https://www.engineeringnews.co.za

Millennium misses full-year targets

Millennium misses full-year targets

Photo by Bloomberg

23rd January 2014

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – Permitting delays and lower gold grades have resulted in gold miner Millennium Minerals missing its production guidance for the full year ended December, the miner said on Thursday.

Full-year output was 63 247 oz, which was just below the guidance of 64 000 oz.

Production for the December quarter reached 14 067 oz as the Golden Eagle deposit delivered lower-than-expected grades and permitting delays affected haulage capacity and treatment at the Golden Gate operation.

Millennium was expecting to produce between 16 000 oz and 18 000 oz  in the quarter ending March, subject to weather events.

Meanwhile, gold sales for the December quarter were 13 240 oz, generating revenue of A$20.7-million.

Millennium this week reported a maiden profit of A$31.8-million for 2013, with revenues of more than A$100.2-million from the sale of 63 446 oz of gold.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Alco-Safe
Alco-Safe

Developed to exceed the latest EN 15964 standards for police breathalysers proving that it will remain accurate and reliable for many years to come.

VISIT SHOWROOM 
Egoli Gas (Pty) Ltd
Egoli Gas (Pty) Ltd

As a reticulator, Egoli Gas provides natural gas to homes and businesses via underground pipes.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.047 1.094s - 140pq - 2rq
Subscribe Now