Millennium exceeds production guidance at Nullagine

Millennium Minerals has beaten its September quarter gold production guidance at the Nullagine gold mine in the East Pilbara of Western Australia.

The company had targeted between 20,000oz-22,000oz for the September quarter, but managed 22,414oz as it ramps up operations at the site.

It produced 10,193oz in the month of September.

The result was a 77 per cent increase on the 12,639oz produced during the June quarter.

Millennium remains well positioned to reach a long-held annualised production rate of 100,000oz per annum with the latest quarterly output.

Its production target for the December quarter is 25,000oz.

Chief executive Peter Cash believes the September quarter is a key turning point in Millennium’s history.

He said achieving the 100,000oz per annum production run rate reflected the success of the company’s strategy of targeting larger, more sustainable ore sources at Nullagine and introducing higher grade ore to the plant.

“Importantly, this is not a one-off but reflects the achievement of a new sustainable long-term production rate driven by the quality of the ore being delivered across all of our mining centres and significant improvements in our mining rate and milling performance,” Cash said.

“We are on track to increase production further to 25,000oz for the December quarter, which should put us on track to achieve the upper end of our guidance of 75,000oz–80,000oz for calendar year 18 and then maintain our trajectory as a +100,000oz per annum producer moving forward into 2019.”

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