Auric Mining Limited

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The acquisition of the Coolgardie mill uniquely positions the Company for further success and growth through direct ownership of milling infrastructure in the WA goldfields.  

Due diligence for the purchase of the Burbanks Plant and associated assets has been completed and Auric intends to proceed to complete the acquisition with a payment of A$4.4 million.

The original mill was designed with a 180,000 tpa capacity but it is not currently operational. Burbanks has all requisite infrastructure, permits and licenses including access to critical power and tails dams infrastructure essential to the future operations of the plant. It is strategically located 15km south of Coolgardie, WA and within close trucking distance of existing Auric gold resources.

The Plant was operational up until approximately June 2019 when the operator closed the facility. The complex requires a complete review of longer-term operations and corresponding upgrades. The acquisition price is a substantial discount to current and replacement values. This potential acquisition represents a clear value creation opportunity for the Company.

The acquisition will position the company for further success and growth through the direct ownership of milling infrastructure in the WA goldfields.