Beacon Minerals (ASX: $BCN) Jaurdi Gold Project Production Update

Beacon Minerals Limited (ASX: $BCN) has reported the production update for the Jaurdi Gold Project in the June 2024 quarter. The company produced 3,930 ounces of gold with a mill recovery of 86%. Additionally, 160,848 dry tonnes were milled during the quarter, resulting in gold sales of 4,144 ounces at an average sale price of $3,550/oz, generating $14.71 million in sale receipts. Furthermore, 784 ounces of gold were in transit, and the company sold 12,600,609 shares in AUN for a receipt of $640,000.

Executive Commentary on Production Update

Rainfall has significantly impacted our production during the quarter, with a 42% increase in YTD rainfall compared to 2023. The unexpected rain conditions, including an 88% YTD increase compared to 2023 and 58mm higher than average June rainfall with over 14 rain-affected days, have posed challenges. However, mining at MacPhersons Reward has remained consistent, with material movement ahead of schedule and 68,000 tonnes of ore stockpiled on the ROM pad. We have also awarded the ore haulage contract and obtained permits, with the first ore expected to arrive at Jaurdi in the third week of July. Additionally, the haul road from the mine to Coolgardie townsite has been upgraded and completed.

Summary of Jaurdi Gold Project Production Update

Beacon Minerals Limited (ASX: $BCN) has faced production challenges due to unexpected rainfall, resulting in a 42% increase in YTD rainfall compared to 2023. Despite these challenges, the company has maintained consistent mining operations at MacPhersons Reward, with material movement ahead of schedule and 68,000 tonnes of ore stockpiled on the ROM pad. Furthermore, the company has awarded the ore haulage contract, obtained permits, and upgraded the haul road from the mine to Coolgardie townsite. The company's ability to adapt to the adverse weather conditions demonstrates resilience and commitment to its production goals. Looking ahead, Beacon Minerals remains focused on overcoming challenges and achieving its production targets at the Jaurdi Gold Project.