Auric Mining's Impressive Gold Sales from Jeffreys Find Stage Two
AWJ (AWJ) Share Update January 2025 Monday 13th
Auric Mining Reports Strong Gold Sales from Jeffreys Find Stage Two
Auric Mining Limited (ASX: AWJ) has reported robust gold sales from the second stage of its Jeffreys Find Gold Mine, marking a significant milestone for the company.
Instant Summary:
- 14,853 ounces of gold sold from Stage Two as of January 13, 2025.
- Total gold sales from Stage Two amount to A$58.7 million.
- Latest sales of 4,160 ounces at A$4,239 per ounce.
- Completion of processing at Three Mile Hill mill.
- Greenfields campaign enters 7th week, targeting 142,000 tonnes.
- Interim cash distributions of A$6.6 million received.
Gold Sales Overview
Auric Mining Limited has announced a significant update on its gold sales from the Jeffreys Find Gold Mine, located near Norseman, Western Australia. As of January 13, 2025, the company has sold a total of 14,853 ounces of gold from Stage Two operations, generating A$58.7 million in revenue.
The latest sales, amounting to 4,160 ounces, were conducted at an impressive average price of A$4,239 per ounce. This comes amid record gold prices, providing a substantial boost to the company's financials.
Operational Milestones
The processing at the Three Mile Hill mill has been completed, marking a key operational milestone. Meanwhile, the campaign at the Greenfields mill is progressing into its seventh week, with a target to process 142,000 tonnes of ore.
Interim cash distributions to Auric have reached A$6.6 million, with expectations for further substantial distributions as operations continue.
Management's Perspective
Mark English, Managing Director of Auric Mining, expressed satisfaction with the results, highlighting the strategic importance of Jeffreys Find. He noted that the high gold prices have significantly enhanced the project's profitability, benefiting both Auric and its joint venture partner, BML Ventures Pty Ltd.
The strong gold sales and high prices are likely to positively impact Auric Mining's stock, as investors may see this as a sign of robust financial health and operational success. The completion of processing at Three Mile Hill and ongoing operations at Greenfields further demonstrate the company's efficiency and capability in managing large-scale mining projects.
Investor Reaction:
Analysts are expected to react positively to Auric Mining's announcement, given the impressive sales figures and favorable market conditions. The company's ability to capitalize on high gold prices may boost investor confidence and attract further interest in the stock.
Conclusion:
Investors should consider Auric Mining's strong performance at Jeffreys Find as a positive indicator of the company's potential for future growth. With ongoing operations and favorable market conditions, Auric appears well-positioned to continue delivering value to its shareholders.