Auric Mining says it has agreed to acquire the WA Union Jack project in a deal worth $9.5 million, paid in cash and shares. The purchase is described as increasing Auric’s gold resource base by about 51%.
Across outlets, Auric’s “global resource” rises to 301,000 mine-ready gold ounces after the acquisition. Sources consistently cite the same transaction value ($9.5m) and the same outcome on mine-ready ounces and percentage uplift. The West Australian characterizes the price as “bargain-basement,” while other outlets use similar but less emphatic wording about the deal terms. None of the reports provide additional details such as funding structure, ownership of the assets before the acquisition, or timing for completion.
Overall, the coverage focuses on the size and effect of the acquisition—Auric expands its mine-ready gold inventory following the Union Jack purchase.
