Auric Mining -Jeffreys Find Gold Mine Toll Milling of 150,000 Tonnes Commenced.

Auric Mining released another encouraging update on the 25th of July.
The announcement highlights some notable recent achievements:

  • Processing of 150,000 tonnes commenced at Greenfields Mill.
  • On target to process 300,000 tonnes at Greenfields Mill in 2024/2025.
  • BML expects to mine well in excess of 300,000 tonnes in 2024/2025.
  • First cash distributions due this quarter.

Managing Director, Mark English, said “150,000 tonnes is a sizeable parcel of ore for this campaign. While it will take six weeks or so to mill, we expect it to generate well in excess of $25 million through gold sales for the joint venture”.

Canary Capital was attracted to the company because:

  • the company continues to execute on its programme of drilling and processing,
  • its gold processing is unhedged to the gold price.

We remind you that our last report is based on an AUD gold price of $3100. The current gold AUD gold price is $3762 on the 1st August 2024.

HIGHLIGHTS
• Processing of 150,000 tonnes commenced at Greenfields Mill.
• 75,600 tonnes on ROM Pad at Greenfields as of 23 July 2024.
• Second campaign expected to finish early September 2024.
• On target to process 300,000 tonnes at Greenfields Mill in 2024/2025.
• BML expects to mine well in excess of 300,000 tonnes in 2024/2025.
• First cash distributions to Auric this quarter.

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