Beacon Minerals Limited provided a production update at its 100% owned Jaurdi Gold Project. The company announced that it has entered into a 5,000 ounce forward gold contract to be delivered in monthly installments from February to June 2020 at a forward price of AUS 2,331 per ounce. The forward contracts provide a secure cash margin on a portion of Beacon's future gold production. Beacon provided the production numbers for the first three months of commercial production. October 2019 gold production of 1,364 ounces (oz); November 2019 gold production of 1,511 oz, approximately 11% higher than the month of October 2019. December 2019 gold production of 1,774 oz, approximately 17% higher than the month of November 2019. To date the company has generated $12.55 million in cash receipts from the sale of 5,746.74 ounces at an average realised sale price of $2,184.47/oz, since its maiden gold pour in September 2019. In December Beacon commissioned a third leach tank to allow for higher clay/silcrete ratios at lower process pulp densities. Mining activities have also been ramped up using two fleets of gear. The following ore and waste volumes were moved over the last three months: 123,623 BCM for October; 146,073 BCM for November; and 94,105 BCM for December (mining ceased on 20 December 2019 for the Christmas break). It is expected that the increase in mining activities will remain until March 2020 to complete the mining of Panel 1 and the establishment of a new tailings dam. Significant mined ore stocks will be developed as a result of this increase in mining activities. Beacon is continually reviewing operations and making changes to optimise operational costs. To this end, Beacon purchased new equipment to limit hire charges and lower operating costs. The company has commissioned its 500,000 tpa gold processing facility at the Jaurdi Gold Project and has now completed its first full quarter of production. The Jaurdi Gold Project PFS results outline a forecast life of Mine (LoM) surplus operating cashflow of $98.4 million at a gold price of $1,650 per ounce versus today's gold price in excess of AUD 2,240/oz. Beacon confirms that it is not aware of any new information of data that materially affects the information included in its PFS announcement dated 29 August 2018. All material assumptions and technical parameters underpinning the estimates used in the PFS announcement continue to apply and have not materially changed.