Gold Mining, Gold Investment, Gold Producer, Metal Company, Gold Bullion
Ground Fl, 17 Ord Street West Perth
WA 6005 Australia
PO Box 117 West Perth
WA 6872 Australia
T: +61 (08) 9216 9011
F: +61 (08) 9481 0288
COMPANY OVERVIEW
Millennium Minerals Limited (ASX Code: "MOY") is an emerging metals company focused on the exploration and development of a large tenement portfolio in the East Pilbara region of Western Australia. The high-quality portfolio encompasses a large gold inventory and a secondary molybdenum project.
MISSION STATEMENT
Millennium Minerals Limited's core purpose is to create a profitable mid-tier gold producing company generating value for shareholders whilst continually seeking additional opportunities to increase shareholder value through further development of organic growth opportunities.
GOLD PRICE
An Emerging Metal Company and Gold Producer
Millennium Minerals Limited (ASX Code: "MOY") is an emerging metal company interested in gold mining and gold investment and focused on the exploration and development of a large tenement portfolio in the East Pilbara region of Western Australia. The high-quality portfolio includes gold ore mineral resources of 1.15 million oz. and a secondary molybdenum project.Millennium Minerals Limited's core purpose is to become a profitable mid-tier gold producer generating value for shareholders whilst continually seeking additional opportunities to increase shareholder value through further development of organic growth opportunities in gold investment, gold processing and exploration and other metal company activities.
Gold Mining
As an aspiring gold producer, in late 2009 our metal company updated the 2007 gold mining feasibility study that assessed the viability of developing a gold mining and production operation centred on multiple gold ore bodies contained within its East Pilbara tenement holdings. Although the 2007 gold mining study demonstrated a viable project at the time, the Board of Directors of our metal company deferred the gold investment development given the tough external business environment that existed, having regard for gold bullion prices, skills shortages and the extended delivery periods for supply of capital equipment.The 2009 update brought to account additional resources and reserves, higher gold bullion prices and an absence of the constraints to sourcing skilled people and capital equipment experienced in 2007. Gold investment was suddenly more attractive and we as a metal company were quick to act.
As the economy recovered and gold bullion prices improved in 2009, it became evident that the assets of our gold company had real potential to realise value on our gold investment in the short to medium term. As a result, this metal company focused its efforts as a gold producer on the possible development of the Nullagine Gold Project.
Gold Exploration
An update of the 2006/07 Bankable Feasibility study (BFS) brought into the gold mining plan a number of additional gold ore deposits and extension of the resource envelope not fully tested in the earlier studies. As a result, a nine hole diamond drilling programme was conducted in November 2009 to provide sufficient samples to undertake test work to further refine metallurgical recovery and variability on low grade (0.5 g/t Au to 1.0 g/t Au) and high grade (+1 g/t Au) types. A total of 203 metres of HQ? diamond core was recovered.
CSA Global Pty Ltd (CSA) was commissioned by the company to undertake Mineral Resource estimates for five satellite deposits located adjacent to Golden Gate at the Nullagine Gold Project. The five deposits, Condor, Crow, Falcon, G-Reef and Harrier are located east of the township of Nullagine in the Pilbara region of Western Australia and are collectively termed "Golden Gate Satellites".
The five deposits have a combined Mineral Resource of 459,000 tonnes at 3.1 g/t Au for 45,500 contained ounces based upon a 0.5g/t gold cut off. The Mineral Resource for the Nullagine Gold Project is now estimated at 28.8Mt at 1.24 g/t Au for 1.15M ounces contained.
Millennium MineralsTM business plan is to move to revenue generation with development of the gold investment project, repay any debt promptly and re-invest surplus funds in future dividends, organic and inorganic growth to achieve mid tier status as a gold producer within the Australian resource industry over the next five years.
In addition to our gold mining activities, Millennium will be an active participant in the economic and social wellbeing of the communities in which it operates, at a level appropriate and achievable with each particular operation.
Contact us to learn more about Millennium Minerals and our goals, beliefs and values as a gold producer.
The five deposits have a combined Mineral Resource of 459,000 tonnes at 3.1 g/t Au for 45,500 contained ounces based upon a 0.5g/t gold cut off. The Mineral Resource for the Nullagine Gold Project is now estimated at 28.8Mt at 1.24 g/t Au for 1.15M ounces contained.
Gold Investment
Millennium Minerals is now engaged in raising finance for the development of the gold mine, which is forecast to produce 403,000 oz. of gold bullion over a seven year period. In parallel our young exploration company is continuing with a plan to further its mineral resource and gold reserve development programmes, tapping the significant geological potential that the company has determined exists within its portfolio.Millennium MineralsTM business plan is to move to revenue generation with development of the gold investment project, repay any debt promptly and re-invest surplus funds in future dividends, organic and inorganic growth to achieve mid tier status as a gold producer within the Australian resource industry over the next five years.
The gold producer with a conscience: we invest in more than just gold fields
Millennium Minerals Limited has a policy of promoting mutual understanding and respect with all communities and stakeholders within the areas in which we operate.In addition to our gold mining activities, Millennium will be an active participant in the economic and social wellbeing of the communities in which it operates, at a level appropriate and achievable with each particular operation.
Contact us to learn more about Millennium Minerals and our goals, beliefs and values as a gold producer.
