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Highlights:
Auric Mining (ASX:AWJ) has commenced a 142,000-tonne milling campaign at Greenfields Mill, processing ore from the Jeffreys Find Gold Mine in Western Australia.
The milling campaign, scheduled to run for seven weeks, is expected to be completed by January 2025.
Auric Mining is set to refine and sell all gold through The Perth Mint, with cash disbursements expected to continue into the New Year.
Auric Mining (ASX:AWJ) has begun a 142,000-tonne milling campaign at its Greenfields Mill, located in Western Australia. The campaign, which will run for seven weeks, is set to process ore sourced from the nearby Jeffreys Find Gold Mine. The processing of the ore is expected to be completed by the end of January 2025.
Prior to initiating the milling campaign, 54,000 tonnes of gold-bearing ore were already on the run-of-mine (ROM) pad at Greenfields. Additionally, over 85,000 tonnes of ore are waiting on the ROM pad at the Jeffreys Find Mine site for transport to the mill. Auric Mining will conduct a weekly gold pour during the campaign, with all gold refined and sold through The Perth Mint.
Auric Mining’s Managing Director, Mark English, highlighted that the ore being processed is high-grade, and the company anticipates that this campaign will produce the highest number of gold ounces for the year. English further stated that the haulage of ore is happening around the clock, as the project progresses towards its objectives.
The company’s joint venture with BML Ventures, which manages the mining operations at Jeffreys Find, is also on track to complete the processing of 30,000 tonnes of ore from the second stage of the project. Under this joint venture, BML Ventures is responsible for the mining, haulage, and milling costs, with both parties sharing the proceeds on a 50:50 basis.
Auric Mining, focused on gold exploration and development in Western Australia’s Widgiemooltha District, is positioned to benefit from the current solid gold market, with cash flow continuing into the New Year.
