# MOY - Millenium Minerals



## lucifuge (7 May 2008)

Previously named Wedgetail mining, Millenium Minerals has two main focuses; gold and molybdenum. Upon reading reports on operations on their main site;

http://www.millenniumminerals.com.au/operations.html

They have found that the surface geochemistry of the molybdenum project to be above the world class Spinifex Ridge which is a Moly Mines venture. MOL being currently about $3.40,  MOY is approx 7c. There are no doubt significant differences between the companies, but is this one worth considering? Thoughts? I understand molybdenum prices are meant to be on the rise.


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## countryboy (11 May 2008)

Not much info on this stock outside the announcements,,,some research to be done! Has caught my interest because of it neighbour. I really should have studied geology at school as the ann takes three or four reads to get your head around 25% of what they are saying.

To dump (for $5 mill plus) their gold assest  would be a strong indicator they believe they are onto something. Next three months they will do RC drilling and diamond drilling...all we need is a size of the resource a guesstimate will do me?


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## countryboy (11 May 2008)

Great detective work countryboy ...NOT

Found the WTE Wedgetail mining thread, MOYs old name. Lots of disgruntled punters with this stock. A careful look at the directors required and their history. I may hang onto my money ...due dilligence! I think we call it before I invest.


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## bvbfan (11 May 2008)

If they have sold the gold assets, then surely there are better placed Moly companies than MOY.

From what I remember when I looked at WTE a while back, it didn't really stand up.

Better tonnages, amount of contain Mo in other Moly plays surely?


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## AussiePaul72 (13 May 2008)

Well I have been watching this company for quite some time now from when they were Wedgetail (WTE) and now Millenium Minerals (MOY). The Millenium Moly anomaly discovered by the company is already being compared with the World-Class Spinifex Ridge Moly Mines (MOL) deposit which is also located in the same region. 
I believe this stock is a bargain with a fully diluted market cap of only $19 million at present. The tempation was too much today as I don't want to miss the boat on this one and bought in. Its only a matter of time before the market takes note of this one and i will be waiting patiently!!! 
Please DYOR and read up on the potential of MOY before investing


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## desolator (13 May 2008)

LRF (resource fund) have invested in MOY, not sure as to what extent.. but they must see some kind of real potential if thats any assurance to any1..
iduno im a noob!


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## AussiePaul72 (28 May 2008)

Has anybody else noticed how buyers have been steadily building over recent days even though market sentiment has been down. On a poor day today MOY gained 15% and buy:sell ratio is still in the order of 3 fold.
Maybe the market is realising the potential size of the moly resource that MOY might have and with a market cap of under $18 M. Anybody else have any other thoughts?


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## condog (27 January 2010)

Hey PAul are you still in this....Ive been casting an eye over it, but only just discovered it and havent had a decent look yet....seems good value, but io need to dig a bit deeper...


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## AussiePaul72 (27 January 2010)

condog said:


> Hey PAul are you still in this....Ive been casting an eye over it, but only just discovered it and havent had a decent look yet....seems good value, but io need to dig a bit deeper...




Hi Condog ...... nooooo not on this one at present ...... last time i did ok on it though ..... still on my watch list though .... although haven't been watching it real close. They had a big molydenum deposit but seem to have switched focus back onto the gold projects due to better commodity price of gold i guess.


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## shyguy (19 May 2011)

looking quite volatile atm... anyone looking at this?


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## Des P (13 September 2011)

*MOY*

Hi all just would ask some questions about MOY mellinium metals, i see they are are trying to raise another 25 million to build a gold mine (if i am correct) i have looked at there gold grades on web sight looks promising,But at 75,000,000 for the mine to be built from my experience on building gold mine's as a contractor,would mean that the mine will be from an ex plant finished production
Has anybody followed these shares as i am very interested
Des


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## Des P (21 August 2012)

Commissioning stage has started Up 20% today
Could get interseting


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## explod (16 August 2016)

Has been on my watch list for awhile now and took up a position at 12.5 cents.   Now 40.5 cents. 

Jumped over 20% today so thought it was worth running past others.   No debts and good grades about to be produced.   On the way the gold price is heading and investors seeking exposure can only see this continuing its run. 

However volume (some big buys today) would suggest some news coming,  speeding ticket too I'd say.


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## greggles (13 June 2018)

Millenium Minerals has been moving higher over the last few weeks, increasing from 16c to 21c. It appears to have broken through resistance at 20c, so the question is can it consolidate and stay above that level?

Recent drilling results from the Golden Gate Mining Centre at the company's Nullagine Gold Project have been encouraging and follow-up drilling programs aimed at establishing JORC Maiden Mineral Resources are planned.


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## explod (28 June 2018)

greggles said:


> Millenium Minerals has been moving higher over the last few weeks, increasing from 16c to 21c. It appears to have broken through resistance at 20c, so the question is can it consolidate and stay above that level?
> 
> Recent drilling results from the Golden Gate Mining Centre at the company's Nullagine Gold Project have been encouraging and follow-up drilling programs aimed at establishing JORC Maiden Mineral Resources are planned.
> 
> View attachment 87799



Agree Greggles but currently its being affected by lower gold sentiment in my view.  International trade disputes and politics are playing a big role in this.   I'm thinking gold may now be on the oversold side as a result but we'll see.

MOY is a well run producer with no debt so any change in pm's sentiment to the upside will see it rise from here IMHO


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## explod (9 July 2018)

Out of interest just noticed that both the gold price and MOY were at a bottom together on the 3rd and now rising in tandem.  And just look at SBM go.

The way the world financial climate is at the moment I believe gold and gold stocks are well worth putting the ruler over.

But just my view of course so DYOR


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## explod (30 July 2018)

As discussed above, MOY has some rich veins of gold and there are indications that these will extend much more as they progress. 

The company has experienced leadership, no debt and remind me of the position NST were in some years back when their share price was 40 cents, now $7.30  However this is my take so DYOR.

In the meantime the MOY price is fluctuating fairly near to the gold price and the general sentiment towards gold which is very much at the bottom rung atm.

However in the following chart (showing a good picture of the lows over the last 12 months) says to me the bottom is close if not in.   A report due soon on the last quarter for MOY should indicate an increase in production.  A rise in gold (the Aussie gold price is near it's all time high by the way) should see a good increase in this share price.


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## explod (3 August 2018)

Good progress being made by Millenium in line with overall plan and projections.

"31st July 2018 2018 Interim Ore Reserve Statement Millennium delivers 38% interim increase in Ore Reserves at Nullagine to 304,700oz Aggressive exploration commitment and expansion strategy paying strong dividends with upgraded Reserve providing visibility to 3-year mine life  Millennium’s aggressive exploration strategy at the Nullagine Gold Project continues to deliver outstanding results, resulting in an interim increase in Ore Reserves to 304,700oz:  6.0Mt at 1.6g/t Au for 304,700oz of contained gold  This represents a 38% increase in Ore Reserves since 31 December 2017 (221,600oz), net of mining depletion of 38,000oz  Average Ore Reserve grade remains constant at 1.6g/t  Delivers mine life visibility of three years, based on Millennium’s targeted annual production rate of 100kozpa, which is on-track to be achieved in the December 2018 Quarter" 

http://resourcesrisingstars.com.au/sites/default/files/MOY_310718_Ore_Reserve.pdf


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## explod (14 September 2018)

Moy has now achieved its target of 100.000 ounces a year.

http://resourcesrisingstars.com.au/sites/default/files/MOY_110918.pdf

Share price solidifying but not on a lot of radars yet.  The Aussie gold price is not far off highs but we need a US gold price rise for sentiment and gold stock prices to improve IMV.


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## explod (17 September 2018)

Further to my last post MOY has begun to move up and obviously due to its production news last week.

The gold price appears at its longer term bottom and feel investors are starting to feel this also.  I use that word as sentiment has a huge effect on initial market moves.  I'm personally a fundamentalist but the vibe and position of a stock on its chart can be a killer if not followed in my view.

The recent move in MOY:-


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## explod (2 October 2018)

Great news out for MOY today.  Could see the quality of this turn out a few years back on fundamentals, particularly some of the extraordinarily high percentages of gold to the ton in the early surface scratchings.

https://www.miningnews.net/gold-and-silver-news/news/1347793/millennium-reaches-turning-point


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## explod (30 October 2018)

Well the news out in my last post had little effect.  It's clear that market sentiment and an improvement in the gold price is required to stimulate investors.

I'm going to hang in as in my view this is a safe one to hold in these uncertain times.   I'm prepared to wait and believe that when the tables do turn this will race near the top of our ASF competition.

On the chart it is moving roughly with the rise in gold.  I think the fall off in the markets is reflected in the recent drop.  Which tells me that few have any belief or knowledge relating to gold.  Interesting times.


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## explod (30 November 2018)

From Barry Fitzgerald this week:-

"A major new round of resource in-fill drilling and extensional drilling has commenced at Millennium’s Bartons Underground deposit in WA. The drilling will test for extensions to a depth of 200m below the currently-defined mineralisation, with an updated Resource and Reserve estimate expected in early 2019."

https://mail.google.com/mail/ca/u/0/#inbox/FMfcgxvzLrKdVzbwPlHGJlGSlDNltPFC


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## explod (31 December 2018)

In my view I believe MOY has levelled out on fairly solid support.  The gold price is rising, in fact the Aussie gold price is heading close again to it's all time high of $1856, currently about $1820.


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## greggles (29 January 2019)

More high-grade drilling results announced today from the Golden Gate Mining Centre, part of MOY's 100%-owned Nullagine Gold Project. Grades and widths look great, especially from D Reef.






As expected MOY has continued to head north on the news which comes just as gold has broken through US$1,300. 2019 could be a good year for MOY if the gold price remains bullish and drilling results like these keep coming through.

MOY up 10.5% to 21c so far today.


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## Parse (30 January 2019)

Damm... I was thinking of picking MOY for the Feb comp. Not only did they release good results yesterday but again today some drill results from Bartons:

Drilling designed to upgrade the current Mineral Resource and allow conversion to Ore Reserves, with significant assays including:
▪ 3.32m @ 14.09g/t Au from 151.4m including 2.72m @ 16.62g/t Au from 152m (BUDD0001) 
▪ 8.1m @ 5.23g/t Au from 213.9m including 2.4m @ 9.23g/t Au from 216.6m (BUDD0020) 
▪ 8m @ 3.69g/t Au from 95m including 1.15m @ 13.55g/t Au from 100m (BUDD0011A) 
▪ 6m @ 6.71g/t Au from 147m including 5m @ 7.59g/t Au from 147m (BUDD0021) 
▪ 6.6m @ 3.14g/t Au from 111m including 1m @ 10.85g/t Au from 114.4m (BUDD0003) 
▪ 5.3m @ 2.90g/t Au from 115.7m including 1.19m @ 5.62g/t Au from 118.56m (BUDD0005) 
▪ 2.67m @ 4.92g/t Au from 64.73m including 1m @ 6.82g/t Au from 66.4m (BUDD0026) 
▪ 3.2m @ 4.00g/t Au from 143.6m including 0.95m @ 6.45g/t Au from 145.85m (BUDD0032)

The SP will continue to rise I think. MOY will be providing an updated Mineral Resource and Ore Reserve Statement in February.

Ok, think it's still a good pick for Feb.


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## explod (8 February 2019)

With the Aussie gold price heading towards it's all time high the latest news from MOY should finally bring some comfort for holders.

"
* 8th February 2019
 Resources Rising Stars*
Gold miner Millennium Minerals has been on the hunt for gold at its Nullagine site in WA’s Pilbara region (reports_ Stockhead)._

And the company says its “dedicated exploration program” has paid off.

Total ore reserves as at the end of December amounted to 375,300 ounces — a 70 per cent increase from the 2017 total of 221,600.

Millennium (ASX: MOY) says the prospective life-cycle of its Nullagine project has now increased to four years.

That projection is based on extrapolated 2018 production rates of 100,000 ounces (ozpa).

However, “the company’s objective is to further increase its ore reserve base to deliver a plus-five year mine life”, Millennium said.

The latest increase was driven by a new ore reserve totalling 220,000 tones. It’s expected to yield 27 grams per tonne (g/t) for a total of 27,100 ounces.

In addition to some success in its exploratory drilling programs, Millennium says it can also boost ore reserves via the conversion of existing sulphide resources.

The net result is that total production for the 2019 calendar year is now forecast at 90,000-100,000 tonnes, up from 75,000-80,000 last year.

Read more at https://stockhead.com.au/resources/...-more-gold-wants-to-boost-production-by-20pc/"


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## explod (27 February 2019)

A capital raising has caused MOY to stumble on the chart this month.  However when trading began again Monday the volume indicated enthusiasm.   This all began prior to my selection of course but feel as the increased activity at the mine can now be kicked up, and a gold price rise, which I expect soon, (maybe not this month) could see a good chance of a solid rise in the share price.


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## Smurf1976 (28 February 2019)

explod said:


> the increased activity at the mine can now be kicked up, and a gold price rise, which I expect soon, (maybe not this month) could see a good chance of a solid rise in the share price.



That's my thinking although I don't have a specific time frame for it to occur other than saying it should.

I'm holding this stock at present.


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## explod (8 March 2019)

Continues to move forward nicely.

https://resourcesrisingstars.com.au/sites/default/files/MOY_060519.pdf


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## Smurf1976 (8 March 2019)

explod said:


> Continues to move forward nicely.



If only the share price would do likewise.


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## explod (8 March 2019)

Yes, agree Smurf, seems to be a big lack of sentiment, in spite of the rising Aussie gold price.

I believe it will happen when we least expect it.  Remember the early days of NST below $1.00, today hitting $9.00   Moy does not have their extensive resources but on current plans of production in a year or too surely $1.50 to $2 should not be out of the question.


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## explod (29 May 2019)

My computer is in dock atm so cannot transfer a chart.  MOY sufferred a big drop in the last month due to a number of internal issues including the creation of more shares. 

In my view it has been oversold and good production news is due soon too.   Our Aussie dollar is holding and things are looking very tender on Wall Street so a jump up in gold for the new financial year could also push it too.


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## peter2 (29 May 2019)

MOY has certainly been hammered and has under-performed the GOLD ETF for quite some time. MOY hasn't been the only gold producer that has done poorly when compared to the GOLD ETF.






Oversold and perhaps at the bottom? Interesting @explod
In the mean time I'll keep watching Aussie Gold Hunters.


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## explod (29 May 2019)

Thanks very much for the charts Pete


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## explod (24 June 2019)

Jeeeezzzz, returning big time, fundamentals first and sentiment will arrive.


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## Sean K (24 June 2019)

Interesting jump the past week. Just POG? Had a quick look through their last investor presentation and can't see where the major upside is. Where do you think it's from, expod?


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## explod (24 June 2019)

kennas said:


> Interesting jump the past week. Just POG? Had a quick look through their last investor presentation and can't see where the major upside is. Where do you think it's from, expod?



They have been developing a new processing system for the last couple of years and a lot of good ore has been stacked aside to be fed in. And due to Capital raising complications of recent times sentiment among newer players has been the main cause of the recent drop. Both hurdles seem to have been covered but no clear announcement, though due, has yet been made.

I feel the sudden turn up in the gold price has probably stirred old players. Of course the announcement is probably an imminent driver too, lol.


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## explod (26 June 2019)

The sulphide plant now in operation and up jumps the price.   On action the last week there is no doubt we have a leaky ship.   Anyway it's what I've been waiting for.

https://www.asx.com.au/asxpdf/20190626/pdf/4463w6p5ktc11k.pdf


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## explod (3 July 2019)

Good rise today and word is about that the processing is going well and of course the gold price is looking good.

Currently in hospital so cannot put up a chart but the last month has been a very big dip.


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## debtfree (3 July 2019)

Chart of MOY for you @explod 
Wishing you all the best, hope you are back home soon.


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## Trav. (14 August 2019)

Very nice BO yesterday for MOY, up 21% on high volume, looking strong and may well continue it's run.


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## explod (31 August 2019)

MOY has been very subdued of late in spite of the good record rise in the Aussie gold price.   However with the new sulphide processor now in full swing and feeding on a stacked heap of ore put aside for the last couple of years and work now also in progress on the rich veins discovered a few years back I expect a good turn around on it's next report.

"
In its AGM presentation, the company *reported a strong gold production in the East Pilbara region*. The strategy for growth includes as follows:


Growth initiatives with the focus on increasing head grade and recovery efficiency.
At present, the first underground mine at Bartons is ramping up.
Commissioning of low CAPEX/OPEX upgrade to the processing plant is under process in order to enable significant sulphide Resource base processing.
The mine plan for the CY2019 was re-optimized to reflect a delay in completing the forecast production in the first half CY2019 of 34,000-36,000oz was increased to 46,000-54,000oz in the second half of CY2019 along with annual guidance of 80-90koz at AISC of A$1,370-1,450/oz.
The new mining strategy includes the mining of larger scale, longer life open pit deposits with the aim to increase head grade through additional underground development. The development of the Golden Gate mining centre is targeted to start in the later parts of 2019.

*About Bartons*:

Bartons is the first underground mine at Nullagine with resources of 750,000t @ 4.1g/t Au for 99,400oz. At the site, all the deeper holes came across the main ore zone, and they continue to define extensions. The 1st phase of the underground drilling has completed targeting deeper extension. The planning of the 2nd phase depth and strike extension is under process."

https://kalkinemedia.com/2019/05/24/millennium-minerals-releases-agm-presentation/


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## explod (6 September 2019)

Well quite a drop in line with the gold correction overnight.  I like the reverse hammer on increased volume so suspect we'll be back again soon.  For every seller there is a buyer.


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## explod (30 October 2019)

Seems my chart above updates so can refer to that considerable drop.

The support of .055cents was established on high volume back in 2016. There has been no change to the promising ore in hand to be processed. The new plant is finally going and I believe progress will be released soon. Gold in my view has hit a bottom in US$ and the press are just starting to point out that Aussie gold at an all time high. In fact an article today in the Business section of The Age mentioned that whilst discussing the rise in Victorian gold production.

We'll see, lol


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## peter2 (30 October 2019)

I liked the corporate narrative and got thumped buying a falling knife (May19) for my largest loss of the year (so far).  This company continually disappoints. I'll trade it when the chart indicates it's time. That's going to be a long time in the future.


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## Miner (1 November 2019)

Loan extension is so benevolent act when someone pays interest @13.5% under current market.
Surely the company could have done a favour to the shareholders by having a loan a cheaper rate.
https://www.asx.com.au/asxpdf/20191022/pdf/449qnkp479xqzk.pdf


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## peter2 (30 November 2019)

Administrators appointed.


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## System (28 May 2020)

On May 27th, 2020, Millennium Minerals Limited (MOY) was removed from the ASX's Official List at the request of the Company and in accordance with Listing Rule 17.11.


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