Beacon Minerals (BCN) AGM 2024 Presentation summary

Financial and operational highlights

• Market capitalization stands at $97.2 million with $2.59 million cash and 1,857 oz gold bullion on hand as of September 30, 2024.

• FY 2024 gold production reached 23,068 oz, meeting guidance, with FY 2025 guidance set at 23,000–25,000 oz.

• Average gold sales price increased to A$3,096/oz in FY 2024, up from A$2,703/oz in FY 2023.

• $41.59 million in dividends paid since March 2021, including $16.55 million fully franked.

• Successful entitlement issue completed in November 2024, strengthening the balance sheet.

Production, costs, and operations

• Ore milled in FY 2024 was 759,214 DMT, an 11% decrease due to Geko oxide challenges and high rainfall.

• Sustaining costs (excluding capital) rose to A$2,891/oz in FY 2024, reflecting operational challenges.

• Crushing contractor engaged in October 2024 to boost crushed stocks and address mill throughput.

• MacPhersons mine grade is increasing at depth, with ongoing open pit mining and east wall cutback approved.

• Five years of continuous open pit mining planned, with MacPhersons/A-Cap, Tycho, and Lady Ida JV in the sequence.

Resources and reserves

• Total mineral resources (excluding Iguana) are 6.56 Mt at 1.39 g/t Au for 290,000 oz as of June 30, 2024.

• YOY resource decreased by 25,000 oz, mainly due to mine depletion; Mt Dimer adds 52,000 oz.

• Ore reserves decreased by 9,000 oz to 133,000 oz; Mt Dimer adds 21,000 oz.

• Lady Ida JV will add 609,000 oz to the resource base, significantly expanding future production potential.

• Geko resource stands at 1.38 Mt @ 1.3 g/t Au for 57,000 oz, with additional low-grade stockpiles.