Beacon Minerals (ASX: $BCN) June 2024 Quarterly Report Highlights

Beacon Minerals Limited (ASX: $BCN) presents its Quarterly Activities Report for the period ended 30 June 2024. The report highlights gold production of 3,930 ounces, below budget due to high viscosities associated with processing the Geko stockpiles and high rainfall experienced in June. The company's gold sales for the quarter were 4,144 ounces at an average sale price of $3,550/oz, resulting in sale receipts of $14.71 million. Beacon had cash of $5.88 million at the end of the quarter, with capital expenditure for the quarter totaling A$11.34 million.

Beacon Minerals Managing Director Graham McGarry on June Quarter Performance

The June quarter continued with the pre strip at MacPhersons and ACAP. Ore mining has continued, and ore/waste ratios will improve as mining advances beyond historic workings. Principal ore feed to the Jaurdi treatment facility was from Geko and Lost Dog Low Grade stockpiles. Positive reconciliations on both grade and tonnes are evident on the Geko Low Grade stockpiles.

Beacon Minerals (ASX: $BCN) Outlook and Corporate Update

Beacon Minerals reported gold production below budget for the June quarter due to high viscosities and rainfall. The company's open pit mining at Geko is scheduled for 2026. Beacon had cash of $5.88 million at the end of the quarter and capital expenditure for the quarter totaled A$11.34 million. The company continues to review implementing forwards gold contracts and exploration work completed during the quarter focused on the MacPhersons Project Area and the recently acquired Mt Dimer Project Area. Beacon commenced the pre-strip of MacPhersons open pits in November 2023, with BCM movement since commencement totaling 2.2m BCM and $19m expended to date. The processing of low-grade stockpiles from Geko and Lost Dog continued and has formed the majority of the ore processed in the first six months of 2024. Additionally, the Company released the notice of meeting to vote on the Lady Ida transaction at a shareholder meeting to be held on 9 August 2024.