Final Ore From Jeffreys Find Project To Be Milled In July
Released
Released
Announcement PDF
ANNOUNCEMENT TO THE AUSTRALIAN SECURITIES EXCHANGE
3 MARCH 2025
Jeffreys Find Gold Mine
Final Toll Mill Agreement Executed
Highlights
•
BML Ventures Pty Ltd has signed a toll milling agreement with Focus Minerals Ltd.
•
60,000 tonnes of ore to be processed at Three Mile Hill Plant, Coolgardie, WA.
•
Toll milling targeted to commence in early July 2025 and will take approximately
three weeks.
•
This is the last ore from The Jeffreys Find Gold Mine. Once processed this is the
end of the Project.
•
Auric expecting a further $3 to $4 Million from the Project in July/August 2025.
Management Comment
Managing Director, Mark English, said: “There is about 60,000 tonnes of ore on the
ROM Pad at Jeffreys Find. We now have an agreement to get it processed.
“The Project will finish with a flourish, we can expect to receive a further $3 to $4
Million cash distribution in July and August.
The stellar gold price continues to boost the surplus cash flow generated from the
joint venture and exceeds all our expectations,” said Mr English.
Auric Mining Limited
ACN 635 470 843
Level 1, 1 Tully Road, East Perth WA 6004
PO Box 1057, Joondalup DC WA 6919
info@auricmining.com.au
08 9548 9997
auricmining.com.au
ASX: AWJ
ANNOUNCEMENT TO THE AUSTRALIAN SECURITIES EXCHANGE
3 MARCH 2025
Photo: The Jeffreys Find Pit at the conclusion of mining in January 2025.
The Announcement
Auric Mining Limited (ASX: AWJ) (Auric or the Company) is pleased to announce its
JV partner, BML Ventures Pty Ltd (BML or BML Ventures) of Kalgoorlie has executed
a Toll Processing Agreement with Focus Minerals Ltd (ASX: FML or Focus) to process
approximately 60,000 tonnes of ore, from the Jeffreys Find Gold Mine near
Norseman, WA.
Toll milling will commence in early July 2025 and processing is expected to last three
weeks.
Focus is the owner of the Three Mile Hill Plant at Coolgardie where the processing
will take place. The Plant has a name plate capacity of 1.2 million tonnes per annum.
BML currently has stockpiled more than 60,000 tonnes of ore on the ROM Pad at
Jeffreys Find ready for haulage to Three Mile Hill Plant.
Auric Mining Limited
ACN 635 470 843
Level 1, 1 Tully Road, East Perth WA 6004
PO Box 1057, Joondalup DC WA 6919
info@auricmining.com.au
08 9548 9997
auricmining.com.au
ASX: AWJ
ANNOUNCEMENT TO THE AUSTRALIAN SECURITIES EXCHANGE
3 MARCH 2025
Under the terms of the joint venture agreement, BML are the miners, operators and
managers of the Jeffreys Find Gold Mine. BML incurs and pays all mining, haulage,
milling costs and related expenses. After sale of the gold, the partners subtract all
direct costs before splitting the surplus cash proceeds on a 50:50 basis. Interim surplus
cash distributions are paid to Auric by BML after agreement between the partners.
Final reconciliation for the Project is due to take place in Q3 2025. Auric expects
to receive an additional $3 to $4 Million as a final cash distribution during this period.
Forward Looking Statement
This Announcement may contain forward-looking statements which are identified
by words such as ‘may’, ‘could’, ‘should’, ‘believes’, ‘estimates’, ‘targets’,
‘expecting’, or ‘intends’ and other similar words that involve risks and uncertainties.
These statements are based on an assessment of present economic and operating
conditions, and on a number of assumptions regarding future events and actions
that, as at the date of this Announcement, are considered reasonable. Such
forward-looking statements are not a guarantee of future performance and involve
known and unknown risks, uncertainties, assumptions, and other important factors,
many of which are beyond the control of the Company, the Directors, and the
management. The Directors cannot and do not give any assurance that the results,
performance, or achievements expressed or implied by the forward-looking
statements contained in this Announcement will actually occur and investors are
cautioned not to place undue reliance on these forward-looking statements.
This announcement has been approved for release by the Board of Auric Mining Ltd.
Corporate Enquiries
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Mark English
Managing Director
Auric Mining Limited
Alex Cowie
Director
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T +61 409 372 775
T +61 412 952 610
E menglish@auricmining.com.au E alexc@nwrcommunications.com.au
Auric Mining Limited
ACN 635 470 843
Level 1, 1 Tully Road, East Perth WA 6004
PO Box 1057, Joondalup DC WA 6919
info@auricmining.com.au
08 9548 9997
auricmining.com.au
ASX: AWJ
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