New Murchison Gold (ASX:NMG) has lauded a strong start to gold production at its Crown Prince mine, with operations through September delivering as much as 31,000 dry tonnes of ore at a grade of 3.23 grams per tonne gold.
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On the back of the ore’s transportation to nearby Westgold (ASX:WGX) processing facilities, New Murchison is now eyeing first production revenue in October.
“The December quarter will see the first full quarter of production from the operation,” the miner’s CEO, Alex Passmore, pledged to shareholders today.
“Since the commencement of trucking ore to Bluebird, we have ramped up crushing and stockpiling activities and look forward to first revenue from Crown Prince in October… we are expecting a strong start in October,” he added.
The company expects the production inventory built in September to help October’s impending output, with 33,600 wet tonnes of recovered ore already waiting on the run-of-mine pad and awaiting crushing.
Another 11,000 wet tonnes of crushed high-grade material is now waiting for collection; a strong starting point for New Murchison’s trucking and sales program.
It’s been a gold day for the materials company on the ASX in response – to lunch, the miner’s shares have popped +8.7% and are now selling at 3.2c each. Tuesday’s green action brings the gold miner’s YTD returns to +293%.
Even just through this month, NMG has enjoyed a +57% bump.
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