Millennium Minerals (ASX: MOY) will be pouring its first gold bar in weeks from the Nullagine Gold Project in Western Australia, which hosts a resource of 1.33 million gold ounces contained within 7 deposits on granted mining leases, with the largest being Golden Eagle - which contains around 62% of the total metal inventory.
Commercial gold production is due in the December 2012 quarter, with the average gold output planned at 72,000 ounces per annum at a site cash cost of $756 per ounce.
Proactive Investors could see Millennium increasing production to 100,000 ounces per annum from all deposits based on studies underway. The forecast EBITDA is $773 million and a project IRR of 40%.
MOY Price at posting:
55.0¢ Sentiment: None Disclosure: Not Held
