AWJ

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34.0¢ auric mining limited

Ann: Numerous high grade gold intercepts at Munda Grade Control, page-14

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WiffaSniffa

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12/02/24

15:35

Post #: 72362943
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Originally posted by Timothym7: ↑

Gold mining to recommence at Jeffreys Find...Is this the calm before the storm at Auric? I'm talking about a twister rolling into the company with an end result being a share price north of 30 cents and pretty damn soon. Admittedly I am a gold piglet, but a couple of recent announcements from AWJ deserve a bit of undressing as they appear awfully understated to me. First Jeffreys Find...BML will be hungry for greater success at JF in 2024. They are a small contractor who are developing a solid reputation for getting the job done. No doubt they also have payments to make to their bankers and managing cash is critical for them, like any business of this nature. At this moment they are mining at Selkirk near Menzies under a deal with Brightstar Resources and have been at it for quite a few months now.
Rich ore body in the 5+ g/t range is on offer and reading from their ASX announcements it is being hauled to the Gwalia Mill for processing. Toll milling is due to get underway in February with Brightstar claiming they will receive cash at the end of the first quarter. Not so sure about that but cash is definitely about to appear for BML. It would want to because millions of dollars have been flowing out of their door.
For sure we do know they are soon to pull up stumps at Menzies and head back to Norseman. With machinery and staff to be mobilized soon and mining to commence in March BML's focus now goes to Jeffreys Find. 175,000 tonnes pulled out in 2023 will be nothing to what they could haul out this year. The contractor knows everything about this mine and my guess is they will look to take out 200 per cent more tonnes than last year as it is easy mining. They are definitely taking out a bucket load more tonnes because Auric says the final phase pit is designed with gold at $2900 an ounce. Considering the average grade last year was 1.83 g/t Au you'd have to think BML would be looking at something close to 20,000 ounces of gold production in 2024 from Jeffreys Find. Taking that a step further and extrapolating Stage One results Auric could bank anywhere from $6m to $10m- much,much better than originally planned under their original scoping study which projected lower total ounces produced. In fact a quick check of the scoping study on the mine estimated 19,000 to 24,000 ounces in total produced over its short life.10k oz last year, 20k oz this year is on the cards. You must be thinking a 30% increase to get the numbers right on this one and thats what the shareholders like to see. BML are not stuffing around and a sure indication they want cash flow as soon as possible, which is the best possible news for Auric, who are effectively a silent partner in the project. Of course the people who are familiar with the whole gold mining process know that its a long wait from beginning blasting at the mine ,to seeing cash at the bank.
However , the scene is now set for a burster from Auric at Jeffreys Find. Then....bring on Munda where the real bucks are.

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interesting 1st Post.

Are you an employee of BML?

AWJ Price at posting: 11.5¢ Sentiment: Buy Disclosure: Held
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Ann: Numerous high grade gold intercepts at Munda Grade Control, page-14

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