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Highlights
- Auric Mining acquires Burbanks gold processing plant in WA's goldfields.
- Acquisition includes all infrastructure, permits, and licenses for operation.
- Auric plans to refurbish the plant for increased capacity and third-party treatment.
Auric Mining (ASX:AWJ) is set to strengthen its operations with the acquisition of the historic Burbanks gold processing plant in Coolgardie, located in Western Australia’s goldfields. The deal, valued at $4.4 million, includes all associated infrastructure, permits, and licenses, ensuring the plant can operate seamlessly.
The Burbanks facility features primary crushing, grinding, and a carbon-in-leach (CIL) processing system. It boasts a production capacity of 180,000 tonnes annually, supported by critical infrastructure such as power access and tailings dams. The plant's location, within trucking distance of Auric's gold resources, adds strategic value to the company’s operational plans.
Auric will focus on completing technical, operational, licensing, and legal due diligence over the next few months to ensure the acquisition aligns with its growth strategy. This acquisition marks a significant step for Auric, offering direct ownership of milling infrastructure in the region.
Auric’s managing director Mark English emphasized the importance of the deal, noting that the purchase of quality assets at favorable valuations provides solid foundations for long-term success. He highlighted the plant’s role in accelerating Auric’s path to becoming a fully integrated gold producer in WA’s goldfields region.
Auric plans to refurbish the Burbanks plant, which has remained inactive since 2019, to optimize its capacity. The company anticipates the refurbished plant will serve as a hub for processing ore from its own resources and offer commercial opportunities for third-party toll treatment.
The company has already paid a non-refundable deposit of $100,000 and holds sufficient cash reserves to finalize the acquisition.
Strengthened Partnerships and Expansion
In a separate development, Auric and its joint venture partner BML Ventures completed a deal with Focus Minerals (ASX:FML) in October to process additional ore from the Jeffreys Find gold mine. Under the agreement, up to 120,000 tonnes of ore will be processed at Focus’ Three Mile Hill plant, which has an annual capacity of 1.2 million tonnes.
BML has delivered 25,000 tonnes to the plant so far, with another 50,000 tonnes stockpiled and ready for haulage. This partnership highlights Auric's continued efforts to strengthen its production capabilities and deliver sustainable growth in the gold sector.
The Burbanks acquisition and the Three Mile Hill agreement position Auric for enhanced operational control and resource utilization, reinforcing its growing presence in WA's goldfields.
