viewBeacon Minerals Ltd

Beacon Minerals on path to cash flow with gold ore milling, Western Australia


Beacon Minerals (ASX: BCN) has started milling of ore from its Halleys East gold project at FMR Investments’ Greenfields mill in Coolgardie, Western Australia.

The company will continue to deliver ore to the facility over the coming months as it progresses development of the pit at Halleys East.

About 6,900 tonnes of ore had been delivered to the mill as of mid-March ahead of the first milling campaign of 10,000 tonnes.

A pre-feasibility level open pit mine design study for the Halleys East project, compiled by Minecomp, resulted in a probable mining reserve of 58,500 tonnes at 10.6 grams per tonne gold containing 20,000 gold ounces.

The study indicates recovery of 18,430 ounces of gold at a cash operating cost per ounce of $685.

Beacon will pay a royalty to Duketon Consolidated of $36 per ounce recovered for a total all in operating cost of $721 per ounce. An advance of $250,000, representing the first 6,944 ounces, has been paid.


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Quick facts: Beacon Minerals Ltd

Price: 0.038 AUD

Market: ASX
Market Cap: $108.84 m

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