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Millennium Minerals Is On Track And Within Budget For First Gold Pour In 2012

Millennium Minerals (ASX: MOY) is well on the road to production at the Nullagine Gold Project, with commissioning scheduled to start in the September quarter this year, and production expected the following quarter.

The company recently boosted Reserves at the Nullagine project, in Western Australia, by 31% to 741,000 ounces of gold.

Nullagine also hosts JORC Resources of 34.68 million tonnes at 1.19 grams per tonne gold for 1.33 million ounces of gold, of which 62% is contained within the Golden Eagle deposit.

At the end of January 2012, construction of the gold processing plant and associated infrastructure remained on schedule and within budget.

Additionally, 99% of mechanical equipment has been procured, with all remaining mechanical and electrical equipment to be procured or placed into the piping/erection and electrical supply and installation contracts by the end of February.

Award of the piping and electrical contracts are out for tender and will be awarded early in March.

Steelwork and plate-work fabrication is underway under the existing engineering, procurement and construction management contract awarded to Mintrex BEC.

Meanwhile, final installation and equipping of the water supply bore field will be completed next month.