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- West Australian gold producer Beacon Minerals (BCN) has exceeded its production target at the Jaurdi Gold Project for the September quarter
- The company was expecting to bring in 6400 to 6800 ounces of gold for the quarter, however, it produced 7453 ounces
- In September, Jaurdi produced 2790 ounces of gold and 40,836 dry tonnes were milled
- The company projects production at Jaurdi over the December quarter will land between 6600 and 7000 ounces of gold
- Additionally, Beacon will pay off its $18 million debt today, making it debt-free one year ahead of the agreed repayment date
- Beacon is up 7.89 per cent on the market this morning and is trading for 4.1 cents per share
West Australian gold producer Beacon Minerals (BCN) has exceeded its production target at the Jaurdi Gold Project for the September quarter.
The company was expecting to bring in 6400 to 6800 ounces of gold for the quarter, however, it produced 7453 ounces — around 10 per cent more than expected.
In September, Jaurdi produced 2790 ounces of gold, while 40,836 dry tonnes were milled for the month.
In terms of sales, Beacon sold 3002 ounces of gold at an average price of $2621 per ounce, generating $7.87 million.
The company projects production at Jaurdi over the December quarter will land between 6600 and 7000 ounces of gold.
Meanwhile, Beacon ended the quarter with $24.3 million in cash and 1082 ounces of gold in hand.
In October 2018, the company issued $18 million in debentures, which it could repay in part or in full 24 months down the line. Now, Beacon has advised it will finalise the repayment of the debentures today, one year ahead of the repayment due date. After today’s repayment, the company will be debt-free.
Beacon is up 7.89 per cent on the market this morning and is trading for 4.1 cents per share at 11:49 am AEDT.
