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Auric Mining Ltd. ( (AU:AWJ) ) has provided an update.
Auric Mining has issued a retraction and replacement of its recent Singapore roadshow presentation after including figures that could be interpreted as a formal production target. The company had referred to a goal of producing 25,000–30,000 ounces of gold and a scoping study throughput of 500,000 tonnes per annum, but now states these figures were conceptual and not compliant with ASX disclosure rules.
Auric has formally withdrawn the production target, clarifying that the technical basis, feasibility and economic viability of the previously stated metrics are currently unknown. The company has urged investors not to rely on those aspirational numbers for investment decisions and has released an updated presentation with the production target removed, underscoring its need to align communication with regulatory requirements and manage stakeholder expectations.
The most recent analyst rating on (AU:AWJ) stock is a Buy with a A$0.73 price target. To see the full list of analyst forecasts on Auric Mining Ltd. stock, see the AU:AWJ Stock Forecast page.
More about Auric Mining Ltd.
Auric Mining Ltd. is an Australian-listed gold mining and exploration company based in Western Australia. The company is focused on developing and operating gold projects, positioning itself as an integrated mining house with assets and activities aimed at building a sustainable production profile in the regional gold sector.
Average Trading Volume: 888,836
Technical Sentiment Signal: Buy
Current Market Cap: A$63.61M
For an in-depth examination of AWJ stock, go to TipRanks’ Overview page.