Auric Mining (ASX:AWJ) has acquired all nickel and associated mineral rights, water access rights, and a fully equipped mining camp relating to the Munda Gold Mine in Western Australia from WIN Metals (ASX:WIN), for $1.4 million.
WIN’s package includes 7,620 tonnes of nickel and provides exclusive access to water from the 132N open pit for seven years with no associated usage charges.
The two-tranche payment includes $900,000, which was paid on 30 June 2025, and $500,000, which is due on or before 31 July 2025.
Upon completion, Auric will own all mineral rights at Munda except lithium. The lithium mineral rights will remain with WIN.
Auric, which has a market capitalisation of $29.75 million, says this milestone agreement enhances its mining operations at Munda.
Munda is a major asset for Auric and contains a resource of 145,000 ounces of gold. The company is focused on the Starter Pit which aims to produce 6,100 ounces of gold from 125,000 tonnes mined.
Managing Director Mark English says this deal gives the company greater control over its destiny for open pit mining.
“We’ve moved mining at Munda along rapidly this year and are pleased this hurdle to progress our future expansion will be removed,” English says.
“There’s not much water around Widgiemooltha, so as part of this transaction, we are acquiring additional access to stored water in the 132N pit.
“Having adequate water is extremely important for our mining operations. The mining camp is another huge bonus for Auric being located just six kilometres north of our mine.”
WIN Metals CEO Steve Norregaard says this transaction delivers funding for work programs at the Butchers Creek Gold Project.
“The Munda nickel deposit is a non-core asset for WIN that does not feature in short to medium term development of the Mt Edwards Nickel Project,” Norregaard says.
“With this transaction WIN preserves the lion’s share of nickel at Mt Edwards whilst meeting key objectives for both parties.”
WIN Metals is a mineral developer that holds 340km2 of granted tenure in the Southern Goldfields and Kimberley regions of Western Australia.
Auric Mining is a gold-focused company that aims to produce one million ounces of gold in Western Australia.
Write to Aaliyah Rogan at Mining.com.au
Images: Auric Mining
