Auric Mining (LWJ) H2 2024 earnings summary

Executive summary

• Achieved a strong year with gold production of 11,579 ounces, mainly from Jeffreys Find, and significant progress toward transitioning from explorer to gold producer and developer.

• Revenue increased to $8.45 million, with net profit after tax rising to $2.69 million, more than doubling the prior year.

• Major operational milestones included the completion of Stage 2 mining at Jeffreys Find and advancement of the Munda Gold Project toward production.

• Strategic acquisitions included the Burbanks Gold Facility and Lindsay's Gold Project, expanding production capacity and resource base.

Financial highlights

• Revenue: $8.45 million for 2024, up from $4.77 million in 2023.

• Net profit after tax: $2.69 million (2023: $1.31 million).

• Operating cash flow: $1.00 million (2023: $4.22 million).

• Total assets: $21.62 million; net assets: $17.94 million as of 31 December 2024.

• No dividends declared or paid.

Outlook and guidance

• Munda Gold Project to commence mining in Q2 2025, targeting 6,100 ounces from a 125,000-tonne starter pit.

• Burbanks Gold Facility acquisition to be completed in late Q2 2025, expected to enhance processing capacity.

• Lindsay's Gold Project acquisition to add near-term production potential, with open-pit mining at Parrot Feathers planned for 2025.

• Continued focus on optimising production costs and expanding resource development.