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Beacon Minerals (ASX:BCN) - CEO, Graham McGarry - The Market Herald
CEO, Graham McGarry
Source: The West
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  • Beacon Minerals' (BCN) Jaurdi project produced 2908 ounces of gold last month which represents a record monthly production for the year so far
  • The gold producer milled 52,649 dry tonnes of material from the WA project, which is another increase from February
  • In terms of sales, Beacon sold 2573 ounces of gold at an average price of $2234 per ounce
  • As a result, the company brought in $5.75 million in sales receipts – a pleasing growth from the $4.54 million generated in February
  • Beacon's shares are up 2.94 per cent and are trading at 3.5 cents

Beacon Minerals (BCN) has reported on production and sales activity from its wholly-owned Jaurdi Gold Project in Western Australia.

Over the month of March, Beacon produced 2908 ounces of gold which is a significant increase from the 2462 ounces produced in February as well as an increase from the 2556 ounces produced in January.

Pleasingly, March production marks the highest monthly production so far this year.

Beacon milled 52,649 dry tonnes of material which, again, marks an increase from the 45,546 dry tonnes milled in February.

In terms of sales, the gold producer sold 2573 ounces of gold at an average price of $2234 per ounce. As a result, the company brought in $5.75 million in sales receipts – an impressive growth from the $4.54 million in the prior month.

For the March quarter, the Jaurdi project produced 7926 ounces but Beacon expects around 7000 ounces of gold will be produced in the current June quarter.

Beacon Minerals coupled these figures with a corporate structure update.

Over 3.57 billion ordinary shares, nearly 312 million listed options and exactly 180 million unlisted options are on issue.

By the end of the month, the company had $15.64 million in cash, noticeably less than the $27 million at the end of February, and it still doesn't have any debt.

Beacon's shares are up 2.94 per cent and are trading at 3.5 cents at 1:16 pm AEST.

BCN by the numbers
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