FY2021
Listing followed by drilling
RC drilling at Munda started immediately after listing, with programmes in March and August. A resource update initiated in December was reported in January 2022.
ASX: AWJ · Five-year financial review
(ASX: AWJ) Auric Mining Financial Review - FY2021~25
Auric moved from exploration losses into three profitable years. Jeffreys Find supplied profit-share income before Munda introduced direct gold-sales revenue and mining costs. The transition also required greater project investment and new equity funding.
Reading the figures: Units are stated above each table or beside the metric. Brackets denote negative amounts. Supported nil is shown as zero; unlike reporting bases remain separately labelled.
FY2025 net profit
A$5.171m
Statutory after-tax result.
FY2025 operating cash
A$5.577m
Group cash flow, not campaign net cash.
December cash
A$6.505m
Before subsequent 2026 receipts.
Gold-sales revenue
A$20.277m
Mixed net-share and direct-sales bases.
Five years in context
The Jeffreys Find arrangement allocated upfront mining and haulage costs to BML, with surplus cash split equally after costs. Its project-level gross gold sales should never be placed beside Auric’s net-share revenue as if they were the same measure.
Munda starter-pit activity added a different revenue model in FY2025. Burbanks was acquired for future processing options, but refurbishment and expansion assessments were still underway; installed operating capacity is not inferred from those scenarios.
Events behind the numbers
FY2022
The Jeffreys Find operating model
BML’s agreement assigned mining capital and working capital to BML after a decision to mine. Permitting, studies and toll-treatment discussions advanced; later production is not backdated into FY2022.
FY2023
First project cash and profit
Jeffreys Find Stage 1 produced 9,741 oz and generated approximately A$4.76m of cash for Auric. The company recorded its first profit in this five-year sequence.
FY2024
Stage 2 progressed
Stage 2 mining began in March. Processing during 2024 produced 10,693 oz at the project level, while Auric recognised its profit share rather than full project bullion revenue.
FY2025
Munda starts; Burbanks acquired
Munda mining began in May and its first processing campaign ran in October-November. Burbanks settled in September, while Jeffreys Find’s final processing campaign completed in August.
FINANCIAL REVIEW / 01
Profits became cash, but investment still required financing
Operating cash turned positive as Jeffreys Find generated distributions. By FY2025, investment in the wider portfolio exceeded operating cash generation, with financing supporting both spending and a higher closing cash balance.
Year-end cash
A$ million
Closing cash
AI-generated presentation · values from Five-year financial record; no missing values plotted as zero.
Operating and investing cash
A$ million
Operating cash flowInvesting cash flow
AI-generated presentation · values from Five-year financial record; no missing values plotted as zero.
Five-year financial record
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Profit / (loss) after tax | (1.103) | (1.107) | 1.314 | 2.691 | 5.171 |
| Operating cash flow | (1.404) | (1.061) | 4.224 | 1.002 | 5.577 |
| Investing cash flow | (4.859) | (1.260) | (2.524) | (3.232) | (8.286) |
| Financing cash flow | 6.631 | 2.593 | (0.024) | 2.576 | 6.375 |
| Closing cash | 0.545 | 0.818 | 2.493 | 2.838 | 6.505 |
December financial years, Australian dollars converted to millions. FY2024 cash uses the later comparative.
Investing includes term-deposit transfers and investment disposals, not only physical project expenditure.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
FINANCIAL REVIEW / 02
Do not read the revenue jump as a like-for-like margin comparison
The statutory split explains why mining expenditure appears beside Munda revenue while Jeffreys Find is presented net. Lower amortisation and a much lower tax charge also contributed to the larger after-tax profit; a bullion-price-only explanation would be incomplete.
Recognised revenue by arrangement
A$ million
Jeffreys Find profit-share revenueMunda gold-sales revenue
AI-generated presentation · values from The revenue mix changed, not just the gold price; no missing values plotted as zero.
Statutory profit / loss
A$ million
Profit / (loss) after tax
AI-generated presentation · values from Five-year financial record; no missing values plotted as zero.
The revenue mix changed, not just the gold price
A$ million
| Metric | FY2024 | FY2025 |
|---|---|---|
| Jeffreys Find profit-share revenue | 8.308 | 3.417 |
| Munda gold-sales revenue | 0.000 | 16.860 |
| Total recognised gold-sales revenue | 8.308 | 20.277 |
| Mining expenditure | 0.000 | (11.337) |
| Gross profit | 8.308 | 8.941 |
| Mining-asset amortisation | (1.623) | (0.147) |
| Income-tax expense | (1.408) | (0.093) |
Jeffreys Find is net profit-share revenue on an agent basis; it is not the project’s gross bullion sales.
Munda sales and mining costs are separately presented. Blended revenue growth therefore does not imply comparable volume or margin growth.
Headline total revenue includes other income; the table explicitly reports gold-sales revenue, not the A$20.6m rounded headline.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
FINANCIAL REVIEW / 03
Burbanks and tenements broadened the asset base
The Burbanks plant was carried as capital work in progress, not depreciated while unavailable for use. Exploration assets and total equity grew, but neither is equivalent to unrestricted cash or the value of an already refurbished mill.
Exploration assets and equity
A$ million
Exploration and evaluation assetsConsolidated equity
AI-generated presentation · values from Capitalised exploration and equity; no missing values plotted as zero.
Capitalised exploration and equity
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Exploration and evaluation assets | 6.530 | 8.538 | 6.982 | 10.244 | 13.561 |
| Consolidated equity | 9.048 | 10.566 | 11.933 | 17.937 | 29.746 |
FY2023 exploration uses the later restated classification following commencement of Jeffreys Find production.
The issuer describes a transfer to mining properties with no impact on profit or opening equity. No full reconciliation is inferred from differing extracted asset schedules.
Munda remained in the broader project evaluation classification at December 2025 despite starter-pit mining and gold sales.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
Recent investing cash detail
A$ million
| Metric | FY2024 | FY2025 |
|---|---|---|
| Property, plant and equipment payments | (0.882) | (5.914) |
| Tenement payments | (1.160) | (1.555) |
| Exploration and evaluation payments | (2.090) | (2.128) |
| Investment disposals / (purchases) | (0.490) | 0.691 |
| Term-deposit payments | (1.300) | 0.000 |
| Term-deposit receipts | 2.690 | 0.610 |
Transfers between cash and term deposits are not a mining cost. FY2024 uses the later comparative rather than combining original and revised component classifications.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
FINANCIAL REVIEW / 04
Campaign economics are useful, but not a second group cash-flow statement
Munda Campaign One shows cash after external milling, haulage and royalty costs. It does not deduct every company or mine cost. Jeffreys Find’s 29,537 oz and A$112m sales are life-of-project totals, not FY2025 annual production or Auric revenue.
Munda campaign gross sales and net cash
A$ million
Gross campaign gold salesCampaign net cash after these direct costs
AI-generated presentation · values from Munda Campaign One: a project cash measure; no missing values plotted as zero.
Munda Campaign One: a project cash measure
A$ million
| Metric | FY2025 campaign |
|---|---|
| Gross campaign gold sales | 16.852 |
| External direct costs: milling, haulage, royalties | (6.033) |
| Campaign net cash after these direct costs | 10.819 |
Not group operating cash flow, statutory net profit or cash after every mining/corporate cost.
Reported campaign: 57,900 dry tonnes milled, 2,718 oz recovered, 90.67% recovery. The campaign schedule is not substituted for statutory revenue.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
FINANCIAL REVIEW / 05
Keep the year-end funding and subsequent receipts separate
The BML facility was drawn and repaid during FY2025, with nothing owing at December. The undrawn balance remained conditional on ore targets. Subsequent Munda receipts and a further Jeffreys Find profit share belong after the year-end and are not added to December cash.
The broader Munda project retained its evaluation accounting classification despite the starter-pit campaigns. This is an accounting boundary, not a claim that no gold was mined or sold.
Reading the figures
- Existing annual extraction data only; no original PDF, parsed body, new database query or financial web research.
- Project production and life-of-project sales are not consolidated annual revenue. No missing production series is fabricated.
- FY2023 exploration classification and FY2024 investing components use later comparatives; detailed extraction discrepancies are retained in the issue log.
- Published primary-author review, not an independent audit.
Annual-report source registry
- Auric Mining - Annual ReportFrozen annual extraction; December year-end and project/group bases retained.
- Auric Mining - Annual ReportFrozen annual extraction; December year-end and project/group bases retained.
- Auric Mining - 2023 Annual Report to ShareholdersFrozen annual extraction; December year-end and project/group bases retained.
- Auric Mining - 2024 Annual Report to ShareholdersFrozen annual extraction; December year-end and project/group bases retained.
- Auric Mining - 2025 Annual ReportFrozen annual extraction; December year-end and project/group bases retained.
Prepared solely from the existing year-by-year extraction datasets. No raw annual-report body, PDF, new database lookup or financial web research was used. Review is against those stored extractions, not a new independent original-document audit.
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