“We’ll make sure to generate around $7 million worth of gross revenue out of this parcel. So throughout 2024, (with) 300,000 tonnes (of gold ore) going through that mill, we will certainly double our production on what we did compared to 2023 … This year, we’ll do a minimum of 20,000 ounces (of gold),” said English.
“Even if we look at what we did in 2023, just a difference in the gold price, we would have netted an extra $9 (million) to $10 million in the joint venture. So you know, the price is king at the moment.”
Ore processing at the mill commenced on April 16 of this year, with the first parcel expected at 40,000 dry tonnes. Auric Mining expects to receive its first cashflow from Phase 2 in May.
Watch the full interview with Auric Mining Managing Director Mark English above.
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