Beacon Minerals (ASX:BCN) has entered a toll milling agreement with FMR Investments whereby FMR will process gold ore produced from Beacon’s Halleys East project.
FMR is the owner and operator of the Greenfield’s mill, situated 3 kilometres east of Coolgardie, which has been servicing the regional gold industry for over twenty years.
Beacon will transport ore mined at Halleys East through Menzies to FMR’s Greenfields mill and pay FMR a fixed toll milling fee per tonne of ore processed.
Additionally, interim funding of $200,000 has been sourced from Lamberton, a company related to Beacon's managing director, on an unsecured basis with standard bank interest applied.
The toll milling development combined with access to funds on favourable terms starts to tie things together for BCN, and makes near term positive cashflow from Halleys East a likelihood.
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