Nullagine to deliver more gold – Millennium
PERTH (miningweekly.com) – Gold miner Millennium Minerals on Wednesday revised both its production guidance and cost guidance for the 2015 full year upwards, on the back of higher production from its Nullagine mine, in Western Australia.
Millennium said full-year production would be between 80 000 oz and 83 000 oz – 11% higher than the previous guidance of 72 000 oz to 75 000 oz.
As a result of improved mill throughput and a number of cost saving measures implemented since the start of the year, Millennium also expected all-in sustaining costs for the year to reduce by around 6%, from the original guidance of A$1 275/oz to A$1 325/oz, to A$1 200/oz to A$1 250/oz.
“We are managing to outperform both within the mining and processing operational areas. This is underpinning our production forecast and enabling us to maximise cash flow and, hence, reduce our senior debt rapidly,” said Millennium CEO Glen Dovaston.
“Our turnaround strategy is working and we are expecting to be well positioned to unlock the potential value of our Nullagine gold project tenements,” he added.
The revised production guidance for the Nullagine project stemmed primarily from a forecast increase in mined ore tonnage, milled head grade and processing plant throughput rates.
In the second quarter ended June, the mine exceeded guidance by some 20%, delivering 21 664 oz of gold.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Multotec, recognised industry leaders in metallurgy and process engineering help mining houses across the world process minerals more efficiently,...
VISIT SHOWROOM
South African leader in Steel -Racking, -Shelving, and -Mezzanine flooring. Universal has innovated an approach which encompasses conceptualising,...
VISIT SHOWROOM
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
