- Beacon Minerals has received revenue from the first sale of gold from its Jaurdi Gold Project
- Approximately 257 ounces were recovered from the initial gold bullion which have been sold at a price of $2190 per ounce
- The company also announced that the second dore bar has been produced
Beacon Minerals has received revenue from the first sale of gold from its Jaurdi Gold Project.
Approximately 257 ounces of gold were recovered from the initial gold bullion, which were sold at a price of $2,190 per ounce.
The Jaurdi Gold Project is located 35 kilometres north west of Coolgardie and is 100 per cent owned by the company.
The project has a forecast life of mine surplus operating cashflow of $98.4 million at a gold price of $1650 per ounce.
The company also announced that the second dore bar has been produced and despatched for refining at Perth Mint.
Beacon continues to ramp up to commercial production mining activities on site and has now recommenced mining activities to provide ore from Panel 1.
Managing Director Graham McGarry is pleased with the project and says it’s an exciting time for the company.
“We are very pleased that important hurdles are continuously being achieved by the company. We are on track for full production in Q4 2019,” Graham said.
“It is an exciting time for the company, with a record Australian gold price and the initial gold sale bringing first revenues into the company from production,” he said.
Beacon will commence exploration drilling on September 27 with the intent of growing its resource inventory.
Only 10 per cent of the paleochannel system at Jaurdi has been explored. Beacon is aiming to add additional ounces to grow the mine life.