Auric Mining (LWJ) H2 2024 earnings summary

Executive summary

• Achieved a strong operational year with gold production of 11,579 ounces, mainly from Jeffreys Find, and advanced the Munda project towards production in 2025.

• Revenue increased to $8.45 million, with net profit after tax rising to $2.69 million, reflecting higher production and gold prices.

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

• Signed a landmark Native Title Agreement with the Ngadju People, streamlining approvals and ensuring long-term operational clarity.

Financial highlights

• Revenue grew to $8.45 million (2023: $4.77 million), driven by increased gold sales.

• Net profit after tax was $2.69 million, up from $1.31 million in 2023.

• Operating cash flow was $1.00 million (2023: $4.22 million), supporting ongoing investments.

• Total assets reached $21.6 million, with net assets of $17.9 million at year-end.

• No dividends declared or paid for the year.

Outlook and guidance

• Munda Gold Mine is set to commence production in early 2025, targeting 6,100 ounces from the starter pit.

• Completion of the Burbanks Gold Facility acquisition expected in late Q2 2025, enhancing processing capacity.

• Lindsay's Gold Project acquisition to strengthen near-term production pipeline, with mining at Parrot Feathers planned for 2025.

• Continued focus on cost optimization and resource development amid stable gold market conditions.