Millennium Minerals has reported production in line with guidance at the Nullagine project in Western Australia, thanks to a ramp up of the Bartons underground mine.
The company poured 34,716 ounces of gold in the first half, meeting its revised guidance of 34,000–36,000 ounces.
Millennium has completed the ramp up of both the Bartons underground and the stage 1A sulphide plant after facing production hurdles.
Chief executive Peter Cash said it was a “challenging first half,” but Millennium was now well positioned to deliver improved production and lower costs for the rest of the year.
“We are now moving into a period where we are very well positioned to take advantage of the current strength in the Australian dollar gold price and better operating margins,” he said.
“With the ramp up of Bartons underground now complete, and with the upgrade sulphide circuit performing in line with expectations, we now have all the required pieces in place to deliver an uplift in production and lower cost profile in the second half.”
The company’s ramp up at Bartons has brought a second stoping level, which gave four stoping areas in the mine and increased produced ounces each week.
Stage 1A commissioning was also in line with schedule, with production duties being shared between the two ultra-fine grind mills as concentrate production ramped up with changes in the mill ore feed sulphide levels.
“We would like to thank our shareholders for their support over the first half of the year while we’ve resolved these delays, particularly our major shareholder IMC Group for their interim funding assistance,” Cash concluded.