Millennium increases production at Nullagine
PERTH (miningweekly.com) – Junior gold producer Millennium Minerals has reported a 77% increase in production in the September quarter, compared with the previous quarter, as head grades increased on the back of new ore sources at its Nullagine gold project, in Western Australia.
The ASX-listed company on Tuesday reported that gold production for the September quarter reached 22 412 oz, which was at the upper end of the quarterly guidance of between 20 000 oz and 22 000 oz, and a significant increase on the 12 639 oz produced in the June quarter.
During the month of September, the Nullagine project produced 10 193 oz of gold.
CEO Peter Cash told shareholders that the strong quarterly result showed that the company was continuing to deliver on its strategy of becoming a consistent 100 000 oz/y gold producer.
“The September quarter marked a key turning point in Millennium’s history, with the achievement of a 100 000 oz/y production run-rate reflecting the success of our strategy of targeting larger, more sustainable ore sources at Nullagine and introducing higher-grade ore to the plant.”
The quarterly result was also not a one-off, but reflected a new sustainable long-term production rate, driven by the quality of ore being delivered across all of the company’s mining centers, and significant improvements in Millennium’s mining rate and milling performance, he said.
“We are on track to increase production further to 25 000 oz for the December quarter, which should put us on track to achieve the upper-end of our guidance of between 75 000 oz and 80 000 oz for the 2018 calendar year, and maintain our trajectory as a 100 000 oz/y producer moving forward into 2019.”
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation