https://www.miningweekly.com

Nullagine on track for full-year targets

17th October 2016

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – The Nullagine gold project is on track to deliver its full-year production guidance of between 80 000 oz and 85 000 oz, owner Millennium Minerals reported on Monday.

The project, in Western Australia, delivered 20 018 oz of gold during the three months to September, compared with 22 760 oz in the previous quarter, while all-in sustaining costs increased from A$1 193/oz to A$1 249/oz.

In the year-to-date, the Nullagine project has delivered 65 944 oz of gold.

Millennium reported that the strong production and margins had resulted in the company generating free operating cash flows of $9.4-million for the quarter, allowing Millennium to invest A$4-million in exploration drilling and a further A$2.7-million in expansionary capital.

CEO Glen Dovaston pointed out that no systematic targeted deep drilling programmes had previously been conducted at Nullagine, until the company started the current campaign in July this year.

“While it is still early days in this programme, the results received so far support the company’s view that there is significant potential to grow the gold inventory and mine life through the identification of deeper mineralisation, as well as expanding the known oxide deposits.”

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Craig Miller Technical Services (CMTS)
Craig Miller Technical Services (CMTS)

CMTS is a leading, well-established EC&I contractor with 37+ years of mining and industrial experience. We execute full-scope EC&I projects with...

VISIT SHOWROOM 
ZF Aftermarket
ZF Aftermarket

ZF Aftermarket is the after-sales division of the world-renowned German ZF group, a global leader in mobility technology.

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:0.044 0.878s - 110pq - 2rq
Subscribe Now