Latest news with #BML
West Australian
5 days ago
- Business
- West Australian
Auric eyes $4.5M windfall from final Jeffreys Find WA mining campaign
Auric Mining has fired up a final toll milling campaign at its Jeffreys Find gold mine near Norseman in Western Australia's Goldfields. The final 60,000-tonne batch of ore is set to produce a handy 2750 ounces of gold to close out the company's wildly successful joint venture with BML Ventures. The ore is now being processed at Focus Minerals' Three Mile Hill mill in Coolgardie, tying a bow on Auric's 30,000-ounce total gold target from Jeffreys Find. The final push is projected to generate up to $9 million in surplus cash. Auric's 50:50 share is expected to be between $4 million and $4.5 million. Under the joint venture, Kalgoorlie-based BML will again carry the mining, haulage and milling costs for Jeffreys Find. Auric says it has already invoiced BML for a $3.6 million interim distribution to be paid in July and August, with final accounting slated for the next quarter. Auric has closely studied BML's toll treating strategy, as it looks to replicate the joint venture's success and mining practices at its latest and largest flagship Munda gold project, just up the road from Jeffreys Find. The Jeffreys Find project has been a financial springboard for Auric. With its $17 million war chest from its share of gold sales, the company will now deploy its fully funded mining operation at the 125,000-tonne starter pit, which is already underway at Munda. The initial pit is targeting a minimum 6100 ounces at 1.8 grams per tonne (g/t) gold from a broader resource at Munda of 3.65 million tonnes grading 1.23g/t gold for 145,000 ounces. The 145,000-ounce Munda deposit is one of the largest undeveloped gold resources in the Kalgoorlie region, which is a key factor in Auric securing a lucrative toll treatment agreement with mid-cap gold producer Black Cat Syndicate for the Munda starter pit ore. Black Cat has opened its gates to Auric and will process ore at its currently under-capacity Lakewood mill in Kalgoorlie. Spare capacity is an absolute rarity in the region. The soaring gold price means toll treating options have become notoriously hard to find and the region's mills are reportedly backed up well into 2027. Auric says its Munda deal will generate more than $28 million in revenue at current gold prices. The deal also benefits Black Cat, slotting nicely into its 'more gold, sooner' strategy in the booming Kalgoorlie goldfields. Auric's first 40,000t ore parcel from a smaller starter pit is slated for September, with one or two additional campaigns to follow, wrapping up by early next year. Auric's 2023 scoping study - based on a then $2600 per ounce gold price - projected $76.9 million in surplus cash from Munda's main pit. With gold now trading at nearly double that figure, the financial upside could be staggering for the company as it looks to become a standalone gold producer. The company recently scooped up the old Burbanks processing plant outside Coolgardie, two prospective leases near Westgold's Higginsville operation and the Lindsay's gold project for $4 million, signalling its ambition to become self-sufficient in the not-too-distant future. With Jeffreys Finds final gold haul hitting the mill and Munda's starter pit in full swing, Auric looks to be turning its once modest toll-mining plays into fully-fledged standalone Aussie gold production. Is your ASX-listed company doing something interesting? Contact:
The Age
5 days ago
- Business
- The Age
Auric eyes $4.5M windfall from final Jeffreys Find WA mining campaign
Auric Mining has fired up a final toll milling campaign at its Jeffreys Find gold mine near Norseman in Western Australia's Goldfields. The final 60,000-tonne batch of ore is set to produce a handy 2750 ounces of gold to close out the company's wildly successful joint venture with BML Ventures. The ore is now being processed at Focus Minerals' Three Mile Hill mill in Coolgardie, tying a bow on Auric's 30,000-ounce total gold target from Jeffreys Find. The final push is projected to generate up to $9 million in surplus cash. Auric's 50:50 share is expected to be between $4 million and $4.5 million. Under the joint venture, Kalgoorlie-based BML will again carry the mining, haulage and milling costs for Jeffreys Find. Auric says it has already invoiced BML for a $3.6 million interim distribution to be paid in July and August, with final accounting slated for the next quarter. Auric has closely studied BML's toll treating strategy, as it looks to replicate the joint venture's success and mining practices at its latest and largest flagship Munda gold project, just up the road from Jeffreys Find. 'Auric will bank more than $17 million in total from its profit share of the mining at Jeffreys Find.' Auric Mining managing director Mark English Auric Mining managing director Mark English said: 'This has been a game-changer for us as we transition to becoming a gold producer in our own right. These additional funds will principally be used to support the operations already underway at Munda.' The Jeffreys Find project has been a financial springboard for Auric. With its $17 million war chest from its share of gold sales, the company will now deploy its fully funded mining operation at the 125,000-tonne starter pit, which is already underway at Munda. The initial pit is targeting a minimum 6100 ounces at 1.8 grams per tonne (g/t) gold from a broader resource at Munda of 3.65 million tonnes grading 1.23g/t gold for 145,000 ounces. The 145,000-ounce Munda deposit is one of the largest undeveloped gold resources in the Kalgoorlie region, which is a key factor in Auric securing a lucrative toll treatment agreement with mid-cap gold producer Black Cat Syndicate for the Munda starter pit ore. Black Cat has opened its gates to Auric and will process ore at its currently under-capacity Lakewood mill in Kalgoorlie. Spare capacity is an absolute rarity in the region. The soaring gold price means toll treating options have become notoriously hard to find and the region's mills are reportedly backed up well into 2027.
Sydney Morning Herald
5 days ago
- Business
- Sydney Morning Herald
Auric eyes $4.5M windfall from final Jeffreys Find WA mining campaign
Auric Mining has fired up a final toll milling campaign at its Jeffreys Find gold mine near Norseman in Western Australia's Goldfields. The final 60,000-tonne batch of ore is set to produce a handy 2750 ounces of gold to close out the company's wildly successful joint venture with BML Ventures. The ore is now being processed at Focus Minerals' Three Mile Hill mill in Coolgardie, tying a bow on Auric's 30,000-ounce total gold target from Jeffreys Find. The final push is projected to generate up to $9 million in surplus cash. Auric's 50:50 share is expected to be between $4 million and $4.5 million. Under the joint venture, Kalgoorlie-based BML will again carry the mining, haulage and milling costs for Jeffreys Find. Auric says it has already invoiced BML for a $3.6 million interim distribution to be paid in July and August, with final accounting slated for the next quarter. Auric has closely studied BML's toll treating strategy, as it looks to replicate the joint venture's success and mining practices at its latest and largest flagship Munda gold project, just up the road from Jeffreys Find. 'Auric will bank more than $17 million in total from its profit share of the mining at Jeffreys Find.' Auric Mining managing director Mark English Auric Mining managing director Mark English said: 'This has been a game-changer for us as we transition to becoming a gold producer in our own right. These additional funds will principally be used to support the operations already underway at Munda.' The Jeffreys Find project has been a financial springboard for Auric. With its $17 million war chest from its share of gold sales, the company will now deploy its fully funded mining operation at the 125,000-tonne starter pit, which is already underway at Munda. The initial pit is targeting a minimum 6100 ounces at 1.8 grams per tonne (g/t) gold from a broader resource at Munda of 3.65 million tonnes grading 1.23g/t gold for 145,000 ounces. The 145,000-ounce Munda deposit is one of the largest undeveloped gold resources in the Kalgoorlie region, which is a key factor in Auric securing a lucrative toll treatment agreement with mid-cap gold producer Black Cat Syndicate for the Munda starter pit ore. Black Cat has opened its gates to Auric and will process ore at its currently under-capacity Lakewood mill in Kalgoorlie. Spare capacity is an absolute rarity in the region. The soaring gold price means toll treating options have become notoriously hard to find and the region's mills are reportedly backed up well into 2027.
Business Recorder
04-07-2025
- Business
- Business Recorder
BML accelerates recapitalization with major capital injections
KARACHI: In a decisive move to strengthen its financial foundation and position itself for accelerated growth, Bank Makramah Limited (BML) has announced significant capital injections alongside a major strategic asset sale. According to BML announcement, it is making significant strides in its recapitalization efforts, reinforcing its commitment to long-term financial stability and growth. This progress is supported by a recent Rs 5 billion deposit from Nasser Abdulla Hussain Lootah, BML's esteemed Sponsor. This amount, to be recorded as an advance against share subscription pending regulatory approvals, follows his earlier Rs 10 billion capital injection in 2023. In addition, the proposed merger of Global Haly Development Limited, a company owned by the Sponsor, into BML reflects his substantial commitment, which will total Rs 41 billion. The Bank extends its deepest gratitude to the Sponsor for his unwavering support and vision for BML and Pakistan's banking sector. In a concurrent strategic move, BML's Board of Directors has approved the sale of Cullinan Tower in Clifton, Karachi, for a confirmed offer of Rs 12 billion. This landmark transaction represents a major step, which will result in significant liquidity and capital gains for the Bank. Further bolstering its financial position, the Bank is in the final stage of recovering over PKR 13 billion of its legacy non-performing loans in the near future resulting in a strong impact on its profitability and capital base. All of the above initiatives are projected to increase BML's net assets by around Rs 50 billion. This shall further strengthen the Bank's commitment to better serve its customers and play a significant role in the financial sector of Pakistan. It may be mentioned that Bank Makramah is a leading financial institution in Pakistan, known for its commitment to providing exceptional banking services to its customers. With a focus on innovation and customer-centric solutions, Bank Makramah continues to set new benchmarks in the industry, ensuring that their customers enjoy secure, reliable, and personalized banking experiences. Copyright Business Recorder, 2025
Korea Herald
16-06-2025
- Entertainment
- Korea Herald
Beautiful Mint Life packs out 3-day festival
54 artists each performed for almost an hour across three separate stages Celebrating its 16th anniversary this year, Korea's leading spring music festival Beautiful Mint Life 2025 (BML) came to a close Sunday following three days of indie music at its very best. Held Friday to Sunday across the Olympic Park area in Songpa-gu, Seoul, Beautiful Mint Life featured performances on three main stages: the outdoor Mint Breeze Stage set up at the 88 Lawn Field, the indoor Cafe Blossom House at Kspo Dome and the lakeside Loving Forest Garden. A total of 45,000 festivalgoers filled the venue over three days. Despite the hot weather on the final day of the festival, all three stages were packed with fans, leaving no room to spare. While last year's festival featured 36 teams over two days, this year's schedule expanded to three days, featuring 54 artists. Each artist was given 50 to 60 minutes, creating a full-scale concert vibe. The first artist to take the Mint Breeze Stage on Sunday was Jung Woo-seok, a former member of the boy band Pentagon, who debuted his new band Kik, whose lineup includes Jung Min-hyuk, guitarist of Lacuna, and Oh Myung-seok, drummer of Surl. Kik announced the upcoming release of its first EP on June 30, drawing enthusiastic cheers from the crowd. The acts that followed included Hanroro, who opened for Coldplay at their concert in Korea in April; YdBB, known for refreshing melodies; and Roy Kim, who delighted the audience with his warm sentiments and hit songs. As the sun began to set, Kim Sung-kyu, leader of Infinite, returned to the Mint Breeze Stage for the second consecutive year and performed "Closer," an unreleased track. This year's headliner was singer-songwriter Younha, celebrating her 20th debut anniversary. Themed around the concept of "voyage," she took the stage in sailor-inspired attire and thrilled the audience with powerful renditions of songs like 'Point Nemo' and 'Event Horizon.' Lee Seok-hoon, a member of vocal group SG Wannabe and a solo artist, made his BML debut this year, performing on the Cafe Blossom House stage. He touched hearts with the self-penned song 'It Was You,' dedicated to his son. Next up was 10CM, whose sole official member, Kwon Jung-yeol, sang this year's BML theme song, 'To Reach You.' His cool vocals and witty stage presence energized the indoor crowd seeking shelter from the heat. The final act on the indoor stage was Davichi, who connected with fans in a spectacular sing-along of hit tracks. Throughout the festival, a variety of events took place in one corner of the lawn, including a beer-chugging contest with artists, calligraphy workshops, DIY classes, a poetry contest and a drawing competition. Winners of these events received tickets to Waterbomb 2025 and the Grand Mint Festival 2025, leading to enthusiastic participation and fierce competition. The flea market offering LPs and music-related merchandise was also a big hit.
