The project is expected to produce 1.5 million tonnes of gold at a cost of $1.5 million per tonne.
The Greenfields Mill Project
The Greenfields Mill project is a significant gold mining operation located near Coolgardie in Western Australia. The project is a joint venture between Auric Mining and BML Ventures, with the aim of producing high-quality gold concentrates.
Key Facts
The Toll Milling Campaign
The final and biggest toll milling campaign at the Greenfields Mill is a critical phase of the project.
The Jeffreys Find: A Hidden Gem
The Jeffreys Find is a gold deposit located in Western Australia, known for its rich gold deposits and challenging geology. For years, the deposit was considered too low-grade and too difficult to develop, leading to its passing over by several mining companies. However, Auric Mining has taken a different approach, recognizing the potential of the deposit and investing in its development.
The Challenges of the Deposit
The Jeffreys Find is a complex deposit, characterized by its low-grade gold deposits and challenging geology. The deposit is located in a remote area, making it difficult to access and transport ore. Additionally, the geology of the deposit is complex, with multiple fault lines and fractures that make it difficult to extract the gold. Key challenges: + Low-grade gold deposits + Challenging geology + Remote location + Difficulty in accessing and transporting ore
The Auric Mining Approach
Auric Mining has taken a different approach to developing the Jeffreys Find. The company has invested heavily in the development of the deposit, including the construction of new infrastructure and the hiring of experienced personnel.
The partnership model is structured so that BML Ventures will receive a percentage of the gold sales and the local mill operators will receive a percentage of the gold sales as well. This model allows for a win-win situation for all parties involved.
The Partnership Model
Auris has developed a unique partnership model with BML and the two local mills that is proving to be highly effective in delivering cash to all four parties. This model is built on a shared risk approach, where BML Ventures takes on the mining risk and provides the working capital necessary to get the project off the ground. In return, the local mill operators receive a percentage of the gold sales, providing them with a direct financial benefit.
Key Components of the Partnership Model
The Munda Gold Mine: A Hidden Gem
Located in Western Australia, the Munda gold mine is a significant asset for Auric. The mine has been in operation since 2009, and it has consistently delivered strong gold production.
The Munda Mine: A Gold Rush in Papua New Guinea
The Munda mine, located in the Eastern Highlands Province of Papua New Guinea, is a significant gold mining operation that has been generating substantial revenue for the country. The mine’s impressive resource base and potential for high-grade gold production make it an attractive investment opportunity for mining companies and investors alike.
Geology and Resource Base
The Munda mine is situated in a region known for its rich gold deposits, with the mine’s geology characterized by a combination of volcanic and sedimentary rocks. The mine’s resource base is estimated to be over 200,000 ounces, with a grade of above 2 grams per tonne. This translates to a significant amount of gold, with the potential to produce a substantial amount of revenue. The mine’s resource base is divided into several deposits, including the Munda Main, Munda North, and Munda South deposits. The Munda Main deposit is the largest of the three, with a resource base of over 100,000 ounces. The Munda North and Munda South deposits are smaller, but still significant, with resource bases of around 50,000 ounces each.
Production and Revenue Potential
The Munda mine has the potential to produce a significant amount of gold, with the mine’s production forecasted to reach 100,000 ounces per year.
Auric is a skilled and experienced player, and his team has been working hard to prepare for this challenge.
The Challenge Ahead
Auric and his team are facing a significant challenge in the next two months. They need to collect a substantial amount of gold and items to complete Jeffreys Find, a high-stakes quest that requires a large amount of resources. The team has been preparing for this moment, but they know that the competition will be fierce.
