Monument Mining Ltd (MMY)

[Freddy1989]

President and CEO Cathy Zhai commented, "Q3 FY2024 was a significant quarter at the Selinsing Gold Mine with stabilization of production at the sulphide gold processing plant. The Company focused on the improvement of flotation plant performance at the Selinsing Gold Mine to increase cash flow generation. The cash generation provides a foundation for future exploration, development and corporate growth. In addition, an assessment of a potential production restart at the Murchison Gold Project continues to progress.”

Positive cashflow from gold concentrate production of $6.20 million during Q3 2024, compared to $1.35 million in Q3 2023 when gold bullion transitioned to gold concentrate production.

As part of the ongoing plant optimization, a new rougher tailings hopper was installed, along with the rougher tailings pumps upgraded with new motors and power supply. A bigger rougher concentrate launder was also installed to replace the original undersized unit and solve excessive spillage issues. Further upgrades to the filter press have been planned and are expected to be completed in October of 2024.

On August 3, 2023, the Company was notified by Odyssey Gold Ltd. that a major milestone of resources had been achieved at the Tuckanarra Joint Venture Project.