Jeffreys Find Sales in 2024 Exceeds 10,000 Ounces
Released
Released
Announcement PDF
ANNOUNCEMENT TO THE AUSTRALIAN STOCK EXCHANGE
23 DECEMBER 2024
Jeffreys Find Gold Mine
2024 Sales Exceed10,500 Ounces
Highlights
•
Total ounces sold in 2024 reaches 10,693 ounces.
•
Total gold sales from Stage Two mining to date A$41.1Million.
•
Latest sales from two gold mills sees 1,899 ounces sold at A$4,172 per ounce.
•
Next campaign at Three Mile Hill started on 22 December 2024.
•
Campaign at Greenfields enters fourth week with a target of 142,000 tonnes.
•
Cash distributions to Auric in December 2024 and continuing into 2025.
Management Comment
Mr. Mark English, Managing Director:
“We have now raced past 10,500 ounces of gold sold for the year, surpassing the
9,741 ounces achieved in 2023.
“The best is yet to come from Jeffreys Find as gold campaigns from two mills hurtle
us towards an early finish for this mine.
“We are seeing a rush of ore going through the mills. A significant amount of gold
will be sold over the coming weeks.
“Everyone is beyond happy with the results from the initial campaign at Three Mile
Hill, the next campaign started yesterday. Meanwhile, at Greenfields, the mill is into
a fourth week of processing.
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 STOCK EXCHANGE
23 DECEMBER 2024
“The ambition is to process more than 420,000 tonnes for Stage Two at Jeffreys Find,
versus the 176,000 tonnes in Stage One. We are now into the significant part of the
final phase of the Project. It has been an outstanding investment, for the Company
and our Shareholders,” said Mr English.
Photo: The Jeffreys Find Pit on 19 December 2024.
The Announcement
Auric Mining Limited (ASX: AWJ) (Auric or the Company) is pleased to announce an
update on gold sales and revenue from Stage Two mining of the Jeffreys Find Gold
Mine (the Project), near Norseman, WA.
Through Auric’s joint venture partner BML Ventures Pty Ltd of Kalgoorlie (BML) an
estimated 64,520 dry metric tonnes was processed in a maiden gold campaign by
the Three Mile Hill Plant at Coolgardie (Three Mile Hill). Gold is still at the Perth Mint
with further gold sales imminent before a final reconciliation of this campaign.
Another milling campaign at Three Mile Hill, toll seven for the Project, started on 22
December 2024. It is expected another 30,000 tonnes will be processed. Another
campaign is planned for early 2025.
At the Greenfields Mill, Coolgardie (Greenfields) processing, toll six for the Project,
has been underway since 28 November 2024 with a target of 142,000 tonnes to be
processed for this campaign. Gold pours are being conducted on a weekly basis.
Between 13 and 20 December 2024, a further 1,899 ounces of gold has been sold
at the Perth Mint at an average price of A$4,172 per ounce.
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 STOCK EXCHANGE
23 DECEMBER 2024
Gold sold from Jeffreys Find Gold Mine in 2024 has now reached 10,693 ounces.
Total gold sales for 2024 now amounts to A$41,063,367 with an average sale price
of A$3,840 per ounce.
Stage Two Mining – Gold Sold
2024
Previous
Campaigns
Current
Campaigns
Total Stage 2
to 20 December
Gold Sold – Ounces
8,794
1,899
10,693
Average Sale Price per
ounce AUD
$3,769
$4,172
$3,840
Gross Gold Revenue
$33,140,445
$7,922,922
$41,063,367
Includes rounding errors.
The Joint Venture is between Auric and BML. 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. Surplus cash
distributions are paid to Auric by BML after agreement between the partners. There
will be further interim cash distributions in December 2024 and early in 2025. The final
reconciliation and cash distribution will take place in 2025.
Previous ASX Announcements
Reference documents included in this announcement:
Announcement Date
29 May 2024
16 Aug 2024
29 Aug 2024
02 Oct 2024
13 Dec 2024
Auric Mining Limited
ACN 635 470 843
Announcement Title
$4.46 Million from First Gold from Jeffreys Find in 2024
Gold Sales in August Total $6.3M. Toll Milling Continues
Gold Sales for 2024 Exceed A$18M. Toll Milling Continues
Total Gold Sales of $23.5M from Jeffreys Find Campaign
Further gold sales. 1,243 ounces sold; Total sales $5.2M
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 STOCK EXCHANGE
23 DECEMBER 2024
Forward Looking Statements
This Announcement may contain forward-looking statements which are identified
by words such as ‘may’, ‘could’, ‘should’, ‘believes’, ‘estimates’, ‘targets’,
‘expected’, 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 Managing Director of
Auric Mining Ltd.
Corporate Enquiries
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Mark English
Managing Director
Auric Mining Limited
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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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