Auric Mining Ltd (ASX:AWJ) directors have demonstrated their confidence in the company and its gold strategy by exercising all of their options for an injection of almost $97,000.
There has been an encouraging uptake for the 16,829,135 AWJOA quoted options which are due to expire on March 31, 2024, at an exercise price of $0.15.
At the close of business on Friday, March 15, 2024, there had been 2,260,178 options converted into fully paid ordinary shares for a total of $339,026.70.
This includes the exercising of all 645,839 director options for a total of $96,875.85.
The last day of trading AWJOA will be Friday, March 22, 2024, and the last day to exercise the AWJOA is Thursday, March 28, 2024.
READ: Auric Mining set for “very lucrative” year with new gold toll mill contract for minimum 300,000 tonnes
Auric Mining appears set for a lucrative year at the Jeffreys Find gold joint venture in WA after executing a toll milling agreement with the Greenfields Mill at Coolgardie to process a minimum of 300,000 tonnes of ore.
This is considerably more than the 175,000 tonnes extracted and toll milled from Jeffreys Find in 2023 which realised almost $10 million in total surplus cash for the joint venture with BML Ventures Pty Ltd of Kalgoorlie.
Mining was expected to begin in early March with the first parcel of ore expected at the Greenfields Mill in mid-April.
The company also believes its flagship Munda Gold Project in WA will be a “sizeable cash contributor" after it delivered numerous high-grade results from the first phase of grade control drilling last year.
READ: Auric Mining sees Munda as “sizeable cash contributor" as drilling delivers high-grade gold
Earlier this year, Auric received assays for 244 holes from a total of 351 holes for 10,895 metres completed so far at the project, which included broad intercepts at a 0.5 g/t gold cut-off such as:
- 16 metres at 12.54 g/t gold;
- 9 metres at 21.37 g/t, including 1 metre at 184.60 g/t;
- 4 metres at 20.13 g/t, including 1 metre at 77.18 g/t; and
- 4 metres at 18.84 g/t, including 1 metre at 68.94 g/t.