excellent start to 2026.”
Auric Mining is focused on accelerating gold production from its mines located in the Goldfields of Western Australia.
Write to Aaliyah Rogan at Mining.com.au
Images: Auric Mining
