Start of Production and $2000 Gold = Re-rate, page-16

After falling 30 per cent short in their recent rights issues Beacon Minerals (ASX: BCN)directors Graham McGarry and Geoffrey Greenhill bought almost $1.6 million between them.
McGarry bought $974,560 in shares and Greenhill bought $596,204. Sarah Shipway also participated but only bought $11,354.
The split between the rights offer and the shortfall was not clear in the 3Y notice lodged with the ASX.

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Beacon Minerals’ main project is the Jaurdi gold project near Kalgoorlie in Western Australia. The company will commission a processing plant later this month as well as commence a drilling campaign.
It plans to drill 250-300 holes for between 15 and 20km, targeted closest to known reserves and resources.
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The Jaurdi Gold project mill on 28 May 2019 (Pic: Beacon Metals)
McGarry has put his money where his mouth is. He told shareholders last week: “We are very pleased with the on-going progress at the Jaurdi gold project. The onsite team carrying out the plant and associated infrastructure installation are doing a professional job.”
“The commissioning of the plant will mark a significant milestone for the Beacon team. The team has worked diligently to bring this green-fields site, that required the procurement and installation of all site infrastructure, to fruition.”
Last year’s pre-feasibility study estimated 2.5 million tonnes would be processed, delivering 126,000 tonnes of recoverable gold. It estimated a net project value of $70.5 million before tax and a payback period of only 11 months.
Beacon shares have been volatile in recent months but are currently 18 per cent higher than late April.