Millennium set for better future

13th October 2017
Resources Rising Stars

Nullagine gold miner Millennium Minerals says it’s on track to meet guidance in 2017 after a big capital spend in the September quarter saw 16,007 ounces produced at all-in sustaining costs of A$1470 per ounce, MiningNews reports.

Millennium said cash costs reflected previously-announced major investments made to develop larger, longer-term ore sources and included $5.8 million for the Bartons cut-back of $5.8 million as well as infrastructure and expansionary capital of $1.7 million and exploration and evaluation work costing $5.1 million.

Millennium expects to produce 24,000-26,000oz in the December quarter at AISC of $1200-1250/oz, a result which would see it meet 2017 guidance of 75,000-80,000oz at $1360-1390/oz.

Meanwhile the company is set to make decisions on an expansion and underground mining coming months, and is currently utilising four RC rigs and one diamond rig for its exploration efforts at Nullagine.

Read more at http://www.miningnews.net/operations/production/millennium-set-for-better-future

 

Image by Tony McDonough via MiningNews.net

 

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