leadf
logo-loader
viewBeacon Minerals Ltd

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

au_wa_map_6__358_53422d6f3fbb1.jpg

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.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

Quick facts: Beacon Minerals Ltd

Price: 0.038 AUD

ASX:BCN
Market: ASX
Market Cap: $108.84 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Time to strike for Newmark Security 'with clock hardware as a key business...

Proactive Analyst Ed Stacey takes the time to delve into the business model of Newmark Security (LON:NWT) which specialises in products and services in the security and data sectors. Stacey explains the company's operating divisions, which are People & Data Management as well as Physical...

1 hour, 24 minutes ago

2 min read