https://www.engineeringnews.co.za

Beacon raises A$18m for Jaurdi restart

3rd September 2018

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – ASX-listed Beacon Minerals will raise A$18-million through a debenture issue to professional and sophisticated investors to fund the restart of its Jaurdi gold project, in Western Australia, in the first quarter of 2019.

A prefeasibility study released last week found that the project could deliver 126 000 oz of gold for a capital investment of A$21.4-million, generating revenue of A$208.5-million and an operating cash flow of A$98.4-million over a five-year mine life.

The project is estimated to have a net present value of A$70.49-million and an internal rate of return of 75%.

Jaurdi is expected to have a life-of-mine operating cash cost of A$830/oz, and an all-in sustaining cost of A$870/oz.

Beacon on Monday said to fund the restart of operations, the company would raise A$18-million through debenture issue, with directors Graham McGarry and Geoff Greenhill subscribing for a combined A$4.6-million of the debenture issue.

The proposed debentures will be secured by mortgage against the Jaurdi gold project’s mining leases, and security over the company’s plant and equipment used at the mining site.

Beacon shareholders are expected to vote on the transaction in an upcoming general meeting.

Edited by Mariaan Webb
Creamer Media Contract Publishing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Sweet-Orr
Sweet-Orr

Sweet-Orr, established in 1871, is a global leader in superior protective workwear, known for quality, innovation, and performance.

VISIT SHOWROOM 
ATI Systems
ATI Systems

ATI systems comprises five divisions: electrical assemblies, drives and controls, feedback sensors, enclosures, and strip guiding.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.045 1.175s - 140pq - 2rq
Subscribe Now