Gold production was a record 27,238 ounces, 26% above June, taking output for the nine months to September 30 to 68,959oz.
All-in sustaining costs for the quarter dropped to $A1020 an ounce from $1254/oz.
The strong result recently prompted Millennium to lift full-year guidance to 88,000-93,000oz gold at AISC of $1190-1240/oz from 80,000-83,000oz at AISC of $1200-1250/oz.
Revenue for the quarter jumped 26% to $42.1 million and $105.8 million for the year-to-date, while net cashflow before financing activities was $9.4 million for the quarter and $22.8 million for the first nine months.
Millennium CEO Glenn Dovaston said the company was generating strong results on the mining and processing fronts.
“This is underpinning our production forecasts and enabling us to maximise cashflow and reduce our senior debt rapidly,” he said.
The company paid off $5.1 million during the quarter and expects to be debt-free by the end of March.
Millennium had $5 million cash at the end of the quarter and launched an underwritten $20 million raising this month.
“We will be in a strong financial position with relatively little debt and strong cashflow from existing production at Nullagine,” Dovaston said.
Shares in Millennium were up 1.9% to 5.3c.
