AWJ: Auric Consolidates Munda Gold Mine with WIN Purchase
Released
Released
Announcement PDF
ANNOUNCEMENT TO THE AUSTRALIAN SECURITIES EXCHANGE
1 JULY 2025
Munda Gold Mine
Purchase of Mine Camp, Nickel Rights
and Water Assets from WIN Metals
Highlights
•
This milestone agreement considerably enhances Auric’s mining operations at its
Munda Gold Mine.
•
Acquisition includes a fully equipped mining camp and all related assets six
kilometres from Munda Gold Mine.
•
All Nickel rights and entitlements will be owned by Auric.
•
Sole access and usage of stored water in the 132N pit by Auric.
•
Total purchase price $1.4 Million (ex GST), payable in two tranches: Tranche 1
$900,000 paid 30 June 2025, Tranche 2 $500,000 due 31 July 2025.
Management Comment
Managing Director, Mark English, said: “This acquisition gives Auric greater
control over our destiny for open pit mining at our Munda Gold Mine.
“Buying all nickel rights from WIN sees us taking another major step forward at
Munda. We’ve moved mining at Munda along rapidly this year and are pleased this
hurdle to progress our future expansion will be removed.
“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.
“We have reached a highly satisfactory agreement for all Auric shareholders,” said
Mr English.
Auric Mining Limited
ACN 635 470 843
Level 1, 1 Tully Road, East Perth WA 6004
PO Box 1057, Joondalup DC WA 6919
info@auricmining.com.au
08 9548 9997
auricmining.com.au
ASX: AWJ
ANNOUNCEMENT TO THE AUSTRALIAN SECURITIES EXCHANGE
1 JULY 2025
WIN Metals. Managing Director and CEO, Steve Norregaard, said: “WIN
wish Auric all the best with their Munda gold project development.
“Proposed Nickel mining at Munda was not contemplated in WIN’s 2024 scoping
study and as such would have been far into the future for the Mt Edwards Nickel
Project. With the outlook of a prolonged subdued nickel price the opportunity to
monetise a relatively small portion of the total projects nickel resource base will
provide cash for investment into WIN’s gold assets. This is a transaction that makes
sense for both companies,” said Mr Norregaard.
The Announcement
Auric Mining Limited (ASX: AWJ) (Auric or the Company) together with WIN Metals
Ltd (ASX: WIN) (WIN Metals or WIN) are pleased to announce that the two parties
have successfully agreed to the purchase of a package of WIN assets including all
nickel and associated minerals rights, water access rights and a fully equipped
mining camp all relating to Auric’s Munda Gold Mine.
The total consideration is $1.4 million, (ex GST) payable in two separate tranches:
the first tranche of $900,000 paid on 30 June 2025, the second, $500,000 due on or
before July 31, 2025.
Included in the purchase is a fully equipped mining camp located six kilometres
north of the Munda Gold Mine sufficient to house the entire workforce. Additional in
the deal, Auric has also acquired sole access to all the water in the pit at 132N, just
a short distance from the Munda mine.
Auric will at completion own all mineral rights at Munda, except lithium. The lithium
mineral rights remain with WIN.
Upon completion of both tranches, on or before 31 July 2025, Auric will have paid
WIN a total of $1.4 million (ex GST), for the mining camp, which includes all
associated infrastructure such as solar panels, generators, bulk fuel storage, storage
containers together with water rights to the 132N pit and all nickel rights and
associated entitlements at Munda. The parties have agreed to expedite the grant
of miscellaneous licences over the WIN tenements to secure road access as well as
the camp.
Auric Mining Limited
ACN 635 470 843
Level 1, 1 Tully Road, East Perth WA 6004
PO Box 1057, Joondalup DC WA 6919
info@auricmining.com.au
08 9548 9997
auricmining.com.au
ASX: AWJ
ANNOUNCEMENT TO THE AUSTRALIAN SECURITIES EXCHANGE
1 JULY 2025
Forward Looking Statement
This Announcement may contain forward-looking statements which are identified
by words such as ‘may’, ‘could’, ‘should’, ‘believes’, ‘estimates’, ‘targets’,
‘expecting’, or ‘intends’ and other similar words that involve risks and uncertainties.
These statements are based on an assessment of present economic and operating
conditions, and on a number of assumptions regarding future events and actions
that, as at the date of this Announcement, are considered reasonable. Such
forward-looking statements are not a guarantee of future performance and involve
known and unknown risks, uncertainties, assumptions, and other important factors,
many of which are beyond the control of the Company, the Directors, and the
management. The Directors cannot and do not give any assurance that the results,
performance, or achievements expressed or implied by the forward-looking
statements contained in this Announcement will actually occur and investors are
cautioned not to place undue reliance on these forward-looking statements.
This announcement has been approved for release by the Board of Auric Mining Ltd.
Corporate Enquiries
Investor Relations
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Mark English
Managing Director
Auric Mining Limited
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Director
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T +61 409 372 775
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E menglish@auricmining.com.au E alexc@nwrcommunications.com.au
Auric Mining Limited
ACN 635 470 843
Level 1, 1 Tully Road, East Perth WA 6004
PO Box 1057, Joondalup DC WA 6919
info@auricmining.com.au
08 9548 9997
auricmining.com.au
ASX: AWJ
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