Auric Mining Limited (ASX: AWJ), a gold exploration and development company focused on becoming a standalone producer with key infrastructure in the Kalgoorlie region, has announced a significant capital raising initiative. The company secured firm commitments for a A$17 million two-tranche placement at A$0.185 per share, complemented by a Share Purchase Plan (SPP) targeting up to A$3.0 million. This capital injection, strongly supported by new high-quality Australian and international institutions, resource funds, and existing shareholders, is designed to accelerate Auric’s growth strategy, including expanding its resource base and advancing the Burbanks processing plant redevelopment.
The A$17 million placement involves 91,891,892 new shares, with Tranche 1 raising approximately A$8.7 million under existing placement capacities. Tranche 2, totalling A$8.3 million, is contingent on shareholder approval at an Extraordinary General Meeting in mid-December 2026 and includes director participation. The concurrent SPP offers existing eligible shareholders the opportunity to acquire new shares at the same A$0.185 price, subject to an ASX waiver regarding issue price discount limitations, aiming to raise up to A$3.0 million.
Proceeds from the capital raising are primarily allocated to strategic acquisitions and intensified exploration efforts. This includes the acquisition of the Union Jack and Iron Maiden projects, alongside increased drilling across Auric’s project portfolio, specifically for grade control and extensional activities at Munda, and resource growth at Union Jack and Iron Maiden. Funds will also facilitate the relocation of infrastructure and equipment for the Burbanks processing plant and bolster general working capital. Auric’s Managing Director, Mark English, emphasised that this funding enables the consolidation of new projects and aggressive resource base growth, supporting the company’s objective to become a gold producer and secure long-term feed for the Burbanks plant.
