OREMAVEN
XMM 7,722.00 -2.63% YTD +5.6% OM ASX 450.55 -2.56% YTD +0.1% OM PRECIOUS 349.20 -2.24% YTD +2.5% OM EX-PREC 418.91 -2.72% YTD -1.1% XAU 4,115.59 +2.31% YTD -4.9% GLD 375.49 +0.81% YTD -5.2% GDX 85.75 +1.37% YTD -0.0% SIL 77.33 -1.00% YTD -7.3% COPX 70.23 -5.81% YTD -1.8% URNM 40.07 -2.79% YTD -27.0%
2026-11-06
◂ Monitor AUC ASX

Ausgold Limited

DFS Unfunded Developer · Gold · AU Rating locked: sign in to view v8.1 · auc-20261102t225752-full
Last 2026-11-06
A$1.295
1D
—
1M
—
YTD
—
1Y
—
Upside
Locked: sign in to view
Mkt cap
A$714.6M
EV
A$674.1M
Cash
A$42M
Debt
A$0

Portfolio detail

Assets

2 assets

Core asset

Katanning Gold Project

AU

DFS Unfunded Developer100% ownedGold

Pre-development: FID not made (the 2026 target is withdrawn); granted mining leases over the full footprint (July 2026); WA EPA authorised the environmental review for public release, response to submissions pending; subject to OceanaGold scheme

Developer · DFS unfunded developer
Study
Updated DFS, Dec 2025 (life-of-mine case)
Post-tax NPV (study prices, attributable)
A$1.0bd
NPV restated at our deck (attributable)
Locked
IRR
5,240.0%
Initial capex (100%)
A$354.0m
Capital intensity
A$2,990/(oz/yr)d
LoM AISC
A$2,252/oz
Mine life
10.3 yrs

Project location

Site imagery

Sentinel-2 · 10 m
Loading location…

© OpenStreetMap contributors. Basemap imagery © Esri (Maxar, Earthstar Geographics). Dated overlays contain modified Copernicus Sentinel data. Visible surface changes do not establish production or completion.

Published study economicsIssuer or study metrics
NPVA$1B5% discount
IRR52.4%Published return
Initial capexA$354MPublished capital estimate

Post-tax, real, ungeared NPV5 at A$4,300/oz (AUD/USD 0.65), 30% tax, 2.5% WA royalty, life of mine from 2028 first gold on the study timeline.

Resources & reserves7
TypeCategoryQuantityGradeContained mineralsDate
Mineral ResourceMeasured41.6 Mt1.14 g/t AuGold2025-06-30
Mineral ResourceIndicated21.2 Mt1.02 g/t AuGold2025-06-30
Mineral ResourceInferred5.9 Mt1.16 g/t AuGold2025-06-30
Mineral ResourceTotal68.6 Mt1.11 g/t AuGold2025-06-30
Ore ReserveProved30.3 Mt1.14 g/t Au (Central 1.14, South 0.97)Gold2025-12-16
Ore ReserveProbable7.1 Mt0.97 g/t Au (weighted)Gold2025-12-16
Ore ReserveTotal37.4 Mt1.11 g/t AuGold2025-12-16
Tenements4
ten-ml-1449Granted— None · No expiry supplied
ten-ml-1450Granted— None · No expiry supplied
ten-ml-1451Granted— None · No expiry supplied
ten-ml-211Granted— None · No expiry supplied
Milestones4
  1. Workforce accommodation village handover by ADD Group

    Pending · Low materiality

  2. Scheme implementation expected (OceanaGold completion)

    Pending · High materiality

  3. Final investment decision (no longer targeted for 2026)

    Delayed · High materiality

  4. First gold production (OceanaGold timing)

    Pending · High materiality

Permits & approvals2
PermitJurisdictionStatusExpiryCritical path
WA EPA environmental review: authorised for public release July 2026, response to submissions requiredWestern AustraliaPending—Yes
Mining leases over the full development footprintWestern AustraliaGranted—No
Economic studies2
StudyStageStatusDateSummary
Updated Definitive Feasibility Study (December 2025)Updated FeasibilityCurrent2025-12-16Open-pit, 3.6 Mtpa CIL plant; life of mine 10.3 years; 1.22 Moz recovered (90.4% recovery); pre-production capital A$354M incl. contingency; AISC A$2,252/oz life of mine; post-tax NPV5 (real, 5%) A$1,028M and IRR 52.4% at A$4,300/oz.
Definitive Feasibility Study (June 2025)DFSSuperseded2025-06-30Superseded: post-tax NPV5 A$954M, IRR 53.2%, pre-production capital A$355M, life of mine 9.7 years (comparative column of the December 2025 study).

Other

Katanning regional tenements (100%)

AU

Early Explorer100% ownedGold

Exploration licences over about 3,000 km2 of the Katanning Greenstone Belt; no resource or economic study

Exploration · Early explorer
Ownership
10,000.0%
Commodity
Aur
Country
AUr
Best recent intercept (grade x width)
21.1 g/t.md
Metres drilled (12M)
—
Exploration spend (12M)
—

d derivedr our researchg guidances study forecastm daily marketNo marker: as reported— / NM missing or not meaningful (hover for why)