Auric boosts gold bounty 50% with bargain WA buy

With the acquisition of Union Jack, Auric is piecing together a classic hub-and-spoke production model around its Coolgardie resources.

The company has already completed a successful starter pit campaign at its flagship Munda gold project, which tipped 8886 ounces of gold, generating $44.8 million in revenue. Planning for the larger Munda main pit is now underway, following recent successful drilling to expand the shallow resources.

The addition of Union Jack to Auric’s suite of Eastern Goldfields assets provides yet another potential ore source to feed the centralised Burbanks mill as the company looks to become a fully integrated WA mining house.

Auric looks to be steadily turning its proven hub-and-spoke strategy into an Eastern Goldfields success story. Cashed up from its first mining campaign, every new shallow ounce now adding weight to the model and Burbanks waiting at the centre of the wheel, the company is building the scale to turn a collection of gold deposits into something considerably bigger than the sum of its parts.

Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au