In its first campaign of the year, Auric Mining (ASX:AWJ) has sold 1,256 ounces of gold from its Jeffreys Find Gold Mine in Western Australia, generating $4.46 million in revenue.
The company says 30,024 tonnes were processed at a grade of 1.44 grams per tonne by the Greenfields Mill in Coolgardie for BML Ventures, Auric’s joint venture partner.
The Greenfields Mill began toll milling Jeffreys Find ore on 17 April and the campaign finished on 30 April.
Notably, all the gold was sold at the Perth Mint for $3,549.48 per ounce — a marked increase over the $3,006-per-ounce figure Auric received last year.
“The increase in price is fantastic. We are going to have an exceptional year at Jeffreys Find,” Managing Director Mark English says.
The current gold price is sitting at about $3,523 per ounce, according to ABC Bullion.
“Whilst the first campaign of the year was a little smaller than anticipated because of rain in the Goldfields, the next mill allocation is for 145,000 tonnes,” English adds.
“Our joint venture partner is looking to double production and mine more than 300,000 tonnes during 2024. We expect the head grade to improve as the year progresses.”
Write to Aaliyah Rogan at Mining.com.au
Images: Auric Mining
