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Millennium Minerals Draws Closer To First Gold Pour From Nullagine

Millennium Minerals (ASX: MOY) remains on track to start first gold pour from its Nullagine Gold Project in Western Australia late this month with the SAG mill now operating in steady state at design capacity.

The SAG mill had started commenced hot commissioning on ore on 15 September with first ore fed into the SAG mill over the weekend and was progressively loaded up with ore and grinding media over the last few days.

Pre-commissioning and dry commissioning has also been completed through the facility due to excellent progress on the final piping, electrical and instrumentation elements of the plant and supporting infrastructure.

Completion of construction has been on time and is forecast to be in line with the A$87 million capital budget.

Millennium has also received final reagent supplies of cyanide, gas and lime.

Nullagine gold production

Production for Nullagine is planned for an average rate of 72,000 ounces of gold per annum at a site cash cost of $756 per ounce.

Project metrics include an internal rate of return of 40% and revenue of $773 million over the 7.5 year mine life.

Nullagine hosts a 1.33 million ounce gold resource contained within seven deposits on granted mining leases.

The largest deposit is Golden Eagle, which contains 62% of the total Resource inventory.

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