$Monument Reports Second Quarter Fiscal 2021 (“Q2 2021”) Results March 1, 2021 View PDF Gross Revenue of $6.84 Million and Cash Cost of US1,103/Oz Vancouver, B.C., March 1, 2021,
Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) “Monument” or the “Company” today announced its second quarter production and financial results for the six months ended December 31, 2020. All amounts are expressed in United States dollars (“US$”) unless otherwise indicated (refer to www.sedar.com for full financial results).
President and CEO Cathy Zhai commented: “During the first six months of fiscal 2021, the Company has completed the economic valuation of each of its wholly-owned projects, closed the Tuckanarra JV Transaction, and streamlined the gold portfolio by entering into the definitive agreement to sell the Mengapur base metal project subsequent to the second quarter.
Upon closing the Mengapur transaction, the Company’s strategy will be to “Unblock the Value” with the proceeds from the transaction available to advance the Company’s gold portfolio in Western Australia and Malaysia, and to support corporate development.”
Second Quarter Highlights:
3,754 ounces (“oz”) of gold sold for $6.84 million (Q2 2020: 4,473oz for $6.61 million);
Average quarterly gold price realized at $1,889/oz (Q2 2020: $1,486/oz);
Cash cost per ounce sold was $1,103/oz (Q2 2020: $903/oz);
Gross margin increased by 5% to $2.69 million (Q2 2020: $2.57 million);
2,963oz of gold produced (Q2 2020: 4,827oz);
All-in sustaining cost (“AISC”) increased to $1,601/oz (Q2 2020: $1,245/oz);
Sold 80% interest in Tuckanarra Project to Odyssey to advance exploration; and
Completed due diligence on the Mengapur Transaction.
$Monument Mining: Gold Focused Producer in Western Australia and Malaysia, Implementing Value Created Strategy •Mar 10, 2021
$Monument’s primary Selinsing Gold Mine in Malaysia and Murchison Gold Project in Western Australia hold total 1.2 million current gold resources of which over 0.5 million are measure and indicated over land tenue of 410 sqkm.
$Selinsing Gold Mine has produced 321,694 ounces for $441.6 million in revenue and cash cost of $520 per ounce in past 10 years through a 1M tpa capacity mill; the mine has another 6 years of life of mine production.
$Murchison Gold Project has over 381,000 ounces of gold resources with a 260,000 tpa mill well maintained and a full functional camp.
A $10 million two-year regional exploration plan is underway to lift gold inventory and potentially establish the Murchison a corner stone project.
Divesting of Mengapur base mental project in Malaysia allows Monument to be re-rated at the rising gold market and fund its value creation growth strategy including potential acquisition of the high quality gold assets.
$Monument Mining has been successfully producing gold in Malaysia for the past 10 years and now has a promising development project in Western Australia.
$MMY Heap Leach Production Potential of Murchison;
It's decent analysis of the heap leaching potential of the lower grade ores at Murchison.
As far as I know, we have the necessary heap leach equipment on hand at $Burnakura for 2 million tons per year.
However, agglomeration seems to be not needed very much for Burnakura ore.
So I use 2 cycles per year Of 500,000 tons of auriferous ore which means 1 million tons per year.
I will use an average of 0.9 gms per ton as head grade of the ore placed on the heap leach pads.
So, that means 900,000 grams of contained gold on the heap leach pads per year.
$Recovery rates is about 90% for this grade of ore, so we end up recovering about 800,000 grams of gold per year, which divided by 31 gms per ounce means an annual production of about 25,000 ounces per year.
This is quite close to the 30,000 ounces recovered/ year by Indee gold
$So, combining 40,000 ounces of high grade production from underground ore through the Burnakura mill @ 300,000 tons per year.....see my previous post..and 25,000 ounces of the lower grades from heap leach, we have about 65,000 ounces of production per year.
Heap leach is cheaper than milling for obvious reasons.
So an AISC of $1000 per ounce for the two combined production methods seems quite reasonable . @$1800 POG, we are excess cash flowing about $50 million per year .
This would imply..but degraded 4,5 times , for lower production ..a fair value of about $225 million for our Murchison production, employing fully our current milling and heap leach facilities .
We have in addition , that rich gold copper resource at the Yagahong deposit of Gabathinia along with its other 6 pits none of which have been fully explored or the possibility of finding supergene ore.
So, our Murchison assets have superb value at current POG.
Its a win win situation By nozzpack
$MMY- $70 mil in assets and only a $42 mil market cap? NO DEBT! :-) )
Way undervalued and oversold - 5 bagger + + + + ? or more - :-)) IMO!
$Monument Mining (TSXV:MMY) Photo Gallery - well they growing with new great discovery of plenty more gold ore to increase the ore reserve with good drilling results to be mined many future years the weather is good no curtain needed - :-))
$1,000th Gold Bar Pour Produced by MMY; Photo Gallery :-)) It's a great Mother ore start;
News Releases Monument Reports First Quarter Fiscal 2021 (“Q1 2021”) Results November 16, 2020 View PDF Gross Revenue of $5.92 Million and Cash Cost of US$923/Oz
Vancouver, B.C., November 16, 2020,
Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) “Monument” or the “Company” today announced its first quarter production and financial results for the three months ended September 30, 2020. All amounts are expressed in United States dollars (“US$”) unless otherwise indicated (refer to www.sedar.com for full financial results).
President and CEO Cathy Zhai commented: “Fiscal 2021 started with new challenging as a global COVID-19 pandemic carried forward from fiscal 2020. The Company has fully resumed its production in the first quarter from eight-week’s mining ban at Selinsing in the first quarter, the Selinsing Sulphide gold plant upgrade is however still pending for financing.
“On the other hand, gold price surged to record high and the gold mining sector was very active in Western Australia, gold mining producers enjoyed high production margins, and investment is flowing into that region for gold explorations.
The Company continues try hard to access to financing, and it is very closely monitoring the market and looking for divesting of base metal portfolio to focus on primary gold assets, as well as new corporate development opportunities to lift up market value for the best interest of its shareholders.”
First Quarter Highlights:
3,504 ounces (“oz”) of gold produced (Q1 2020:
4,852oz) with 3,100oz of gold sold for gross revenue of $5.92 million (Q1 2020: 4,323oz of gold sold for revenue of $6.34 million);
Gross margin of $3.06 million (Q1 2020: $2.65 million);
Average realized price per ounce, excluding prepaid gold sales, of $1,909/oz (Q1 2020: $1,475/oz);
Cash cost per ounce of $923/oz (Q1 2020: $855/oz);
All-in sustaining costs per ounce (“AISC”) of $1,055/oz (Q1 2020: $1,158/oz);
Peranggih grade control drilling after positive trial mining results identified 58,662 tonnes at 0.93g/t Au materials;
Production resumed at Selinsing after lifting eight weeks mining ban in last quarter during COVID-19 pandemic Entering into a Tuckanarra JV arrangement with Odyssey subsequent to the quarter opens corporate development opportunities in WA region.
RE:Substantial Increase in Gold ...Stage 1 open pit Peranghi nozzpack @ sth. wrote:
Based on the 2017 GC drilling program which identified a high grade zone measuring 150 m by 80 m in P North ( see Fig 1 in link below ) management estimated this this GC zone contained 20,000 to 30,000 ounces....see link to 2017 NR below.
The recently completed 5002 m GC drilling of this Zone elicited this statement from management..
The GC delineated indicates;
54.2% higher contained ounces, 63% higher gold grade, and 5.2% less tonnage gold materials to be extracted than the initial assay results from 2017 GC drilling program at the same area.
So in just this small zone, we now have at least 31,000 to 47,000 ounces of even higher grade gold within a lesser volume of ore.
I had earlier missed this implication .
They are now telling us that we have a significant new gold deposit at Peranghi whose size will eventually describe a substantially new oxide resource once P North and the other 3 high grade zones are fully explored.
My earlier analyses of these 4 zones showed in excess of 120,000 ounces.
This discovery completely alters the future perspective for mining at Selinsing.....no rush to fund Biox as we have new and substantial sources of high grade oxides for years to come
xxxxxxxxxxxxxxx
The Peranggih phase 1 GC drill program was completed during Q1 2021 with additional 1,466 meters drilled bringing total drilling to 5,002 meters.
The drill program identified a total of 58,662 tonnes at 0.93g/t Au, which increased the mining inventory.
The GC delineated indicates;
54.2% higher contained ounces, 63% higher gold grade, and 5.2% less tonnage gold materials to be extracted than the initial assay results from 2017 GC drilling program at the same area.
A further GC drill program was planned;
The Peranggih phase 1 GC drill program was completed during Q1 2021 with additional 1,466 meters drilled bringing total drilling to 5,002 meters.
The drill program identified a; total of 58,662 tonnes at 0.93g/t Au, which increased the mining inventory.
The GC delineated indicates; 54.2% higher contained ounces, 63% higher gold grade, and 5.2% less tonnage gold materials to be extracted than the initial assay results from 2017 GC drilling program at the same area.
The recent 2017 close spaced RAB drilling program was carried out at an historic mining site to test 150m strike length x 80m width of the mineralization.
This allowed the accurate identification of several high grade gold (HG) zones surrounded by a main low grade (LG) halo.
The significant drill intersections; (Au >2.0 g/t & >5m length) within a more consistent high grade gold area are presented in Table 1.
The full set of drill results for the holes intercepting this HG gold mineralization occurrence are listed in
Appendix A and Appendix B.
Previous activities plus more recent exploration works, totaling 1,700m for 21 trenches, 2,900m of Diamond Drilling (DD) and Reverse Circulation (RC) drilling for 35 drill holes, and 2,800m of close spaced RAB drilling for approximately 300 drill holes (completed in 2017) have been used to outline an exploration target of 20,000 to 30,000 oz Au contained within 1 to 2 Mt @ 0.3 to 2.0 g/t Au. The potential tonnages and grades are con
Gold & Silver bulls starting to break out > ^ > ^ > ^