Beacon Minerals (ASX:BCN) Reports 31% Increase in Q4 Gold Production
Production Performance
Beacon Minerals Limited achieved gold production of 6,861 ounces for Q4 2024, marking a 31% increase compared to the previous quarter and surpassing the guidance of 6,500 ounces. Mill throughput reached 208,673 dry tonnes, up 30% from September quarter, with a mill recovery rate of 87.4%. ROM ore stockpiles stood at 269,000 tonnes containing 7,150 ounces. The company has set production guidance for the March quarter between 7,000 and 8,000 ounces.
Financial Overview
The company reported quarterly gold sales of 6,551 ounces at an average price of A$4,060 per ounce, resulting in sale receipts of A$26.6 million. Closing cash was A$16.71 million as of 31 December 2024, with bullion on hand or in transit totaling 1,960 ounces. Cash costs were reported at A$2,891 per ounce, excluding royalties and stock adjustments. Capital expenditure totaled A$3.297 million, covering exploration, capital works, and equipment purchases. Corporate expenditure was A$909,000. Additionally, Beacon completed a fully underwritten non-renounceable entitlement issue, raising A$10.3 million.
Exploration Activities
Exploration efforts concentrated on the MacPhersons Project, with 3,616 meters of drilling completed during the quarter. Drilling in new areas at Mt Dimer is scheduled to commence in February 2025. At the Lady Ida Iguana Project, an eight-hole diamond drill program began, aiming to deliver results by Q2 CY25. Ground magnetic surveying was also conducted in Timor-Leste, enhancing the understanding of potential Cyprus-type VMS mineral systems.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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