Beacon Minerals (ASX:BCN) can commence mining operations at Halleys East after receiving approval to commence mining from the Western Australian Department of Mines and Petroleum.
Beacon is looking to complete ore processing and financing agreements for the project.
It is negotiating with a number of parties who have provided indicative proposals for processing of the ore from Halleys East. Ore processing negotiations are expected to be completed in Q2 2013.
An earlier optimization study by Minecomp in 2012, using a gold price of A$1,600, had outlined a potential mining inventory of 120,189 tonnes at 7.23 g/t gold for 25,936 ounces recovered at a cash operating cost of A$783 an ounce.
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