Australian gold miner Auric Mining (ASX:AWJ) has reached a major milestone at its Jeffreys Find Gold Mine, with total gold sales now exceeding $100 million. Both Stage One and Stage Two operations have contributed significantly to this achievement. Stage Two alone has sold more than 17,900 ounces of gold at an average price of $4,024 per ounce, with the highest price reaching $4,625 per ounce.
Auric’s joint venture partner, BML Ventures, has advised that Stage Two is on track to deliver a cash surplus of between $11 million and $12 million for Auric. To date, Auric has received interim payments—most recently a $1.5 million distribution that brings Stage Two totals to $8.1 million—with further surplus cash distributions expected once all gold is sold and expenses are finalised.
There are approximately 60,000 tonnes of ore remaining on the ROM pad at the Jeffreys Find Gold Mine, which is located near Norseman in Western Australia. This remaining parcel is scheduled for processing in the coming months. Managing Director Mark English noted that the strong gold price, which far exceeded the initial estimate of $2,600 per ounce, has been a key factor in the mine’s success and that further cash distributions are anticipated as the project progresses.
