MOY - Millenium Minerals
- Thread starter lucifuge
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Very nice BO yesterday for MOY, up 21% on high volume, looking strong and may well continue it's run.
explod
explod
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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:
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/
"
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$1,370-1,450/oz.
About Bartons:
Bartons is the first underground mine at Nullagine with resources of 750,000t @ 4.1g/t Au for 99,400oz. At the site, all the deeper holes came across the main ore zone, and they continue to define extensions. The 1st phase of the underground drilling has completed targeting deeper extension. The planning of the 2nd phase depth and strike extension is under process."
https://kalkinemedia.com/2019/05/24/millennium-minerals-releases-agm-presentation/
explod
explod
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Well quite a drop in line with the gold correction overnight. I like the reverse hammer on increased volume so suspect we'll be back again soon. For every seller there is a buyer.
explod
explod
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Seems my chart above updates so can refer to that considerable drop.
The support of .055cents was established on high volume back in 2016. There has been no change to the promising ore in hand to be processed. The new plant is finally going and I believe progress will be released soon. Gold in my view has hit a bottom in US$ 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
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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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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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
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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Administrators appointed.
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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.
