Auric Mining to process ore at Lakewood Mill under new agreement

GlobalData

Mon, Jul 7, 2025, 10:10 AM 2 min read

Auric Mining has announced the execution of a toll milling and ore purchase agreement with Black Cat Syndicate for the processing of ore from the Munda Gold Mine at the Lakewood Mill in Kalgoorlie, Western Australia.

Signed on 4 July 2025, the contract allows for up to 125,000t of ore to be processed, effectively covering the entire Starter Pit output.

The Munda Gold Mine's resources, comprising both Indicated and Inferred categories, are estimated at 3.65 million tonnes (mt) with a total gold content of 145,000oz, based on a 0.5g/t cut-off.

Auric projects that 125,000t of ore will be extracted from the Starter Pit, with an anticipated grade of 1.8g/t Au, which is expected to yield approximately 6,100oz of gold after recovery processes.

The development of the Munda gold mine began in April, with the mobilisation of necessary plant and equipment.

The Western Australia Government's Department of Energy, Mines, Industry Regulation and Safety approved the mining proposal and mine closure plan for the Munda Starter Pit.

The mining of the Starter Pit is projected to span five months, aiming for completion around late 2025.

The first batch of ore is scheduled for processing in October, with a minimum of 40,000t. Subsequent batches are anticipated between November 2025 and January 2026.

Following the completion of the Starter Pit, Auric plans to focus on the Munda Main Pit, with detailed planning and scoping set to start around the second quarter of 2026.

Auric Mining managing director Mark English said: “This was the last major missing piece to enable us to finish the mining, processing and sale of all the gold from the 2025 Starter Pit.

“After the recent first blast at our Munda Gold Mine at Widgiemooltha, mining is now well underway. Executing this agreement with Black Cat to process the Munda ore at their Lakewood Mill, just 100km away, is a fantastic result for us.

“Having a home for the Munda ore will enable Auric to monetise all the ounces from the Starter Pit. We expect that all ore produced should be processed by 31 January 2026, and final Auric proceeds received by 28 February 2026.”

"Auric Mining to process ore at Lakewood Mill under new agreement" was originally created and published by Mining Technology, a GlobalData owned brand.

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