Ann: Gold Sales Exceed $100 Million From Jeffreys Find Gold Mine, page-3

Mr. Mark English, Managing Director:
“The first ore was shovelled at Jeffreys Find in May 2023. In just a couple of years this
short-life mine has now generated more than $100 million in gold sales for the
Project.
“Before starting we estimated a gold price of A$2,600 an ounce. Who could have
envisaged that we would be selling gold at more than A$4,600 an ounce. By any
measure it’s a brilliant result.
“However, not all the money is in the bank yet. We are expecting millions more in
surplus cash to be received. we are expecting millions more in cash over the next
few months.
“For the 2024/25 period, Stage Two of the Project, we’ve produced more than
17,900 ounces of gold with more processing to come. Our partner BML is negotiating
a toll milling agreement for a parcel of up 60,000 tonnes, which is currently on the
ROM Pad at the mine site. When everything is completed, we will get the final
picture on just how successful the Jeffreys Find Gold Mine has been.
“Our JV agreement with BML Ventures stipulates that only after all the gold has been
sold and all costs have been paid is the final surplus cash distribution paid.
“We’ve just received a further $1.5 million as an interim payment from BML which
brings us to $8.1 million in total for Stage Two payments.
“BML has advised to expect an additional $3 million to $4 million in cash payments
once the last of the gold is sold.
“Jeffreys Find Gold Mine has been a defining experience for Auric,” said Mr English.