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Auric Mining Ltd. (AU:AWJ)
ASX:AWJ
Australian Market

Auric Mining Ltd. (AWJ) AI Stock Analysis

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AU:AWJ

Auric Mining Ltd.

(Sydney:AWJ)

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Outperform 70 (OpenAI - 5.2)
Rating:70Outperform
Price Target:
AU$0.39
▲(37.50% Upside)
Overall score reflects improving profitability and a low-debt balance sheet, offset by weaker 2024 cash-flow conversion and negative free cash flow. Technicals are supportive with a strong uptrend, while valuation looks only moderate given the P/E and lack of dividend data.
Positive Factors
Conservative balance sheet
Zero net debt and a larger equity base materially reduce refinancing and solvency risk in a cyclical mining sector. Improved ROE (~15%) shows more effective capital deployment. A conservative balance sheet preserves optionality to fund exploration or JV work without urgent external financing.
Strong 2024 margins
Material margin expansion and higher net income in 2024 demonstrate meaningful operating leverage and an efficient cost base at current activity levels. Sustained margins support lasting profitability potential as projects scale, aiding cash generation once production or recurring sales stabilize.
Flexible monetization options
A strategic focus on farm-outs, JV's and asset sales provides durable funding pathways that reduce reliance on shareholder dilution. Partner-funded development phases align incentives, allow technical risk sharing, and permit staged advancement toward production with lower upfront capital demands.
Negative Factors
Weak cash generation
Operating cash flow declined sharply and free cash flow turned negative in 2024, with OCF covering only around half of net income. Persistent weak cash conversion increases execution and funding risk when advancing projects, potentially necessitating dilutive equity or costly external financing for development.
Short earnings track record
The firm's profitable performance is recent; prior years showed no revenue and losses. Short operating history in exploration makes future earnings durability uncertain, heightens volatility around discoveries, and complicates long-term planning and investor confidence across commodity cycles.
Negative growth trends
Reported multi-year metrics show negative revenue and EPS growth, signaling underlying top-line or margin pressures beyond single-year effects. Persistent declines reduce internal cash accumulation, increase reliance on external capital for advancement, and narrow the margin for error on project setbacks.

Auric Mining Ltd. (AWJ) vs. iShares MSCI Australia ETF (EWA)

Auric Mining Ltd. Business Overview & Revenue Model

Company DescriptionAuric Mining Limited engages in the exploration and development of gold projects. It holds 100% interests in the Munda gold project, Spargoville project, and Jeffreys Find gold project comprising 16 granted tenements, including 6 mining leases and 9 applications that covers an area of 91 kilometers located in the Widgiemooltha area of Western Australia. The company was incorporated in 2019 and is headquartered in East Perth, Australia.
How the Company Makes MoneyAuric Mining Ltd. generates revenue primarily through the exploration, extraction, and sale of gold and other precious metals. The company identifies promising mining sites, conducts extensive exploration to assess the viability and scale of mineral resources, and then develops these sites into operational mines. Revenue is earned from the sale of extracted metals to refineries and other buyers in the global commodities market. Additionally, Auric Mining may engage in joint ventures or strategic partnerships with other mining companies to share resources, access new technologies, or expand its operational capabilities, further contributing to its revenue streams.

Auric Mining Ltd. Financial Statement Overview

Summary
Income statement and balance sheet are strong (higher revenue and net income with very strong margins, and debt reduced to zero with rising equity), but cash flow quality is a key drag: operating cash flow fell sharply in 2024 and free cash flow turned negative, raising funding/execution risk if investment remains elevated.
Income Statement
78
Positive
Profitability and growth improved materially: revenue rose to 8.31M in 2024 (up ~23% vs. 2023) and net income increased to 2.69M (vs. 1.31M in 2023). Margins are very strong in 2024 (net margin ~32%, EBIT margin ~48%, EBITDA margin ~68%), showing solid operating leverage. The key weakness is consistency—2020–2022 showed no revenue and sustained losses, so the earnings profile is still relatively young and potentially more volatile.
Balance Sheet
85
Very Positive
The balance sheet looks conservative with minimal leverage: total debt fell to 0 in 2024 (from 93.7K in 2023) and equity increased to 17.94M (from 11.93M), supporting a stronger capital base. Returns improved with positive return on equity of ~15% in 2024 (vs. ~11% in 2023) after negative returns in earlier years. The main downside is the shorter track record of sustained profitability, which matters for balance-sheet resilience in a cyclical commodity industry.
Cash Flow
45
Neutral
Cash generation weakened in 2024: operating cash flow dropped to 1.00M (from 4.22M in 2023) and free cash flow turned negative (-3.14M vs. +2.59M in 2023). Cash conversion also deteriorated, with operating cash flow covering only ~52% of net income in 2024 (vs. ~395% in 2023), suggesting working-capital swings and/or timing effects. Strengths include that 2023 demonstrated strong cash generation, but the sharp reversal in 2024 raises execution and funding risk if elevated investment continues.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue6.41M8.31M4.77M0.000.000.00
Gross Profit5.03M8.31M4.77M-37.06K-16.93K-388.00
EBITDA3.84M5.65M2.09M-1.07M-1.09M-750.48K
Net Income2.10M2.69M1.31M-1.11M-1.10M-750.87K
Balance Sheet
Total Assets26.39M21.62M13.31M11.01M9.37M4.08M
Cash, Cash Equivalents and Short-Term Investments8.75M3.89M4.49M2.02M545.01K176.42K
Total Debt0.000.0093.72K116.13K136.79K60.50K
Total Liabilities2.05M3.68M1.38M441.73K323.49K1.40M
Stockholders Equity24.34M17.94M11.93M10.57M9.05M2.68M
Cash Flow
Free Cash Flow-1.29M-3.14M2.59M-3.14M-4.23M-2.41M
Operating Cash Flow5.68M1.00M4.22M-1.06M-1.40M-352.71K
Investing Cash Flow-4.17M-3.23M-2.52M-1.26M-4.86M-2.05M
Financing Cash Flow6.41M2.58M-24.27K2.59M6.63M2.58M

Auric Mining Ltd. Technical Analysis

Technical Analysis Sentiment
Positive
Last Price0.28
Price Trends
50DMA
0.28
Positive
100DMA
0.26
Positive
200DMA
0.23
Positive
Market Momentum
MACD
0.01
Negative
RSI
59.55
Neutral
STOCH
69.87
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:AWJ, the sentiment is Positive. The current price of 0.28 is below the 20-day moving average (MA) of 0.30, above the 50-day MA of 0.28, and above the 200-day MA of 0.23, indicating a bullish trend. The MACD of 0.01 indicates Negative momentum. The RSI at 59.55 is Neutral, neither overbought nor oversold. The STOCH value of 69.87 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:AWJ.

Auric Mining Ltd. Peers Comparison

Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
70
Outperform
AU$59.87M22.2210.47%-6.77%-18.18%
61
Neutral
$10.43B7.12-0.05%2.87%2.86%-36.73%
56
Neutral
AU$71.36M-61.63-3.30%6.52%
52
Neutral
AU$146.09M-36.17-16.76%
51
Neutral
AU$31.65M-7.24-13.91%-48.72%
43
Neutral
AU$94.88M-9.03-171.22%-13.52%
41
Neutral
AU$29.13M-11.15-25.89%47.47%
* Basic Materials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
AU:AWJ
Auric Mining Ltd.
0.32
0.00
0.00%
AU:SKY
Sky Metals Limited
0.17
0.12
209.09%
AU:MAG
Magmatic Resources Ltd.
0.06
0.02
45.00%
AU:KRM
Kingsrose Mining Ltd
0.04
0.01
31.25%
AU:YRL
Yandal Resources Ltd.
0.25
0.10
61.29%
AU:AGC
Australian Gold & Copper Ltd.
0.27
0.13
96.30%

Auric Mining Ltd. Corporate Events

Auric Mining Boosts Cash Position on Strong Munda Output and Jeffreys Find Wind-Down
Jan 27, 2026

Auric Mining reported a strong December quarter with the first production campaign at its Munda Gold Mine delivering 2,718 ounces of gold, generating A$16.85 million in gross sales and A$10.82 million in net cash after milling, haulage and royalties, while also stockpiling about 67,000 tonnes of high-grade ore ahead of a second toll-milling campaign at Lakewood Mill scheduled to start in late January 2026. The company also completed rehabilitation at the Jeffreys Find Gold Mine, which contributed approximately 29,537 ounces of gold and about A$14.5 million in cashflow over its life, advanced technical and tenure work on the 180,000 tpa Burbanks processing plant, progressed the Lindsay’s acquisition with partial tenement settlement and pending Wardens Court outcomes, and ended the quarter with A$6.7 million in cash and investments, no debt, and full exposure to gold prices.

The most recent analyst rating on (AU:AWJ) stock is a Buy with a A$0.35 price target. To see the full list of analyst forecasts on Auric Mining Ltd. stock, see the AU:AWJ Stock Forecast page.

Auric Mining Posts Strong Cash Inflows from Gold Sales While Accelerating Exploration Spend
Jan 27, 2026

Auric Mining Ltd reported strong operating cash inflows of A$16.7 million for the quarter ended 31 December 2025, driven primarily by A$16.9 million in gold sales from its Munda operation, contributing to A$21.1 million in net operating cash flow for the year to date. The company continued to deploy significant capital into growth, with A$11.1 million in quarterly investing cash outflows on tenement acquisitions, exploration and evaluation, and milling and haulage costs, resulting in a net cash position supported by earlier equity raisings and a modest positive net financing cash flow of A$0.1 million for the quarter. These results underscore Auric’s transition into a cash-generative gold producer while simultaneously reinvesting heavily in exploration and project development, a strategy that may enhance its long-term production profile but keeps near-term cash flows tightly managed.

The most recent analyst rating on (AU:AWJ) stock is a Buy with a A$0.35 price target. To see the full list of analyst forecasts on Auric Mining Ltd. stock, see the AU:AWJ Stock Forecast page.

Auric Mining Starts Second Munda Processing Campaign as Starter Pit Mining Concludes
Jan 27, 2026

Auric Mining has completed mining of the Starter Pit at its Munda Gold Mine and has begun a second toll processing campaign of Munda ore at Black Cat Syndicate’s Lakewood Mill, with processing expected to run for about three weeks. The company anticipates first gold sales in early February and initial cash inflows by late February, and management says the strong gold price and solid Starter Pit results support Munda’s status as a high-quality asset capable of generating near-term cash while underpinning plans for a larger main pit development and Auric’s evolution into a sustainable gold producer.

The most recent analyst rating on (AU:AWJ) stock is a Buy with a A$0.35 price target. To see the full list of analyst forecasts on Auric Mining Ltd. stock, see the AU:AWJ Stock Forecast page.

Auric Mining Advances Munda Gold Mine Toward Near-Term Cashflow
Jan 13, 2026

Auric Mining has resumed mining at its Munda Gold Mine and built up approximately 67,000 tonnes of high-grade ore on its run-of-mine stockpiles as of 31 December 2025. The company has started hauling ore to Black Cat Syndicate’s Lakewood Mill, with toll processing scheduled to begin around 27 January 2026 and first cash proceeds from gold sales anticipated in late February 2026, marking a key step in its strategy to generate near-term cashflow and advance Munda as a high-quality asset supporting its transition toward sustainable gold production.

The most recent analyst rating on (AU:AWJ) stock is a Hold with a A$0.30 price target. To see the full list of analyst forecasts on Auric Mining Ltd. stock, see the AU:AWJ Stock Forecast page.

Auric Mining Ltd Announces Change in Director’s Interest in Securities
Dec 18, 2025

Auric Mining Ltd has announced a change in the director’s interest in securities, specifically involving an off-market transfer of shares between entities controlled by Director Mark Anthony English. This adjustment in holdings reflects internal portfolio reallocation and does not involve a change in the total number of shares under the director’s control. The development underscores Auric Mining Ltd.’s continued commitment to transparency in disclosing director-level transactions to its stakeholders.

The most recent analyst rating on (AU:AWJ) stock is a Buy with a A$0.39 price target. To see the full list of analyst forecasts on Auric Mining Ltd. stock, see the AU:AWJ Stock Forecast page.

Auric Mining director exercises 112,500 options, modestly increases stake
Dec 17, 2025

Auric Mining Ltd operates in the mining sector, concentrating on mineral exploration and resource development as an ASX‑listed company. The company reported a director’s securities movement: director Mark Anthony English exercised 112,500 unlisted options at $0.225 on 17 December 2025 for total consideration of $25,312.50, converting those options into ordinary shares held via LBL (WA) Pty Ltd (Onslow Consulting Trust). Post‑exercise, the trust holds 112,500 ordinary shares and retains 300,000 unlisted options; other indirect holdings by the director through nominee entities remain materially unchanged. The transaction is an exercise of options that brings modest cash to the company, slightly increases the director’s shareholding and underscores insider alignment with shareholders, while having minimal operational or dilutionary impact.

The most recent analyst rating on (AU:AWJ) stock is a Buy with a A$0.39 price target. To see the full list of analyst forecasts on Auric Mining Ltd. stock, see the AU:AWJ Stock Forecast page.

Auric Mining Issues New Shares Following Option Exercise
Dec 17, 2025

Auric Mining Limited has issued 112,500 fully paid ordinary shares following the exercise of unquoted options, as per the announcement on 15 December 2025. This issuance was conducted without disclosure under Part 6D.2 of the Corporations Act 2001, and the company confirms compliance with its reporting obligations, indicating no excluded information needs disclosure. This move reflects Auric’s ongoing operational activities and adherence to regulatory standards, potentially impacting its market positioning and stakeholder interests.

The most recent analyst rating on (AU:AWJ) stock is a Buy with a A$0.39 price target. To see the full list of analyst forecasts on Auric Mining Ltd. stock, see the AU:AWJ Stock Forecast page.

Auric Mining Ltd. Announces Quotation of New Securities
Dec 17, 2025

Auric Mining Ltd. has announced the issuance of 112,500 fully paid ordinary securities, which will be quoted on the Australian Securities Exchange (ASX) under the code AWJ. This move is part of the company’s strategy to leverage convertible securities, potentially strengthening its financial position and enhancing shareholder value.

The most recent analyst rating on (AU:AWJ) stock is a Buy with a A$0.39 price target. To see the full list of analyst forecasts on Auric Mining Ltd. stock, see the AU:AWJ Stock Forecast page.

Auric Mining Ltd. Announces Proposed Securities Issue
Dec 15, 2025

Auric Mining Ltd. has announced a proposed issue of 112,500 fully paid ordinary securities, with the issuance date set for December 17, 2025. This move is part of a placement or other type of issue, potentially impacting the company’s market presence and providing additional capital for its operations.

The most recent analyst rating on (AU:AWJ) stock is a Buy with a A$0.39 price target. To see the full list of analyst forecasts on Auric Mining Ltd. stock, see the AU:AWJ Stock Forecast page.

Auric Mining Ltd. Sets Sights on Kalgoorlie Gold Expansion
Nov 24, 2025

Auric Mining Ltd. has announced a strategic focus on the Kalgoorlie region, aiming to become a leading gold producer and explorer. The company plans to acquire projects with near-term production capabilities, build processing capacity, and expand its gold resources, which could significantly enhance its operational growth and industry positioning.

The most recent analyst rating on (AU:AWJ) stock is a Buy with a A$0.39 price target. To see the full list of analyst forecasts on Auric Mining Ltd. stock, see the AU:AWJ Stock Forecast page.

Auric Mining Expands Portfolio with Key Tenement Acquisition
Nov 19, 2025

Auric Mining Limited has executed a Tenement Sale Agreement with Top Global Mining Pty Ltd for the acquisition of four key tenements at Lindsay’s Gold Project, located northeast of Kalgoorlie. This strategic acquisition is expected to significantly advance Auric’s ambitions in the gold mining sector, providing them with sole rights to undertake work on the tenements and manage ongoing litigation in the Warden’s Court. The agreement includes a financial commitment of $1,600,000 and $2,000,000 in shares, contingent upon the successful resolution of court actions, which underscores the company’s commitment to expanding its gold project portfolio.

The most recent analyst rating on (AU:AWJ) stock is a Buy with a A$0.39 price target. To see the full list of analyst forecasts on Auric Mining Ltd. stock, see the AU:AWJ Stock Forecast page.

Auric Mining Reports Strong Revenue from Munda Gold Mine
Nov 18, 2025

Auric Mining Limited has reported significant financial success from its Munda Gold Mine, generating $14.6 million in gold sales and $8.8 million in net revenue after costs. The company has produced 2,355 ounces of gold from three pours and plans to continue its operations with a second campaign at Lakewood Mill in early 2026, positioning itself for continued growth and profitability.

The most recent analyst rating on (AU:AWJ) stock is a Buy with a A$0.39 price target. To see the full list of analyst forecasts on Auric Mining Ltd. stock, see the AU:AWJ Stock Forecast page.

Auric Mining Reports Strong Revenue from Munda Gold Mine
Nov 17, 2025

Auric Mining Limited has reported significant financial success from its Munda Gold Mine, with $14.6 million in gold sales and $8.8 million in net revenue after milling fees. The company has produced 2,355 ounces of gold from three pours and plans to commence a second campaign at Lakewood Mill in January 2026, positioning itself for continued growth in the buoyant gold market.

The most recent analyst rating on (AU:AWJ) stock is a Buy with a A$0.39 price target. To see the full list of analyst forecasts on Auric Mining Ltd. stock, see the AU:AWJ Stock Forecast page.

Auric Mining Achieves First Gold Sales from Munda Gold Mine
Nov 4, 2025

Auric Mining Limited has successfully sold its first gold from the Munda Gold Mine, totaling 1,790 ounces at an average price of A$6,130 per ounce, generating nearly A$11 million in revenue. This milestone marks a significant step in the company’s operations, indicating strong performance and setting a positive outlook for future growth, as further gold sales and cash inflows are anticipated in the coming months.

The most recent analyst rating on (AU:AWJ) stock is a Buy with a A$0.39 price target. To see the full list of analyst forecasts on Auric Mining Ltd. stock, see the AU:AWJ Stock Forecast page.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Jan 29, 2026