Mining company Millennium Minerals Limited (ASX:MOY) has announced its gold production guidance for the 2018 calendar year of 75 to 80 thousand ounces (Koz), that’s a rise from about 73 thousand last year.
The company says gold production for the rest of this year is expected to be sourced primarily be re-opening Millenium’s largest deposit the Golden Eagle Mining Centre.
2018 production is expected to be weight towards the March and December quarters, with increased production costs in quarters 2 and 3, as the company transitions to more sustainable ore sources at Nullagine.
Millenium says the new mining schedule for 2018 provides the company with a blueprint towards a 100 thousand ounce per annum at Nullagine by the years end.
Shares in Millenium Minerals (ASX:MOY) closed 2.44 per cent higher to $0.21 yesterday.