Auric Mining Limited (ASX: AWJ) is celebrating the commencement of open-pit gold mining at its Jeffreys Find Project in Western Australia.
“This is excellent progress by BML Ventures and Auric, a terrific achievement. Having the full mine proposal approved is fantastic, particularly given the high gold price. I commend both BML Ventures and our technical team in working together to achieve this result. I look forward to the next stage of mining and actually producing gold.” Managing Director, Mark English, said.
Mining
Commencing late-May, between 100,000t – 150,000t of ore will be hauled to the Greenfields Mill at Coolgardie where it will be toll treated. Gold produced will be forwarded to the Perth Mint for final refining and sale.
Auric’s partner is BML Ventures Pty Ltd (BML) of Kalgoorlie, a well known Kalgoorlie mining contractor. After completing the first stage, the partners will after deducting all costs split the surplus cash proceeds on a 50/50 basis. This should provide Auric with a substantial cash boost.
Once the first stage is complete, BML is expected to expand the mine to the final pit design in 2024. Mining is expected to be completed around 31 December 2024.
For further information please visit: https://www.auricmining.com.au/
