Beacon Minerals Limited (BCN) produced 5,241 ounces of gold during the June 2026 quarter from its operations in Western Australia. The company processed 235,602 dry tonnes of ore with a mill recovery rate of 86.9%, generating $29.95 million in sales revenue from 4,701 ounces sold. Operations were largely supported by mining activities at the Lady Ida project, where the company maintained a consistent 12-hour, seven-day work schedule despite heavy rainfall during June that impacted ore haulage logistics.

The company noted that the integration of the Iguana development remains a primary focus, following the successful start of production earlier this year. Executive management highlighted the strategic importance of this operational expansion:

"The first gold pour from the Lady Ida Iguana development on 1 April 2026 marked the first milestone under the Earn-in and Joint Venture Agreement and was an important step in the development of the Lady Ida Project."

— Graham McGarry, Executive Chairman and Managing Director

Operational reliability was bolstered by a long-term fuel supply agreement and the installation of additional on-site storage capacity, ensuring that mining and processing activities proceeded without significant interruptions. Management has set gold production guidance for the September 2026 quarter in the range of 5,000 to 6,000 ounces.

Beyond operational updates, Beacon Minerals announced a capital return program totaling $25.85 million. This return is split between a fully franked cash dividend of $0.10 per share and an in-specie distribution of 36,000,000 shares in Forrestania Resources Limited. The payment of the $0.10 per share cash dividend is scheduled for 21 July 2026. Following this, the company will proceed with the in-specie distribution of Forrestania Resources shares to eligible shareholders on 14 August 2026.

The company also reported a strengthening of its capital position through the exercise of 3,537,934 listed options during the quarter, which raised $4.24 million in new capital. This trend of option exercises continued into the current period, with an additional 1,444,489 options exercised after the quarter ended, contributing a further $1.73 million to the balance sheet. As of 30 June 2026, the company held 4,824 ounces of gold in its Perth Mint account, with an additional 390 ounces held in transit, providing further liquidity. The combination of sustained production levels and these capital management initiatives marks a notable period of activity for the company as it moves into the next quarter of the fiscal year.

Read the full announcement: June Quarter Production Update