Jeffreys Find Gold Mine Generates $5.2M from 1,243oz
Released
Released
Announcement PDF
ANNOUNCEMENT TO THE AUSTRALIAN STOCK EXCHANGE
13 DECEMBER 2024
Jeffreys Find Gold Mine
Further Gold Sales
1,243 Ounces Sold; Total Sales $5.2M
Highlights
•
First toll milling campaign at Three Mile Hill Mill completed, more sales pending.
•
Toll milling continues at Greenfields Mill, first sales next week.
•
Total ounces sold from stage two mining to date totals 8,794 ounces.
•
Total gold sales from stage two mining to date is $33.14 Million.
•
Highest sale price at AUD$4,233 per ounce.
•
Auric expects to receive further interim cash distributions by the end of the year.
Management Comment
Mr. Mark English, Managing Director:
“Jeffreys Find will soon start to deliver further substantial cash for Auric, we are
extremely happy. It has been an outstanding investment, for the Company and our
Shareholders.
“The return on investment and free cashflow that will be generated from mining
Jeffreys Find is a terrific result.
“2024 has been an excellent year for Auric. The mining at Jeffreys Find was always
a key part of our business plan and strategy. The impetus that has been generated
this year should carry us forward into 2025 and future years,” 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
13 DECEMBER 2024
Photo: The Jeffreys Find Pit
The Announcement
Auric Mining Limited (ASX: AWJ) (Auric or the Company) is pleased to announce
further gold sales from stage two mining from 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 were processed by the Three Mile Hill mill at
Coolgardie (Three Mile Hill or Mill), being toll five. These numbers are subject to final
reconciliation.
A total of 1,243 ounces of gold has now been sold by the Perth Mint from the Three
Mile Hill campaign, with gold sales totalling $5,194,311, more sales pending.
Gold sales to date total $33,140,445 for the toll milling campaigns, from stage two
mining, with an average gold price of AUD$3,768 per ounce. The highest gold price
achieved during the campaigns to date was AUD$4,233 per ounce.
To date, Stage Two of mining, throughout 2024 has produced 8,794 ounces of gold.
This is over three separate toll milling campaigns.
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
13 DECEMBER 2024
Stage Two Mining – Gold Processing Campaigns
2024
Previous
Announcement
Current Gold
Sales¹
Total Stage 2¹
Dry Tonnes Milled
157,634
33,857
191,491
Head Grade g/t Au
1.61
1.22
1.54
Gold Recovered – Ounces
7,551
1,243
8,794
Mill Recovery %
92.72%
93.60%
93.60%
Average Sale Price per
ounce
$3,701
$4,178
$3,768
Gross Gold Revenue
$27,945,282
$5,194,311
$33,140,445
Includes rounding errors
¹ Estimated subject to change
Greenfields Mill is contracted to mill 300,000 tonnes in 2024/2025 from the Jeffreys
Find Gold Mine. The final milling campaign for 142,000 tonnes, toll six, commenced
on 28 November 2024. This campaign will finish in January 2025.
Three Mile Hill Mill is contracted to mill a maximum of 120,000 tonnes. The first
approximate 64,500 tonnes, toll five, has been milled. There is still gold to be sold.
Final reconciled milled tonnes, gold sales, gold in circuit (GIC) reconciliation and
related matters are in progress. Another milling campaign is planned to commence
late in 2024.
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 2025. The final
reconciliation and cash distribution will take place in 2025.
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
13 DECEMBER 2024
Previous ASX Announcements
Reference documents included in this announcement:
Announcement Date
29 May 2024
16 Aug 2024
29 Aug 2024
02 Oct 2024
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
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
NWR Communications
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T +61 409 372 775
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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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