Join our daily newsletter At The Bell to receive exclusive market insights
Auric Mining (ASX:AWJ) has banked just under $5.2 million in gold sales from its Stage Two operation at Jeffrey’s Find goldmine in Western Australia, with 1,243 ounces sold to date.
Mining at Jeffrey’s Find – located close to Norseman in the state’s Goldfields-Esperance region – is being progressed through a joint venture between Auric and BML Ventures Pty Ltd of Kalgoorlie.
Together, they’ve overseen the processing of an estimated 64,520 dry metric tonnes through the Three Mile Hill mill at Coolgardie – being toll five.
Gold from the Three Mile Hill campaign (which amounted to 1,243 ounces) was sold at the Perth Mint for a total of $5,194,311.
Gold sales from toll milling campaigns in general have yielded $33,140,445 from Stage Two mining at Jeffrey’s Find, and managing director Mark English said these results had shown the mine’s value for Auric.
“It has been an outstanding investment, for the company and our shareholders,” he said.
“The return on investment and free cash flow 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,” Mr English said.
Auric shares moved down after the news, and at 12:09 AEDT, they were trading at 31.5 cents – a fall of 7.35% since the market opened.
Join the discussion: See what HotCopper users are saying about Auric and be part of the conversations that move the markets.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.
