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Beacon Minerals increased its quarterly gold production by 19 per cent in the September quarter, as higher mill throughput and improved ore grades supported output at its Jaurdi processing plant in Western Australia.
The company increased its production from 5241 ounces (oz) to 6250oz during the quarter, while it processed 265,877 tonnes of ore at an average grade of 0.85 grams per tonne (g/t), up from 235,602 tonnes in the June period.
Beacon managing director Graham McGarry said mill operational performance continued to improve, with throughput increasing by 13 per cent on the June quarter.
“The increased leach and adsorption capacity will provide greater operational flexibility and support future production growth,” McGarry said.
The company’s Jaurdi mill upgrade is also progressing, with wet commissioning of an expanded tank farm commencing ahead of schedule on October 13. Initial commissioning has achieved milling rates of 1.2 million tonnes per annum (Mtpa).
Beacon sold 8300oz of gold during the quarter at an average price of $5998/oz, generating $49.78 million in receipts. Cash on hand stood at $27.69 million at September 30.
Quarterly all-in sustaining costs were $4531/oz, while cash operating costs were $3796/oz. The company’s average realised gold price eased from $6371/oz in the June quarter to $5998/oz in September, which McGarry said reflected softer gold prices during the quarter.
Beacon’s Lady Ida gold project also received a boost from its updated Iguana deposit ore reserve, announced in August. The reserve stands at 430,200oz of gold, representing a 325 per cent increase in contained gold compared with the previous estimate.
A pre-feasibility study outlined an approximately nine-year operating life, with ore to be hauled about 43km to the existing Jaurdi processing plant.
Beacon is also advancing a 17km road and pipeline from Geko to the Jaurdi facility, with commissioning planned for March 2027. The pipeline is expected to provide a supply of better-quality process water at 60 litres per second.
Looking to the end of the year, Beacon has forecast gold production of between 5500oz and 6500oz for the December quarter.
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