Millennium Minerals

Wedgetail Mining Ltd is aiming to become a diversified molybdenum and gold company, by focusing its exploration efforts on the delineation of a molybdenum deposit in the East Pilbara region and changing its name to Millennium Minerals Ltd.

Gold miner Millennium Minerals has received firm commitments for an $8.1 million capital raising to provide a working capital buffer as it ramps up to full production at Nullagine gold project in the Pilbara.

Pilbara gold explorer Millennium Minerals has appointed Heritas Capital Management (Australia) chief portfolio manager John Morton as a non-executive director, following the resignation of Simon Durack from the board.

Pilbara-focused gold miner Millennium Minerals has reported good news in a gloomy industry with a maiden profit of just over $34 million for the first half of calendar 2013.However, it’s frozen salaries and wages across all departments in a bid to keep operating costs at a minimum.

Business News for Western Australia. Tuesday August 6. Jessica Taylor reports. RBA cuts cash rate to record low. Perth house prices fastest rising in Australia. Downer EDI records profit increase and more

Junior resources plays Millennium Minerals and Citation Resources have announced capital raisings worth a collective $12 million.

After a grim six months, Western Australia’s gold mining sector is showing signs of flickering back to life.Having plunged earlier this year to lows around $A1,300 ounce, the gold price has recovered to nearly $A1,550/oz.

Mining and engineering contractors were the biggest losers today when the S&P Dow Jones rebalanced all of its Australian indices, with RCR Tomlinson one of the few to buck the trend.

Shares in West Perth-based gold miner Millennium Minerals have soared after the company reported a maiden net profit following its first year of commercial production.

Gregory Bittar has joined the board of Millennium Minerals as a non-executive director.Mr Bittar is an adviser to IMCGroup, Millennium’s major shareholder, and was a former investment banker at Morgan Stanley.

Helen Garnett and Richard Procter have been appointed non-executive directors of gold explorer ABM Resources.Dr Garnett currently holds directorships at the Australian Centre for Plant Functional Genomics, the Museum and Art Gallery, NT Foundation and Sugar Research Australia.

The latest numbers from Western Australia’s listed gold miners show they remain under pressure from rising costs and a falling global gold price, with some local producers concerned that changes to the state’s royalty system might erode margins beyond break-even.

Perth-based gold miner Millennium Minerals has negotiated $5 million in additional debt funding from its major shareholder IMC Group but the deal is dependent on Millennium's current bankers agreeing to reschedule debt repayments due at the end of this month.

Millennium Minerals has flagged a $76 million impairment on its Nullagine gold operations assets, on the back of a material downgrade in ore reserves.

Shares in local gold miner Millennium Minerals closed 13.7 per cent higher today on news it had increased its projected gold production by 11 per cent while lowering costs.

Millennium Minerals has kicked off a $21 million capital raising to pay off its debt and fund an ‘aggressive’ exploration campaign at its Nullagine gold project in the Pilbara.

Taejin Kim has resigned as a non-executive director of Stargroup. Mr Kim had joined the board of Stargroup in 2015. 

SPECIAL REPORT: Mining stocks are again leading the way in shareholder returns, but this time it’s not the iron ore players doing the business.

Millennium Minerals has boasted better-than-expected gold production at its Nullagine project, with costs in-line with previous targets.

SPECIAL REPORT: A record high Australian dollar price in June has provided a tailwind for the state’s gold sector, and 2017 is looking to be a similarly positive year.

Alex Forcke has resigned as non-executive director of Entek Energy.Malcolm Cowell has been appointed chief financial officer and company secretary of Goldfields Money following the resignation of Michael Verkuylen.

Local gold miner Millennium Minerals has found an internal candidate to replace outgoing chief executive Glenn Dovaston, who has resigned after two years at the helm.

Doray Minerals has appointed current business development manager, Rod Jacobs, as chief operating officer. Mr  Jacobs replaces Peter Bamford who will be retiring after 5 years as general manager, operations.

Junior miner Millennium Minerals could spend up to $46 million upgrading the processing infrastructure at its Nullagine gold operation to achieve a higher quality of output.

Our weekly appointments wrap includes David Gainer, Andrew Hammond, Len Kosova, Phil Thick, Derek Hays, Warren Hallam, Dan Foo, Thomas Currin, Tim Roach, Richard Franklin, Shaun Day, Rowena Roberts, Mark Wilde, Simon Harcombe, Steve Elias, Simon Brown, Bryan Ting and J

Keith Gordon will be stepping down as a nominee director on the board of Ausdrill at the end of the month.

There were 28 insolvency appointments to Western-Australian-incorporated companies in the past fortnight.