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Beacon Minerals Limited (ASX:BCN)

ALERT: Price-sensitive ASX Announcement for BCN
Current share price for BCN : $3.450 0.36 (11.65%)+
Announcement
Release
20 Aug 2026 9:48AM
Price at Release
$3.090
Full Release
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Summary
Beacon Minerals Limited announced an updated Ore Reserve Statement for the Iguana Deposit, with an Ore Reserve of 11 million tonnes at a grade of 1.20 g/t Au, amounting to 430,200 ounces of gold. The project, as outlined in the Pre-Feasibility Study, has a lifespan of 9 years with a processing recovery rate of 88.1% and all-in sustaining costs of A$3,283 per ounce, anticipated to yield a pre-tax free cash flow of A$841 million. With capital costs estimated at A$2.5 million, the mining operations will employ conventional open-pit methods and process ore at the Jaurdi facility, located 43 km from the deposit. The estimates are JORC 2012 compliant, and the report includes cautionary statements about gold price dependencies, with sensitivity analyses at varying gold prices.
Key Points
  • The Iguana deposit contains an Ore Reserve of 11 million tonnes at an average grade of 1.20 g/t Au, totaling 430,200 ounces of gold.
  • A Pre-Feasibility Study was conducted, confirming a project life of 9 years with a processing recovery of 88.1% and an all-in sustaining cost (AISC) of A$3,283 per ounce.
  • The project is expected to generate a pre-tax free cash flow of A$841 million, with capital costs estimated at A$2.5 million.
  • The mineral resources are reported inclusive of the Ore Reserves with a conversion ratio of 81%.
  • Key mining approvals have been granted, with mining operations using owner-operated conventional open-pit mining methods.
  • The Jaurdi processing facility will be used for processing, located 43 kilometers from the deposit.
  • The Ore Reserve and Mineral Resource estimates are compliant with the JORC 2012 Code.
  • The report includes cautionary statements about the dependence on gold price and market conditions, with sensitivity analyses conducted for various gold prices.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.