New Murchison Gold (ASX:NMG)
Provided an update on production at the Crown Prince Gold Mine.
The operation has had a strong third month of mining and crushing with 67,199 dry tonnes of ore at an agreed grade of 3.69g/t Au sold.
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New Murchison God project location map – Courtesy of New Murchison Gold Ltd.
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| New Murchison Gold | ASX: NMG | |
| Stage | Development | |
| Metals | Gold | |
| Market cap | A$443 million @ A$0.41c | |
| Location | Murchison, Western Australia | |
| Website | www.newmurchgold.com.au |
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NEW MURCHISON GOLD’S CROWN PRINCE CONTINUING TO DELIVER
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New Murchison Gold Limited (ASX:NMG) (NMG or the Company) is pleased to provide an update on production at the Crown Prince Gold Mine (Crown Prince).
The operation has had a strong third month of mining and crushing with 67,199 dry tonnes of ore at an agreed grade of 3.69g/t Au sold to Westgold Resources Limited’s (ASX:WGX, “Westgold”) subsidiary Big Bell Gold Operations Pty Ltd (BBGO) for processing at their Bluebird gold processing facility 36km by road south of Crown Prince.
In accordance with the Ore Purchase Agreement (OPA) between NMG and WGX the agreed monthly recoverable gold ounces in ore sold was 7,630 oz with the related ore sales payment due at the end of December 2025.
The unreconciled production inventory on site at the end of November includes approximately 16,200t (wet tonnes) of Crown Prince crushed ore.
NMG is also pleased to report that the next monthly payment was received from Westgold late in November (for October’s ore sales) totalling $41.6 million (includes GST and is net of trucking costs, BBGO processing costs and BBGO Margin).
Payment terms are further detailed in NMG’s ASX release 24 January 2025.
Future production updates will be provided through Quarterly Reports.
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.Alex Passmore NMG’s CEO commented:
“We are pleased to advise the market of the strong start of the Crown Prince Gold Mine and that the operation has stabilised at production levels in line or better than the
company’s feasibility study estimates.
“Notably this is the second month Westgold has provided us with the opportunity to exceed the OPA monthly cap of 50,000t per month.”
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To read the full news release please click HERE
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Disclosure
At the time of writing the author holds shares in New Murchison Gold.
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