Great to see a bit of positivity here for Beacon. Was always going to be a rough time between mining at Lost Dog and moving down to MacP and purchasing a heap of mining equipment. But now the majority of prestripping is done there's 5 quarters of dirt at a better grade than they're had for a while. Costs probably won't come down to where they were 2 years ago as they used to mine free digging dirt compared to the current hard rock where they need to drill and blast. But will lower with a current 3:1 dig ratio and will also improve on a $/oz basis as they will be producing more ounces. Gold in hand or in transit totalled 1857 ounces. That and hopefully a bit better than 6,500 ounces for the Dec Q at the current gold price makes me wonder why they needed to raise another $10.3m. But they did, so all shareholders can get their fill at what should (hopefully) be a low point in the share price.
BCN Price at posting:
2.4¢ Sentiment: None Disclosure: Held
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