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Gold 3,400+
Gold over 3,300....
One day this hidden gem will get discovered, maybe it will take a divvy to get eyes on us.
Thank you Bob.....
Monument Entered Into a Collaboration Agreement, Gives GBR Access to Burnakura Mill
V.MMY - MMTMF | 5 hours ago
VANCOUVER, British Columbia, April 02, 2025 (GLOBE NEWSWIRE) --
Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) (“Monument” or the “Company”) today is
pleased to announce that it has signed a Memorandum of Understanding (“Collaboration Agreement”,
or “MOU”) with Great Boulder Resources (“Great Boulder”, ASX: “GBR”) for collaboration to
potentially process ore from Great Boulder’s Side Well Gold Project through Monument’s Burnakura
Mill at Meekatharra, Western Australia subject to availability.
Post by nozzpack on Apr 02, 2025 11:05am
Tolling agreement will make substantial cash flows
JORC Resource
668koz @ 2.8g/t Au
High Grade 496,000 ox at 5.3 grams .( will high grade)
Burnakura mill at 750,000 tpy
We have 750,000 tons X 5.3 grams x 95% recovery / 31 which is 120,000 ounces per year during an initial 5 year high grading period.
Value at $4400 CAD per ounce = $520 million CAD per year.
Tolling fee is usually 7-10 % of gross to Gold dore bars.
Lets say 7 % which is about $35 million per year in tolling fees for 5 years = $165 million .
Net margin usually about 70 %= about $25 million in free cash flow per year.
can easily pay for upgrade of mill while MMY completes its MRE and FS..
Great Deal..
https://stockhouse.com/news/press-releases/2025/04/02/monument-entered-into-a-collaboration-agreement-gives-gbr-access-to-burnakura ♥️
Gold 3100+
HAPPY ST.PATRICK'S DAY -
One Monument Mining Ltd MMY investor said:
RE:Fundamental Research Report - 11 Mar 25
I do not read this reports, and market ignores them, use common sense and
it will be better, mkt cap should be now 250 M US,
if we compare similar production, AISC at other gold, silver producers,
Trump’s Gold Standard Push: $800 Trillion Global Shift Triggers A US Recession | Rick Rule
Two Dollars Investing
NYBob, Thanks for all you do here.....
RE:Fundamental Research Report - 11 Mar 25
Full report can be seen a link below
https://www.researchfrc.com/content/reports/post/238/robust-q2-mmy-outshines-gold-and-junior-miners
Critical Metal For Bombs & Bullets Explodes Higher In Mega-Squeeze Amid Global Shortage
Tyler Durden's Photo
by Tyler Durden
Friday, Mar 07, 2025 - 12:40 PM
The critical mineral used in many defense and military applications—particularly munitions—is facing a severe global shortage. This crisis threatens supply
chains across the US and Europe at a time when stockpiles of bombs and bullets have been depleted due to prolonged war in Eastern Europe.
Bloomberg reports that antimony prices have jumped nearly fourfold compared to a year ago after Beijing tightened exports last year. This has triggered a
scramble among Western defense firms to secure new supplies of the critical metal, which is essential for bullet cores, explosives, and shrapnel weapons.
https://www.zerohedge.com/commodities/critical-metal-bombs-bullets-erupts-mega-squeeze-amid-global-shortage
RE:Fundamental Research Report - 11 Mar 25
The Price forecast ignores $52 million cad in cash and cash eq which is $0.17 per share and
rapidly increasing nor is Mur hison included..
by nozzpackon Mar. 14
Fundamental Research Report - 11 Mar 25
Monument Mining Limited (TSXV: MMY / FSE: D7Q1) Robust Q2:
MMY Outshines Gold and Junior Miners
Highlights MMY is up 103% YoY, significantly outperforming gold (up 35%), and the VanEck Junior Gold Miners ETF (up 42%),
yet remains deeply undervalued at 1.0x forward EBITDA, compared to the sector average of 5.4x, an 83% discount.
In Q2-FY2025 (ended December 2024), MMY produced 8.6 Koz from its 100% owned Selinsing gold mine in Malaysia, up 26% YoY,
beating our estimate by 4%.
Production growth came from higher grades and recoveries.
While grade volatility is normal for miners, recoveries improved due to plant enhancements and optimization.
As a result, we believe recoveries will likely exceed those of previous quarters going forward.
Gross profit was up 67% YoY, and 4% QoQ, to $1,760/oz.
Revenue was up 2% QoQ, and 80% YoY, beating our estimate by 13%, driven by higher production and gold prices.
Although EBITDA was relatively flat QoQ, EPS improved due to FOREX gains from a stronger US$, exceeding our forecast by 42%.
As of December 2024, MMY had $32M in working capital, with no debt.
The company is planning a resource upgrade drill program this year aimed at potentially converting inferred to M&I resources.
MMY has not engaged in exploration at its Murchison gold project in Australia lately, but management intends to start
with historical resource confirmation drilling, and regional geological analysis.
With gold trading near record highs, we anticipate an increase in M&A activity over the next 12 months,
as larger companies target juniors to grow their portfolios. We are raising our EPS estimates due to higher gold prices,
and stronger-than-expected Q2 production.
Must see...Monument Mining: Strong Share Price Performance after Start of Gold Production in Malaysia
Swiss Resource Capital AG
31.8K subscribers
Fundamental Research Report - 11 Mar 25
Monument Mining Limited (TSXV: MMY / FSE: D7Q1) Robust Q2:
MMY Outshines Gold and Junior Miners
Highlights MMY is up 103% YoY, significantly outperforming gold (up 35%), and the VanEck Junior Gold Miners ETF (up 42%),
yet remains deeply undervalued at 1.0x forward EBITDA, compared to the sector average of 5.4x, an 83% discount.
In Q2-FY2025 (ended December 2024), MMY produced 8.6 Koz from its 100% owned Selinsing gold mine in Malaysia, up 26% YoY,
beating our estimate by 4%.
Production growth came from higher grades and recoveries.
While grade volatility is normal for miners, recoveries improved due to plant enhancements and optimization.
As a result, we believe recoveries will likely exceed those of previous quarters going forward.
Gross profit was up 67% YoY, and 4% QoQ, to $1,760/oz.
Revenue was up 2% QoQ, and 80% YoY, beating our estimate by 13%, driven by higher production and gold prices.
Although EBITDA was relatively flat QoQ, EPS improved due to FOREX gains from a stronger US$, exceeding our forecast by 42%.
As of December 2024, MMY had $32M in working capital, with no debt.
The company is planning a resource upgrade drill program this year aimed at potentially converting inferred to M&I resources.
MMY has not engaged in exploration at its Murchison gold project in Australia lately, but management intends to start
with historical resource confirmation drilling, and regional geological analysis.
With gold trading near record highs, we anticipate an increase in M&A activity over the next 12 months,
as larger companies target juniors to grow their portfolios. We are raising our EPS estimates due to higher gold prices,
and stronger-than-expected Q2 production.
Must see...Monument Mining: Strong Share Price Performance after Start of Gold Production in Malaysia
Swiss Resource Capital AG
31.8K subscribers
Gold over 3,000 this morning..
Monument Mining: Strong Share Price Performance after Start of Gold Production in Malaysia
Swiss Resource Capital AG
31.8K subscribers
Monument Mining: Strong Share Price Performance after Start of Gold Production in Malaysia
Swiss Resource Capital AG
31.8K subscribers
Comment by greyowlon Mar 04, 2025 1:55pm
RE: Is there any production guidance for 2025?
No hint of any production problems going forward given in latest financials.
Only reason this is down is because it had a great run the past few months and
some see it as a good candidate for some wash trading and shakig out weaks hands.
They did .04cents a share profit in Q2 - they got about $2630 for gold in Q2
Gold is now over $2900 - Q3 should come in at 5-6 cents a share profit
With the $32m in cash and no debt this stock should easily be $1 by now.
Your adversary the devil walketh about as a roaring lion.
Just sit tight and hold and add on the dips.
You will thank me later.
message on sth.
TSXV: MMY ... Monument Mining ... a junior Gold producer with measurably improving fundamentals, which is now starting to be reflected in the stock chart .....
* MMY NEWS ARCHIVE .....
https://monumentmining.com/news-media/news/
* MMY INVESTOR PRESENTATIONS .....
https://monumentmining.com/investors/presentation/
The average is 0.11 % .
240,000 tons are milled each quarter which converts to 265 metrics tons of Sb per quarter.
Current Sb price is $35,000 US per metric ton which converts to about $9.3 million US = $12.5 million CAD in Sb by product per quarter . 😊
So, on an annual basis at current Sb Prices, Monument will generate about $50 million CAD in additional revenue. 😊
As there is no significant mining or processing costs of contained by product , this is virtually
all free cash flows to the balance sheet .
Very few Junior gold producers are capable of generating signifucant free cash flows which is why the multiple is above 10 times .
Lets just say just 5 times for MMY ......$250 million in additional market cap value which adds about $0.65/share .
This is quite remarkable .
Assumptions
1...Sb content is sustained
Probably true as the higher grade BR fresh ore which contains highest Sb is just now entering mine
Productiion
2....Sb Prices remain high .....??
3..Monument uses its Tax loss pools to offset income taxes
Regardkess, we are going to do extremely well this quarter ( Q2 ending exit Dec ) as Sb prices have been very high , mining has returned to normal and recoveries are much higher , all of which along with
Sb contribution point towards a blow out quarter , with a substantial addition to our cash reserves .
This is a truly bipolar stock.
From gloom and doom 2 years ago to such bright skies that sunglasses are going to be needed.
Post by nozzpack on Jan 21, 2025 12:23pm
My Earlier Post in Antimony
Thank you C for those Sb content statistics .
My sincere apologies, Cathy..
DECEMBER PRESENTATION AND VIDEO
https://monumentmining.com/site/assets/files/4374/mmy-corporate-presentation-december-2024.pdf
https://www.youtube.com/watch?v=l_MKf3lA37g
BNN ca presentation video for next 2 weeks is online
BNN ca presentation video for next 2 weeks is online
Monument Announces Updates at the Selinsing Gold Mine and Murchison Gold Project
December 9, 2024
https://monumentmining.com/news-media/news/2024/monument-announces-updates-at-the-selinsing-gold-mine-and-murchison-gold-project/
View PDF
Vancouver, B.C., December 9, 2024, Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) (MMTMF) (“Monument” or the “Company”) announces progress updates at the Selinsing Gold Mine in Malaysia and at the Murchison Gold Project in Western Australia.
President and CEO Cathy Zhai commented, “We are pleased with the continued progress at the Selinsing Gold Mine to optimize the gold treatment plant, especially the bigger filter press to be installed to enhance the production respectively in mid-January 2025. Additionally, we are excited to announce the resumption of development work at the Murchison Gold Project.”
Selinsing Update
Figure 1: Selinsing Flotation Plant
The Company continues to improve operational efficiencies and effectiveness at Selinsing Gold Mine through removal of certain bottlenecks from the processing plant and improvements of mining cycle harmonization.
Plant Process Improvements
Numerous improvements were made in the flotation circuit to help improve recovery. The addition of soda ash continued as pH modifier and bulk orders were initiated for delivery to the repurposed lime silo to facilitate better pH control during the processing of partially oxidised transition ore. Measurement and control of the oxidation – reduction potential (ORP) was implemented by the precise dosing of sodium sulphide. Froth stability was improved by the introduction of ethylene glycol frother. Flotation recoveries have improved in October with a reconciled 87.2% reported for the month and over 90% achieved for some of the fresh ores processed. The antimony content of the Buffalo Reef ore has proved to be higher than expected and stibnite recovery has been enhanced by the addition of lead nitrate. Improved payabilities have been realized with the high levels of antimony in the flotation concentrate.
The performance of the filter press improved with better concentrate quality, pH adjustment in the concentrate surge tank and replacement of filter plates. Eight new filter plates from the manufacturers McLanahan were installed on the filter press and the local repair of worn plates continued. Worn-out filter cloths were replaced as required.
A bigger capacity filter press was designed and built by a major manufacturer and was delivered to site, installation has been scheduled and expected to be completed in early January 2025, pending completion of all civil works that commenced in September 2024. Up to date procurement of associated new ancillary equipment is in progress with long lead items being ordered. Concrete was poured for the extension to the air services building, air receivers, filter feed tank and filter press bunker. The air compressor, air receivers and dryer were delivered to site and installed. The filter feed tank was fabricated on site and lifted into position. The powerline and various pipelines were rerouted away from the footprint of the new filter press to allow excavations to be completed and foundation work to progress.
Tailings Storage Facility
A buttress along the toe of the main embankment is required to raise the factor of safety ahead of the next construction raise planned for 2025. The construction was completed using waste material from the Buffalo Reef pits. A bathymetric and drone survey was carried out to determine the in-situ dry density of deposited tailings and to confirm the remaining tailings capacity for the timing of the next raise.
Mining and Ore Stockpile Buildup
Mining continued at Buffalo Reef pits BRC2, BRC3 and BRC4. Deliveries of both fresh and transition ore continued, and the run of mine (ROM) sulphide ore stockpile is around 240,000 tonnes, adequate for 3 months’ plant feed, but not beyond to avoid oxidation.
Figure 2: Mining at Selinsing
The method of reverse circulation grade control (“RCGC”) drilling was tested to a vertical depth of 20 metres over an area within BRC2. The assay results have been compared to the assay results at the same area from the conventional blast hole drilling (“BHGC”) currently in use, which shows that both methods are comparable and RCGC drilling respectably will provide longer term forecasting of concentrate production while also improve the accuracy of the medium-term mine planning as compared to the current resource model.
Exploration drilling activity is planned to commence in January 2025. The program will be announced accordingly and will be focused on upgrading the existing resources under the Buffalo Reef ore body to potentially expand the life of mine. It will also include some step out drill holes to test the mineralization extension that may potentially increase the current resources. The drilling work will be conducted by an in-house drill team with two drilling machines, currently being serviced and equipped with the necessary consumables, accessories, and spares.
Murchison Gold Project Update
The Company has resumed technical and financial studies to research the re-start of operations at its Murchison Gold Project. While the Company’s recent focus has been on optimizing production from its Selinsing Gold Mine, it is also looking to update the Mineral Resource base at its Australian gold assets.
At Burnakura, the Company has previously received all required approvals to recommence production and has been regularly renewing the corresponding environmental compliance permits for the approved plan. However, since that time the gold price has risen considerably, thus a review is needed of the Resources as well as updated capital and production costs on the project to re-optimize future production. Corresponding updates in permitting may be required but would only be amendments to already approved licenses. Due to this fact, Monument has considerable optionality on how to proceed with the re-start.
The Company will be commencing studies into different options to commence production including the current capacity of 260,000 tpa (tonnes per annum) and a potential upgrade to a production rate of 750,000 tpa. Economic viability will be consequent on the updated Mineral Resource Estimates and the optimized production profiles from mining studies across both project areas. Local third parties have also expressed interest in having ore processed in the Burnakura plant. Evaluation of such options may be included in the eventual re-start schedule depending on the capability and capacity of these third parties to commit to a complementary production schedule. Any updates in regulatory permitting and licensing requirements will be honed from the results of optimized mining studies.
At Gabanintha, there are six historical open pits with high grade mineralization open at depth and along strike. To firm up the historical figures and extend the known mineralization, the company plans to systematically drill five of the deposits as well as conduct metallurgical testwork on potential ore-grade material from the deposits to help optimize gold recovery. Several promising exploration targets will also be tested. Drilling will commence as soon as all required permits are received. With 95% of historical drilling on the project only reaching 100m depth and several attractive exploration targets to be examined, there is significant potential for an increased Resource inventory.
The Company has been actively engaging with local and regional stakeholders for the purposes of building productive relationships for the life of the project and to provide beneficial long-term solutions for end of mine life land uses.
About Monument
Monument Mining Limited (TSX-V: MMY, FSE: D7Q1) is an established Canadian gold producer that 100% owns and operates the Selinsing Gold Mine in Malaysia and the Murchison Gold Project in the Murchison area of Western Australia. It has 20% interest in Tuckanarra Gold Project jointly owned with Odyssey Gold Ltd in the same region. The Company employs approximately 250 people in both regions and is committed to the highest standards of environmental management, social responsibility, and health and safety for its employees and neighboring communities.
Cathy Zhai, President and CEO
Monument Mining Limited
Suite 1580 -1100 Melville Street
Vancouver, BC V6E 4A6
FOR FURTHER INFORMATION visit the company web site at
https://www.monumentmining.com
or contact:
Richard Cushing, MMY Vancouver T: +1-604-638-1661 x102 rcushing@monumentmining.com
https://monumentmining.com/investors/presentation/
https://monumentmining.com/news-media/photo-gallery/
“Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.”
Disclaimer Regarding Forward-Looking Statements
This news release includes statements containing forward-looking information about Monument, its business and future plans (“forward-looking statements”). Forward-looking statements are statements that involve expectations, plans, objectives or future events that are not historical facts and include the Company’s plans with respect to its mineral projects, expectations regarding the completion of the ramp-up period to target production level at Selinsing and the timing thereof, expectations regarding the Company’s continuing ability to source explosives from suppliers, expectations regarding completion of the proposed storage shed and ammonium nitrate depot and the timing thereof, and the timing and results of the other proposed programs and events referred to in this news release. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. The forward-looking statements in this news release are subject to various risks, uncertainties and other factors that could cause actual results or achievements to differ materially from those expressed or implied by the forward-looking statements. These risks and certain other factors include, without limitation: risks related to general business, economic, competitive, geopolitical and social uncertainties; uncertainties regarding the results of current exploration activities; uncertainties in the progress and timing of development activities, including those related to the ramp-up process at Selinsing and the completion of the proposed storage shed and ammonium nitrate depot; uncertainties and risks related to the Company’s ability to source explosives from suppliers; foreign operations risks; other risks inherent in the mining industry and other risks described in the management discussion and analysis of the Company and the technical reports on the Company’s projects, all of which are available under the profile of the Company on SEDAR at www.sedar.com. Material factors and assumptions used to develop forward-looking statements in this news release include: expectations regarding the estimated cash cost per ounce of gold production and the estimated cash flows which may be generated from the operations, general economic factors and other factors that may be beyond the control of Monument; assumptions and expectations regarding the results of exploration on the Company’s projects; assumptions regarding the future price of gold of other minerals; the timing and amount of estimated future production; assumptions regarding the timing and results of development activities, including the ramp-up process at Selinsing and the completion of the proposed storage shed and ammonium nitrate depot; expectations that the Company will continue to be able to source explosives from suppliers in a timely manner; costs of future activities; capital and operating expenditures; success of exploration activities; mining or processing issues; exchange rates; and all of the factors and assumptions described in the management discussion and analysis of the Company and the technical reports on the Company’s projects, all of which are available under the profile of the Company on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements, except in accordance with applicable securities laws.
$Monument Mining Ltd > MMTMF - MMY has delivered strong FY2024 results;
MMY has delivered strong FY2024 results
Hey guys!
MMY has delivered strong FY2024 results—record revenue, positive EPS, and production up 335% YoY, surpassing expectations.
Selinsing continues to perform after 14+ years, with management projecting potentially another 14 years of production.
Even with these numbers, MMY is trading at just 1.2x forward EBITDA—an 81% discount to the sector average.
With $21M in working capital, zero debt, and gold prices at record highs, is MMY undervalued compared to its peers?
Read the full report for a deeper dive into MMY’s performance and potential—what are your thoughts on their valuation?:
https://www.researchfrc.com/content/reports/post/152/record-revenue-eps-turns-positive
$Monument Mining Ltd's Joint venture partner $ODY -
$ODY new Corporate Presentation
As usual, very well done.
Market cap of $16 million cad .
Ripe for the picking..
https://api.investi.com.au/api/announcements/ody/243a8e81-d00.pdf
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=175412224
https://monumentmining.com/
Bullish
Bullish
Monument Mining Ltd Joint venture partner ODY -
ODY new Corporate Presentation
As usual, very well done.
Market cap of $16 million cad .
Ripe for the picking..
https://api.investi.com.au/api/announcements/ody/243a8e81-d00.pdf
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=175412224
MONUMENT MINING LTD. - MMY - MMTMF -
$Monument Mining Ltd TSXV : MMY / MMTMF ❤️
October Presentation out -
https://monumentmining.com/site/assets/files/4364/mmy-corporate-presentation-october-2024.pdf
https://monumentmining.com/news-media/photo-gallery/
https://monumentmining.com/
Monument Mining is showing strong performance -
Hey guys! Monument Mining is showing strong performance as gold prices soar,
yet it remains heavily undervalued at just 1.2x forward EBITDA—an 81% discount
to the sector.
In FY2024, MMY posted record revenue, positive EPS, and a 335% YoY production
increase, with reduced cash costs.
With 700K oz still available at the Selinsing mine, analysts see potential for up
to 14 more years of production.
MMY’s strong cash position, no debt, and planned exploration at the Murchison project
only add to the upside.
https://monumentmining.com/news-media/photo-gallery/
https://monumentmining.com/
Read the full report by CFA certified analysts here:
https://www.researchfrc.com/content/reports/post/152/record-revenue-eps-turns-positive?fbclid=IwY2xjawGYqlpleHRuA2FlbQIxMAABHSPgSOfTGQyIKZ78yGMoS3JkhvbXs3_lcq1g9jXnBagOgyc3GpBftPRK-Q_aem_SDhyHioII8GMwDCLHe4oRwhttps://www.researchfrc.com/content/reports/post/152/record-revenue-eps-turns-positive?fbclid=IwY2xjawGYqlpleHRuA2FlbQIxMAABHSPgSOfTGQyIKZ78yGMoS3JkhvbXs3_lcq1g9jXnBagOgyc3GpBftPRK-Q_aem_SDhyHioII8GMwDCLHe4oRw
Monument Considering Monetizing its satellite deposits
Discussion
by nozzpack on Oct 24, 2024
Monument Considering Monetizing its satellite deposits
Not at all surprised by this .Rubber Hill for example has tremendous promise for oxide resources.
Peranghi is yet another.
We have a 1 million ton per year oxide mill which is in care and maintenance .
So, why not invest $5 million to increase our upstream ball mills/ crushing capacity so
that oxide ore mining can resume by reopening the Selinsing mill.
Its nice to see that Dato sees the much larger picture..
https://monumentmining.com/news-media/photo-gallery/
https://monumentmining.com/
Thanks Bob... glta
Very Very Substantial Drilling News from ODY
Remember that these deposits are orogenic in origin...Quartz veins and stockworks ( vein swarms ).
All of the orogenics that I am aware of locally,,.V Lake and Queensway of NFG have gold nodes at
1000 meters or deeper.
Not too far from Turkie is the best known orogenic gold mine.
It took them nearly 75 years but about 8 years ago they discovered the 2 ounce per ton Eagle and
Swan nodes of Fosterville which made many of us rich.....owning Kirkland Lake.
So very high probability is on our side that gold discoveries at Turkie deeps will reach 1000 meters or
more....and this applies to other of our Murchison deposits.
None of these have been drilled deeper than 150 meters .
So , hold tight hand buy on weakness,,
Comment by nozzpackon Oct 24, 2024 4:18pm
9 Views Post# 36280927
Joint Venture Partner Ody
https://stocknessmonster.com/announcements/ody.asx-6A1222188/
Stock Screener: Ep. 431: Monument Mining (MMY.V): Spectacular Grades
Stock Screener: Ep. 431: Monument Mining (MMY.V): Spectacular Grades
Monument Reports Fourth Quarter and Fiscal 2024 Results
September 30 2024 - 11:00AM
https://ih.advfn.com/stock-market/TSXV/MMY/stock-news/94634735/monument-reports-fourth-quarter-and-fiscal-2024-re
Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) “Monument” or the “Company” today announced its annual financial results for the year ended June 30, 2024 (“Fiscal 2024” or “FY 2024”). All amounts are in United States dollars unless otherwise indicated (refer to www.sedar.com for full financial results).
Cathy Zhai, the President and CEO commented, “Fiscal year 2024 was a remarkable year for the Company. The gold production generated $51.42 million gross revenue with net earnings of $6.44 million, or $0.02 per share contrary to net loss of ($6.27) million, or ($0.2) per share last year. $14 million cash flow with $10.86 million on hand and a healthy working capital of $20.55 million has turned around the Company to a much stronger financial position. The operation is sustainable and we are ready to move forward with further corporate development.”
Ms. Zhai further added: “The Company is assessing the potential production restart at the Murchison Gold Project while gold prices are at record high, and capitalizing its effort on resource expansion, market growth and returning to our shareholders.”
Fiscal Year 2024 Highlights:
Heathy cash flow, stable production: a net cash of $14.39 million generated from FY 2024 production compared to $0.12 million in FY 2023, increasing the cash balance to $10.86 million as of FY 2024 from $5.96 million at of FY 2023.
Working capital increased 109% to $20.55 million at the end of FY 2024 from $9.82 million at the end of FY 2023
Net profit positive: $6.44 million for FY 2024, or $0.02 per share, compared to a net loss of $6.27 million for FY 2023, or ($0.02) per share;
Significant increase in gross margin by 14 times: $24.83 million for FY 2024 compared to $1.75 million in FY 2023;
2024 production performance:
31,542 ounces of gold produced (FY 2023: 10,775 ounces);
30,713 ounces of gold sold at a record average realized price of $2,116 per ounce for gross revenue of $51.42 million (FY 2023: 7,060 ounces sold at an average realized price of $1,824 per ounce for gross revenue $12.39 million);
Cash cost per ounce sold of $866 per ounce (FY 2023: $1,507 per ounce);
A decrease of 32% in all in sustaining cost to $1,173/oz in FY 2024 compared to $1,722/oz in FY 2023.
Fourth Quarter Production Highlights:
Gold concentrate production improved during the three months ended June 30, 2024 (“Q4 FY2024”), with a total of 12,003 ounces of gold produced;
10,413 oz gold sold at an average realized price of $2,295/oz for $18.60 million (Q4 FY2023: 1,910 oz gold sold for $3.18 million in total including 1,148 oz at $1,949/oz for $1.74 million from gold concentrate sales and 762 oz at $1,883/oz for $1.44 million from gold bullion sales);
Cash cost per ounce for gold concentrate sold at $842/oz (Q4 FY2023: $917/oz);
AISC decreased to $1,183/oz (Q4 FY2023: $1,567/oz).
Fourth Quarter and Fiscal Year 2024 Production and Financial Highlights
https://ih.advfn.com/stock-market/TSXV/MMY/stock-news/94634735/monument-reports-fourth-quarter-and-fiscal-2024-re
GOD BLESS
Looking good..
AI
