Millennium said cash costs reflected previously-announced major investments made to develop larger, longer-term ore sources and included $5.8 million for the Bartons cut-back of $5.8 million as well as infrastructure and expansionary capital of $1.7 million and exploration and evaluation work costing $5.1 million.
Millennium expects to produce 24,000-26,000oz in the December quarter at AISC of $1200-1250/oz, a result which would see it meet 2017 guidance of 75,000-80,000oz at $1360-1390/oz.
Meanwhile the company is set to make decisions on an expansion and underground mining coming months, and is currently utilising four RC rigs and one diamond rig for its exploration efforts at Nullagine.
Millennium’s current ambition is to outline a five year, 100,000oz per annum future at Nullagine.
The debt-free company had cash and bullion of $20 million at the end of September.
Shares in Millennium were up 3% to 17c in early trade, capitalising the company at $133 million.
The stock peaked in 2017 at around 32c in February.
