Beacon Minerals Limited's current focus is at the Jaurdi Gold Project and transitioning from mining of the Lost Dog Pit to construction of the processing facility and associated infrastructure.

Beacon announced on 19 June 2019 that the commissioning phase has commenced at the Company’s 100% owned Jaurdi Gold Project, located circa 35kms northwest of Coolgardie. Commissioning will progressively ramp up with full production expected in Q4 2019.

Pre-feasibility Study (PFS)

The Company released its PFS results to the market on 29 August 2018 which outlined the following key metrics which lead to proceed to the decision to mine:

• 500,000tpa processing capacity;
• Processing an estimated 2.5Mt @ 1.9g/t (148koz)2 will deliver 126koz of recovered gold;
• Pre‐production capital cost of $21.4M;
• Pre‐production payback period 11 months;
• Ore Reserves provide a mine life of 5 years which is likely to increase with the inclusion of the Black Cat Resources and exploration upside;
• Forecast Life of Mine (LOM) revenue $208.5M and surplus operating cash flow of $98.4M at $1,650/oz. gold price;
• Development of one shallow, low strip ratio open pit provides a low mining cost with an extremely low pre‐stripping cost;
• LOM operating cash cost (C1) of A$830/oz;
• LOM All‐In‐Sustaining Cost (AISC) of A$870/oz;
• NPV A$70.49M (before tax);
• IRR of 75% (before tax); and
• Carried forward Australian tax losses of approximately $17M up to and including 30 June 2017.

With Australian dollar spot gold price at circa $1,955 (20 June 2019), vs the $1,650 price used in the PFS, there is significant upside to the operational cash surplus outlined above. For full details of the PFS, please refer to the PFS announcement dated 29 August 2018