Nullagine production increases in June quarter
PERTH (miningweekly.com) – Gold miner Millennium Minerals has reported an increase in gold production during the three months to June, compared with the previous quarter, from its Nullagine operation in Western Australia.
During the June quarter, the ASX-listed company produced 18 983 oz of gold, compared with the 16 543 oz of gold delivered in the March quarter.
Millennium said that production during the month of June was particularly strong, with some 8 400 oz of gold produced.
“The outstanding production performance for June is a real credit to the operational team at Nullagine after several interruptions during the first half of 2017 due to the impact of heavy rains earlier this year,” said Millennium CEO Peter Cash.
“Importantly, the company has been able to maintain its strong cash position despite these operational interruptions while at the same time continuing our significant investment in future-proofing the company through our commitment to our A$20-million exploration strategy and expansionary studies, including a sizeable expansion of the accommodation village to cater for our longer-term needs.”
Cash said that these investments reflected Millennium’s confidence in the long-term future of the Nullagine project as the company prepared for the next step-change in its growth profile with the completion of expansion studies aimed at unlocking the large inventory of primary ores later this quarter.
“This, together with ongoing results from exploration and updated production guidance to be released means that Millennium is about to embark on a period of considerable activity and news-flow on several fronts.”
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