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  • Millennium Minerals Appoints Richard Procter As New Chairman 0 comments
    Apr 22, 2014 9:39 PM

    Millennium Minerals' (ASX: MOY) has appointed Richard Procter as its new chairman, replacing Peter Rowe who will step down at the company's Annual General Meeting on 28 April.

    Procter, a non-executive director of the company, has over 35 years' experience both at the senior management and executive level.

    This includes exploration, project development, operations, contracting, consulting (mergers & acquisitions and corporate development) and funds management.

    Rowe is due to retire at the AGM and will no longer stand for re-election.

    He had served as the company's chairman from mid-2009 and has guided it through the financing, construction and start‐up of the Nullagine Gold Project in Western Australia.

    Millennium has recently completed and executed a variation to its Project Finance Facilities for Nullagine, extending the facility by 9 months to 30 June 2016 with repayments rescheduled to better match the company's gold production profile.

    The Nullagine Gold Project had recorded record production of 18,762 ounces for the March 2014 quarter, up 33% from the last quarter.

    This was due to higher throughput and receiving semi-continuous ore haulage from the higher grade ABC and D Reef deposits at Golden Gate.

    Nullagine currently has a mining inventory of 481,000 ounces of gold - including an Ore Reserve of 465,000 contained ounces.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

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