Jeffreys Find Stage Two Sales Exceed 14,800 Ounces
Released
Released
Announcement PDF
ANNOUNCEMENT TO THE AUSTRALIAN STOCK EXCHANGE
14 JANUARY 2025
Jeffreys Find Gold Mine
Stage Two Sales Exceed 14,800 Ounces
Highlights
•
Total ounces sold from Stage Two as at 13 January 2025 is 14,853 ounces.
•
Total gold sales from Stage Two mining as at 13 January 2025 is A$58.7Million.
•
Latest sales from two gold mills sees 4,160 ounces sold at A$4,239 per ounce.
•
All processing at Three Mile Hill mill is now completed.
•
Campaign at Greenfields enters 7th week, on target to mill 142,000 tonnes.
•
Interim cash distributions received to 13 January 2025 is A$6.6M (ex GST).
•
Further substantial cash distributions to Auric to come.
Management Comment
Mr. Mark English, Managing Director:
“Jeffreys Find Gold Mine has now produced and sold 14,853 ounces of gold from
stage two, with more to come.
“The gold sales have come at a time of record gold prices; we are delighted. The
additional cash the high gold price will generate for the joint venture and therefore
Auric is substantial. A significant amount of gold will be sold over the coming weeks.
“We will achieve our ambition to process more than 420,000 tonnes for Stage Two
at Jeffreys Find, versus the 176,000 tonnes in Stage One. As I have said many times,
it has been an outstanding investment, for the Company and our Shareholders, and
exceeded 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 STOCK EXCHANGE
14 JANUARY 2025
Photo: Doré bars at Three Mile Hill mill.
The Announcement
Auric Mining Limited (ASX: AWJ) (Auric or the Company) is pleased to announce an
update on gold sales, revenue and interim cash distributions from Stage Two mining
of the Jeffreys Find Gold Mine (the Project), near Norseman, WA as at 13 January
2025.
Through Auric’s joint venture partner BML Ventures Pty Ltd of Kalgoorlie (BML), an
estimated 91,850 dry metric tonnes was processed in two gold campaigns by the
Three Mile Hill Plant at Coolgardie (Three Mile Hill) tolls 5 and 7. Further gold sales are
imminent before a final reconciliation of the Gold in Circuit (GIC) and production
for these two campaigns.
At the Greenfields Mill, Coolgardie (Greenfields) processing of 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 20 December 2024 and 13 January 2025, a further 4,160 ounces of gold
has been sold at the Perth Mint at an average price of A$4,239 per ounce.
Gold sold from Jeffreys Find Gold Mine in 2024/2025, up to 13 January 2025 has now
reached 14,853 ounces.
Total gold sales for 2024/2025 up to 13 January 2025 now amounts to A$58,696,144
with an average sale price of A$3,952 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
14 JANUARY 2025
Stage Two Mining – Gold Sold
2024
Previous
Current Gold
Announcements Sales
Total Stage 2
to 13 January
Gold Sold – Ounces
10,693
4,160
14,853
Average Sale Price per
ounce AUD
$3,840
$4,239
$3,952
Gross Revenue AUD
$41,063,367
$17,632,777
$58,696,144
Includes rounding errors.
Up to the 13 January 2025 Auric has received interim cash distributions totalling
A$6,600,000 (ex GST). Auric expects further interim cash distributions on a regular
basis until the final accounting and completion of all mining and gold sold towards
the end of Q1/ 2025.
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. Interim surplus
cash distributions are paid to Auric by BML after agreement between the partners.
There will be further interim cash distributions in January and February 2025. The final
reconciliation and cash distribution, subject to all ore being processed and gold
sold, is expected to take place towards the end of Q1/2025.
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
23 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
2024 Sales Exceed 10,500 ounces.
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
14 JANUARY 2025
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 Board of Auric Mining Ltd.
Corporate Enquiries
Investor Relations
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Mark English
Managing Director
Auric Mining Limited
Alex Cowie
Director
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T +61 409 372 775
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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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