Mining almost 10,000 ounces of gold in 2023, Auric star to rise significantly in 2024 as mining expands

Resource Investing

Auric Mining Set to Double Gold Production at Jeffreys Find Amid High Gold Price, CEO Says

Resource Investing News

“We've been able to mine (Jeffreys Find), we did a good deal with the joint venture partner, (and) the gold price has been our friend … We're going to make a substantial amount of money in 2024,” said Auric Mining Managing Director Mark English.

Auric Mining (ASX:AWJ) has commenced Phase 2 of gold production at Jeffreys Find, with nearly 20,000 tonnes of ore delivered to the Coolgardie mill. The company’s managing director, Mark English, said the company is poised make a “substantial amount of money” in 2024 as it intends to double its production amid high gold prices.

“We'll make sure to generate around $7 million worth of gross revenue out of this parcel. So throughout 2024, (with) 300,000 tonnes (of gold ore) going through that mill, we will certainly double our production on what we did compared to 2023 … This year, we'll do a minimum of 20,000 ounces (of gold),” said English.

“Even if we look at what we did in 2023, just a difference in the gold price, we would have netted an extra $9 (million) to $10 million in the joint venture. So you know, the price is king at the moment.”

Ore processing at the mill commenced on April 16 of this year, with the first parcel expected at 40,000 dry tonnes. Auric Mining expects to receive its first cashflow from Phase 2 in May.

Watch the full interview with Auric Mining Managing Director Mark English above.

Disclaimer: This interview is sponsored by Auric Mining (ASX:AWJ). This interview provides information which was sourced by the Investing News Network (INN) and approved by Auric Mining in order to help investors learn more about the company. Auric Mining is a client of INN. The company’s campaign fees pay for INN to create and update this interview.

INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.

The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Auric Mining and seek advice from a qualified investment advisor.

This interview may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, receipt of property titles, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The issuer relies upon litigation protection for forward-looking statements. Investing in companies comes with uncertainties as market values can fluctuate.

AWJ:AU

asx stocks gold exploration gold stocks asx: awj resource investing Resource Investing

Outlook Reports

Browse Companies

MARKETS

Markets
TSX	22465.37	+165.54
TSXV	615.17	+11.90
DOW	40029.44	+25.85
S&P 500	5319.57	+16.30
NASD	16785.53	+99.56
ASX	7814.40	-66.90

COMMODITIES

Commodities
Gold	2421.45	+2.03
Silver	31.89	+0.49
Copper	5.05	0.00
Oil	79.74	-0.32
Heating Oil	2.50	0.00
Natural Gas	2.71	+0.09