Beacon Minerals Limited (ASX: BCN), a Western Australian gold producer focused on developing and operating projects in the eastern goldfields, has released its quarterly report for the period ending 30 September 2025. The report highlights robust gold production, significant resource upgrades, and advancements in key projects. Gold production for the quarter totalled 6,884 ounces at an all-in sustaining cost (AISC) of A$4,092 per ounce. Mill throughput reached 248,827 dry tonnes, with ROM ore stockpiles at 537,000 tonnes containing approximately 15,600 ounces. The company anticipates gold production of between 6,800 and 7,500 ounces for the December 2025 quarter.
Financially, Beacon Minerals reported gold sales of 5,550 ounces at an average sale price of A$5,210 per ounce, generating A$28.9 million in revenue. As of 30 September 2025, the company held A$18.11 million in cash. The company also continues to implement a gold retention strategy, holding 4,616 ounces of gold at the Perth Mint and 1,393 ounces in transit as of 30 September 2025. The total value of gold held at the Perth Mint and in transit was valued at A$36.27 million based on the gold spot price on 30 October 2025.
Beacon Minerals has also announced significant updates to its resource and reserve statements. Mineral resources have increased by 217% to 20.9 million tonnes at 1.19 g/t for 799,000 ounces of gold. Ore reserves also saw an increase of 182% to 6.3 million tonnes at 1.24 g/t for 252,000 ounces of gold. The company has acquired the Wealth of Nations tenements and completed a 40:1 consolidation of its issued capital. Subsequent to the quarter, Beacon advised that it has reviewed and elected to cancel its on-market share buy-back program and sold its holding in Astral Resources (AAR) for $6.76 million, leaving Beacon with no holding in AAR.
Significant progress has been made at the Lady Ida – Iguana project, with primary approvals received for the Iguana Stage 1 project. These include approval from the Department of Mines, Industry Regulation and Safety (DMIRS) for the Mining Proposal and Mine Closure Plan, as well as a Native Vegetation Clearing Permit. A Stage 2 grade control drill program was completed, yielding high-grade intersections, further defining the Iguana deposit. Beacon is targeting first gold production from Iguana in early 2026.
