Beacon Minerals (BCN.AX) has released the production results of its Jaurdi gold project. During the September quarter, the company produced almost 7,300 ounces of gold but sold only 5,690 ounces which means the company once again added more gold to its inventory levels as the company has been selling less gold than it has produced for three consecutive quarters now. According to the recent update, Beacon had almost 2,400 ounces of gold in inventory.
The company also processed a record tonnage of 166,211 tonnes in the September quarter as the mill exceeded the design throughput by about 33%. Despite this excellent achievement, the company is sticking with its full-year production guidance of 24-28,000 ounces of gold.
The company also recently updated its resource estimate on the MacPhersons project, which is located just about 45 kilometers from the Jaurdi processing facilities. MacPhersons currently contains 176,000 ounces of gold in an open pit-based resource estimate, with an initial 60,000 ounces at 1.17 g/t gold in the reserve category. This could keep the Jaurdi operations going for a few more years while Beacon Minerals continues to explore the targets within trucking distance from the processing plant.
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