FinTechFunding

Beacon Minerals: Successfully acquires Geko tenements, WA

Beacon Minerals Successfully acquires Geko tenements, WA

  • Beacon Minerals (BCN) successfully acquires two new tenements from Geko Pit, as part of a plan to increase the life of the Juardi gold mine in Western Australia
  • Beacon now holds a 100 per cent interest in the mining lease M15/621 and miscellaneous licence L15/355
  • Both tenements are in close proximity to the Juardi gold processing plant, which Beacon plans to leverage to “maximise the potential” of the tenements
  • Beacon announced on December 2 its intentions to purchase the tenements for roughly $7.8 million in cash plus $3 million in royalties based on production
  • A compliant Mineral Resource estimate is expected in Q1, 2023
  • BCN shares are up 4 per cent on the market to trade at 2.6 cents at 11:51 am AEDT
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Steve Sam
Steve Sam
Steve Sam is a financial reporter, analyst, and commentator with a strong focus on banking technology, digital payments, and the future of financial services.

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