AWJ Jeffreys Find Gold Mine. Second Toll Milling Campaign Completed. Gold Sales Total $23.5M.

Canary Capital is happy to share the latest production details from Jeffreys Find Gold Mine, where Auric Mining (ASX: AWJ) have recently completed their second toll milling campaign for 2024. The results are impressive because a substantial portion of the total mining costs for Jefferys Find have now been paid. Coupled with the higher gold price, this allows Auric to mine and process lower-grade ore for higher revenue than forecast.

Highlights

• 6,295 ounces of gold produced from 128,000 tonnes milled
• Gold sales for this campaign totalled $23.5 Million
• Highest sale price reached AUD $3,859 per ounce
• Exceptional average sale price of AUD $3,731 per ounce
• Auric has received an initial surplus cash distribution of $2.0 Million

The second toll milling campaign has exceeded our expectations, demonstrating the continued strength and potential of the Jeffreys Find Gold Mine. Auric has processed 127,610 dry metric tonnes at the Greenfields Mill in Coolgardie, achieving an impressive 93.2% recovery rate. The reconciled head grade of 1.65 g/t, while slightly below expectations, was offset by the exceptional gold prices received from the sales.

Managing Director Mark English summarized the campaign’s success: “We are in the sweetest possible place with the mining of Jeffreys Find. Total production for the year has passed 7,500 ounces. Another toll milling campaign is scheduled for the end of November”. 

Canary congratulates the team at Auric Mining on their achievements and we remain optimistic about the prospects of the company as it moves towards production at the larger Munda project. With another milling campaign scheduled for late November and negotiations underway for processing additional tonnes in 2025, Jeffreys Find will continue to be an outstanding investment for Auric Mining Limited. Mining at the Jefferys Find gold mine will conclude on December 24, 2024, with milling to extend into the first and second quarter of 2025. Final payments are expected in the second quarter of 2025.