https://www.miningweekly.com

Millennium reports solid production in June quarter

23rd July 2014

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – Gold miner Millennium Minerals has reached its production targets for the three months to June, with the company reporting output of 17 789 oz, which was within the guidance of between 16 000 oz and 18 000 oz.

For the six months to June, gold production was recorded at 36 551 oz, which compared with 33 530 oz produced in the previous corresponding period.

Millennium reported that C1 cash costs for the quarter were higher at A$1 303/oz, compared with the A$1 191/oz achieved in the previous quarter, reflecting additional mine material moved during the three months to June, as well as a one-off cost associated with increased haul road maintenance.

For the six months to June, C1 cash costs averaged A$1 120/oz.

Looking ahead, Millennium was expected to deliver some 76 000 oz during the full 2014, at a C1 cash cost of A$1 074/oz, with gold production in the September quarter also expected to be on par with the June quarter.

Meanwhile, gold sales during the quarter under review  generated a revenue of A$27.7-million, with 3 748 oz sold at an average spot price of A$1 381/oz and 14 045 oz sold into the hedge at an average price of A$1 605/oz.

For the six months to June, Millennium sold 36 718 oz of gold to generate a revenue of A$55.3-million.

Edited by Creamer Media Reporter

Comments

Latest News

The QB mine in Chile is ramping up.
Teck increases copper production with QB ramp-up
Updated 1 hour 16 minutes ago By: Mariaan Webb

Showroom

Goodwin Submersible Pumps Africa (Pty) Ltd
Goodwin Submersible Pumps Africa (Pty) Ltd

Goodwin Submersible Pumps Africa is sole distributors for Goodwin electrically driven, submersible, abrasion resistance slurry pumps.

VISIT SHOWROOM 
SMS group
SMS group

At SMS group, we have made it our mission to create a carbon-neutral and sustainable metals industry.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

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?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.192 0.236s - 107pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: