Auric Well-funded for Stage 2 Mining at Jeffreys Find After $4.7M Cash from Phase 1
Auric Mining Limited (ASX:AWJ) is cashed up for the second round of mining at Jeffreys Find in Western Australia after Phase 1 generated more than $4.7 million in free cash, according to an article published in The Sydney Morning Herald.
Phase 2 mining aims to extract a minimum of 300,000 tonnes of ore, with the first parcel expected by mid-April 2024.
Auric and JV partner BML Ventures produced more than 9,740 gold ounces from two mining campaigns in 2023 generating a total revenue of $29.28 million for the first stage of the two-year project.
“Our level of confidence is high that Stage 2 will produce substantially more ounces, compared to 2023,” commented Auric Mining managing director Mark English.
Read the full article here.
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