Auric (ASX:AWJ) deliver first bars
Auric Mining has delivered its milestone first gold bars to the Perth Mint for final refining as processing of the initial 36 thousand tonne ore parcel from the Jeffreys Find Gold Mine nears completion at the Greenfields Gold Mill in Coolgardie.
More than 100,000 tonnes of ore are now sitting on the ROM pad at Jeffreys Find, and while the total ounces from initial toll mining is yet to be revealed, a gold price now over $300 per ounce higher than budgeted for has the short-term gold play already showing headier economics.
Auric Managing Director Mark English said the company was highly satisfied to have put more tonnage through the mill than it had anticipated.
“The project is on schedule and going according to plan. To have the last gold pour of our maiden milling program just as Diggers and Dealers starts in Kalgoorlie is a wonderful reminder that junior explorers like us have a future in The Goldfields of Western Australia. We are delighted with the progress to date,” Mr English said.
“In a short amount of time we will have a clear understanding on how the project is unfolding with ounces recovered from the first ore parcel. Together with our partners, BML Ventures of Kalgoorlie, we are confident the result will reconcile well with estimates of mined tonnes and grade,” he added.
The project life is short, but expected to burn bright, and Auric is now on target to achieve a first phase ambition of mining and processing up to 180 thousand tonnes from Jefferys Find, with final mining expected to be wrapped up as soon as the end of 2024.
One of the first bars delivered to the mint.
$0.275