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