Auric Mining

Jeffreys Find Gold Mine - Stage One Reconciliation Total Surplus Cash to Auric $4.77 Million9,741 Ounces Produced

Auric Mining Limited (ASX: AWJ) (Auric or the Company) is pleased to announce a final reconciliation from Stage One mining of the Jeffreys Find Gold Mine (the Project) near Norseman, WA.


HIGHLIGHTS:

  • Gross revenue of $29.28 million.
  • Total cash proceeds to Auric $4,766,039(ex GST).
  • 9,741 ounces of gold produced.
  • Gold sale price averaged $3,006 per ounce.
  • Company is self-funding for 2024.


Management Comment

Managing Director, Mark English, said “What a fantastic result! To produce 9,741 ounces of gold in stage one of mining and Auric receiving $4.7 million, being its share of total surplus cash distributions, is a terrific achievement.

Stage One of mining has taken six months - not long to generate almost $30 million in gross revenue and $9.5 million in total surplus cash to be split by the partners.

The second campaign returned a head grade of 1.93 grams per tonne, way ahead of the first campaign which produced at 1.58 g/t. Better still was an average gold price of $3,021/ounce for the second parcel which yielded more than 8,000 ounces.

Perth Mint sold gold at $3,131/ounce, the highest price for gold bullion received in Australian dollars at the time. The timing was excellent.

We are extremely happy with the capability of BML. They are an excellent small miner and partner. Planning is well underway for 2024. BML are working on the parameters for a final pit. Considering the Stage One pit was premised on a gold price of $2,600/ounce, we may see a more expansive approach to mining in 2024.

Auric has achieved what very few other junior miners have ever done – gone from tenement acquisition to IPO listing, production, then cash in the bank in just three years. We are now self-funding, which cannot be over emphasised in this tight financial market.”


Click here for the full ASX Release

This article includes content from Auric Mining, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

AWJ:AU
Auric Mining

Auric Mining Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Auric Mining (ASX:AWJ)

Auric Mining


Keep reading...Show less
Altiplano Reports Q4 2023 Operational Results at Farellon with Improved Cu Grade and Output

Altiplano Reports Q4 2023 Operational Results at Farellon with Improved Cu Grade and Output

Altiplano Metals Inc. (TSXV: APN) (WKN: A2JNFG) ("Altiplano" or the "Company") is pleased to report on Q4 2023 operation results from the Farellon Copper-Gold-Iron (Cu-Au-Fe) mine located near La Serena, Chile.

The Company extracted a total of 9,114 tonnes of mineralized Cu-Au material and processed 8,125 tonnes during Q4 2023 at Farellon. This represents a 12% and 13.6% increase respectively from the Q3 production and processing figures. Mine production in Q4 represented the highest quarterly production over the 2024-year period. Copper grade improved in Q4 to 1.87% representing an 8.7% increase from the 1.72% Cu recovered in Q3. Sales of 325,328 pounds of copper in 2023 Q4 generated approximately US$798,919 in revenue (after processing costs), an increase of 25% over the $639,458 revenue figure received in Q3 - an increase related mainly to processing higher Cu grade material.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Warriedar Resources

Drilling Recommences at Ricciardo

Warriedar Resources Limited (ASX: WA8) (Warriedar or the Company) is pleased to announce the commencement of 2024 drilling activities at its Golden Range and Fields Find Projects in the Murchison region of Western Australia. Initial activities are focussed on an extensional Reverse Circulation (RC) drilling program at the sizeable Ricciardo gold deposit.

Keep reading...Show less
andrew chanin, clock pointing to "mitigate risk"

Andrew Chanin: Natural Disaster Stocks — How to Invest Before, During and After

As the cost of natural disasters rises, it's worth investing in companies that help before, during and after.

That's according to Andrew Chanin, CEO of Procure ETFs. He created the Procure Disaster Recovery Strategy ETF (NASDAQ:FIXT), which tracks companies engaged in natural disaster preparedness and recovery.

With holdings ranging from NVIDIA (NASDAQ:NVDA) to Babcock International Group (LSE:BAB,OTC Pink:BCKIF) to Home Depot (NYSE:HD), the fund is up nearly 30 percent since its launch in mid-2022.

Keep reading...Show less
Odessa Minerals

Targets Generated at Gascoyne East Project

Odessa Minerals Limited (ASX:ODE) (“Odessa” or the “Company”) is pleased to announce that it has completed an airborne gradiometer magnetic and radiometric survey over the Company’s +2,100 square kilometre tenement package at its Gascoyne East Project (“Project”) in the Gascoyne region of Western Australia.

Keep reading...Show less
Odessa Minerals

Odessa Minerals Limited (ASX: ODE) – Trading Halt

Description

The securities of Odessa Minerals Limited (‘ODE’) will be placed in trading halt at the request of ODE, pending it releasing an announcement. Unless ASX decides otherwise, the securities will remain in trading halt until the earlier of the commencement of normal trading on Tuesday, 27 February 2024 or when the announcement is released to the market.

Keep reading...Show less
Auric Mining

Auric Mining Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×