Millennium trims production forecast
PERTH (miningweekly.com) – Gold miner Millennium Minerals has downgraded its full-year production guidance from 78 000 oz to 73 000 oz, owing to a later-than-expected start at the Golden Gate deposit, and lower grades at the Golden Eagle deposit, at its Nullagine project.
The miner on Tuesday reported a 5% decline in fine gold production during the third quarter ended September compared with the previous quarter, owing to lower gold grades.
During the quarter under review, Millennium produced 15 650 oz of fine gold, with throughput tonnage reaching 369 244 t at its Nullagine gold project, in Western Australia.
For the year to date, the Nullagine mine delivered 49 180 oz of fine gold.
Gold sales during the quarter reached 16 438 oz, at an average gold price of A$1 542/oz, to generate sales revenue of A$25.4-million.
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