Auric Mining (ASX:AWJ) has started milling at the Three Mile Hill Plant in Coolgardie. This marks the commencement of processing ore from the Jeffreys Find Gold Mine, a joint venture with BML Ventures Pty Ltd. Operations began on November 20, 2024.
Auric Mining (ASX:AWJ) has initiated operations at the Three Mile Hill Plant, processing ore from the Jeffreys Find Gold Mine in collaboration with BML Ventures. The project aims to initially mill 40,000 tonnes of ore, with potential expansion up to 75,000 tonnes, based on conditions. The joint venture entails a 50:50 profit-sharing agreement post-costs. Additionally, operations at Greenfields Mill will contribute to processing approximately 420,000 tonnes by early 2025, completing Stage Two of the Jeffreys Find Gold Project. Auric expects regular gold pours and subsequent cash distributions, reinforcing its strategic focus on enhancing production and revenue.
The first gold pour is expected within seven days from the start of milling, and we anticipate cash distributions to Auric in December 2024.