Auric Mining (ASX:AWJ) is expecting to achieve first gold sales imminently after dispatching six gold doré bars to the Perth Mint.
The bars weighed 64.68kg and have been dispatched to the government-owned mint for refining and sale.
Auric, which has a $23.67 million market capitalisation, says the six gold bars are the result of toll milling of 30,300 dry metric tonnes of gold ore from its Jeffreys Find Gold Project in Western Australia through a joint venture with private gold company BML Ventures.
The gold was processed through the Greenfields Mill at Coolgardie, where milling began on 17 April and finished on 30 April.
Up to 176,000 tonnes of ore was processed to recover 9,741 ounces of gold.
Auric and BML are on track to mill more than 300,000 tonnes in 2024.
“BML are wrapping up the first gold campaign of the year from Jeffreys Find,” Auric Managing Director Mark English says.
“It looks good and will create millions of dollars in gross revenue for our joint venture. BML are currently stockpiling ore at the mine and at the mill. The next processing campaigns at the mill are scheduled for July and August 2024. Jeffreys Find Gold Mine will be a substantial cash producer to Auric throughout 2024 and 2025.”
Auric Mining is a gold explorer and developer which holds a portfolio of gold projects in Western Australia. The company’s assets include the Widgiemooltha, Munda, and Jeffreys Find gold projects.
BML Ventures is a Western Australia-based company which funds, develops, and operates open pit gold mines.
Write to Adam Drought at Mining.com.au
Images: iStock
