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Beacon raising A$18M in debt to bring Jaurdi gold project to production

Beacon Minerals Ltd. secured firm commitments for an A$18 million debenture issue to bring its Jaurdi gold project in Western Australia to production, according to a Sept. 3 release.

Company directors Graham McGarry and Geoff Greenhill as well as associated individuals have committed to subscribe for A$4.6 million of the debenture issue. Beacon is now completing relevant documents for the offering.

A pre-feasibility study for Jaurdi pegged a pretax net present value of A$70.5 million, a 75% internal rate of return and an 11-month payback period.