"• Millennium’s aggressive exploration program at the NullagineGold Project continues to achieve outstanding results, deliveringan updated Ore Reserve as at 31 December 2018 of 375,300oz 7.1Mt at 1.6g/t Au for 375,300oz of contained gold
• This represents a 70% increase in Ore Reserves since 31December 2017 (221,600oz), net of mining depletion of98,902oz
• Average Ore Reserve grade remains constant at 1.6g/t
• Delivers mine life visibility approaching four years, based onMillennium’s targeted annual production rate of ~100kozpa
• Updated Ore Reserve includes maiden Ore Reserve estimate forGolden Gate Underground of 220.6kt at 3.8g/t Au for 27,100ozof contained gold, underpinned by recent strong metallurgicaltest work results on arsenopyrite-dominant sulphide ore (seeannouncement of 1 February)
• Updated Mineral Resource estimate of 22.9Mt at 1.6g/t Au for1.16Moz, with 0.75Moz, or ~65%, in the higher-confidenceMeasured and Indicated categories• Increase in Mineral Resource grade from 1.5g/t Au to 1.6g/t Au
• Annual production guidance for CY2019 of 90,000-100,000oz atan AISC of $1,300-1,375/oz
• Aggressive exploration programs continuing across theNullagine Project area, with further growth in Ore Reserves andmine life expected as Millennium continues to close-in on its goalof achieving a +5-year mine life"
Increase on track for this little ripper
MOY Price at posting:
22.0¢ Sentiment: Buy Disclosure: Held