- Beacon Minerals (BCN) enters a forward sale facility with Swiss company MKS
- Beacon will sell 6000 ounces of gold to be delivered in monthly instalments from February to April 2023
- The gold will come from BCN’s Jaurdi project in Western Australia and will be sold at an average net price of $2729 per ounce
- Beacon says the price is a “material improvement” from the December quarter average gold price of $2634
- Company shares are up 3.45 per cent to trade at 3 cents at 3:13 pm AEDT
Beacon Minerals (BCN) has struck a forward sale facility agreement with Switzerland-based company, MKS.
Under this agreement, Beacon will sell 6000 ounces of gold to be delivered in monthly instalments from February to April 2023.
The gold ounces represent 70 per cent of Beacon’s budgeted production for the three-month period from its Jaurdi gold project in Western Australia.
The gold will be sold at an average net price of $2729 per ounce which the company said is a “material improvement” on the average price in the previous quarter.
Specifically, the $2729 per ounce price represents a $95 per ounce increase from the December quarter’s average gold price of $2634, and a $150 per ounce increase from the second half of CY22’s average gold price of $2579.
Beacon’s Jaurdi project comprises three mining centres at Lost Dog, Panther and Black Cat along with its own gold processing plant. The Jaurdi Project is now in its third full year of production at both the Lost Dog Mine and the Jaurdi Mill.
Company shares were up 3.45 per cent to trade at 3 cents at 3:13 pm AEDT.