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New Murchison Gold (ASX:NMG) has declared that Crown Prince is “continuing to deliver” as it works towards feasibility, reporting another strong month of production from its flagship gold mine through November.
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In its third month of mining and crushing, New Murchison Gold has delivered 67,199 dry tonnes of ore at an agreed grade of 3.69 grams per tonne gold. The ore has already been sold to Big Bell Gold Operations – owned by Westgold (ASX:WGX) – under an existing purchase agreement for the offtake.
The company has also pointed out its ongoing production “momentum,” especially the unreconciled onsite inventory of 16,200 wet tonnes of crushed ore that was sitting in the Crown Price stores in November.
“We are pleased to advise the market of the strong start of the Crown Prince Gold Mine,” the company’s CEO, Alex Passmore, said in an update today.
“Operations have stabilised at production levels in line with 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.”
That latest payment flagged by Mr Passmore totalled $41.6 million, which included GST and costs related to associated trucking, processing, and work margins.
There was also a reporting change flagged by the company today – while NMG has kept shareholders updated quite regularly through CY25, all future production releases will now be issued via quarterly reports instead.
Crown Prince sits in the producer’s broader Garden Gully Gold Project, a 677km2 tenure in the famed Murchison goldfield. The mine was approved in June; the company started production in September after June’s first blast.
Through then, NMG has gained +355% YTD. Shares are 4.1c each today.
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