Aris has 2 producing gold mines in Colombia and produces 250k ozs of gold annually. The BOD of Aris Mining is comprised of many successful mine builders including Ian Telfer, Neil Woodyer, and Peter Marrone.
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Monument Mining Limited (TSX-V: MMY) (MMTMF) and (FSE: D7Q1) If you detail the actual operating time of the FP plant including massive downtime including the fact that at no time in the past 4-5 months was the plant anywhere near full breast plate capability you will have difficulty arriving at a full month of optimum concentrate production.
Yet we produced over 4000 ounces of concentrate for that reduced month....or most likely over 50,000 ounces pro rated to 12 months.
Recall earlier that , using reported head grades, Mass pull etc, I estimated somewhere in the mid to high 50,000 production range .
So, warts and all, we are where we would have expected us to be at this stage in the commissiing of a new FP plant in the monsoon season..
Monument Mining Ltd " we did very well considering we lost over 2 months of production with breakdowns and faulty filters .
These things are to be expected . It`s still a start up and we will see big improvements .
The mention of the concentrate shed is interesting . They say " it will hold 4500 tonnes or one month`s production " Grade of 36.2 which should improve significantly . And 31 grams in an ounce of gold .
So 4500 x 36.2 , divide by 31 grams per ounce , multiply by 12 months and you get a little over 63K ozs / annum . That`s pretty good considering it will get much better . So , a good report .
Revenue of near $126 million though it could go either way ." by nozzpack
Monument Heads Toward Commercial Production at Selinsing Gold Mine V.MMY | 1 minute ago
VANCOUVER, British Columbia, May 30, 2023 (GLOBE NEWSWIRE) --
Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) ("Monument" or the "Company") is pleased to update the progress at the Selinsing Sulphide Project. The ramp-up of the flotation plant has made great headway, with the mill feed rate of 113 dry tonnes per hour achieved, being 95% of the design capacity of 119 dry tonnes per hour. The plant construction and mine development consumed a total of $18 million, in line with the budget. President and CEO Cathy Zhai commented, “We are very pleased with the flotation plant ramp-up progress as we head towards full commercial production. We have commenced sulphide production in January 2023 and continue testing and adjusting to improve plant performance through the action plan. Despite several incidental plant shutdowns during March to May, the plant is expected to reach its near or full production level by June 2023, within the planned ramp up period of three to six months. To date, the flotation plant has produced approximately 3,450 dry metric tonnes (“DMT”) of concentrate with an average gold grade of 36.20 g/t, containing 4,015 troy ounces of gold. Several export permits have been recently granted by the relevant authority and concentrate shipments are currently in progress.”
The ramp-up of the flotation plant continued, with the mill feed rate of 113 dry tonnes per hour achieved, being 95% of the design capacity of 119 dry tonnes per hour. During this ramp-up process bottlenecks have been identified and the team has been working to correct them in order to ramp up to commercial production. The ramp-up period is expected to be completed in June 2023.
Certain design deficiencies have been detected and revision of designs have been received to improve performance efficiencies including design of a new rougher flotation tailings hopper and associated pipework, structural and civils drawings and specifications for the new concentrate thickener overflow pumps. Pump suction and delivery lines will be upgraded as well as the power supply to the bigger motors required. None of the above works has material impact on our current flotation plant operations.
The flotation plant experienced major shutdowns from early March to first week of May. The Metso-Outotec concentrate thickener rake drive gearbox was broken, replaced by a new gear box assembled in Australia, airfreighted to Malaysia, and installed. The concentrate thickener was then recommissioned, and all concentrates were recovered to the circuit. Further loss of production occurred in April until May as the filter press cloths started failing prematurely due to manufacturing defects; the supplier has accepted the defects and will supply two new sets of higher permeability filter cloths. In the meantime, replacement filter press cloths were sourced and delivered from local suppliers. Management is focused on reviewing all critical parts and in advancing the procurement plan.
Construction of the new concentrate shed continued with the concrete floor poured and the erection of structural steelwork commencing. The shed is expected to be completed by mid-June and will hold enough capacity for over 4,500 tonnes of concentrate or one month’s production.
Construction of the 100-tonne capacity weighbridge was completed, and the unit was calibrated and certified by the Metrology Corporation of Malaysia.
Manufacture of the 1 tonne bulk bagging system has been completed in the UK and is ready to be shipped to Malaysia.
Mining of the first stages of Buffalo Reef pits BRC2 and BRC3 continued, transition sulphide ore was delivered to the ROM pad and oxide ore to stockpiles elsewhere. The stockpile of around one month of process plant feed of 80,000 tonnes was maintained, with mining production over the next six months expected to boost this to at least three months or 240,000 tonnes of ore. The arrival of the new mining fleet will help enhance the mining rates.
Unexpected heavy rain in February 2023 slowed down the mining rates and explosives delivery shortages were experienced from supplier Austin Powders due to their implementation of a stricter explosive trucking policy. The explosive supply situation will be helped by the opening of a new storage facility at Bentong, which is much closer than the current supply from Kuala Lumpur. In addition, a new depot for raw materials including ammonium nitrate is being constructed at the Selinsing mine site. These developments will ensure the availability of explosives in the future by providing alternatives. Construction of this facility is ongoing and scheduled for initial use in June 2023.
Government Permits
Recently, several export permits and transportation permits have been granted to Selinsing which enable Selinsing to initiate the shipment for its first sales.
Around the Hari Raya holiday on April 21st, the new operational mining scheme (OMS) expired on April 16th, 2023 and was renewed on April 20th, 2023. The annual and monthly blasting permits expired along with the OMS and there was insufficient time for the requisite approvals for these permits before the Hari Raya holiday period. The two blasting permits were issued on May 11th, 2023 when mining activities resumed.
Concentrate Sales Preparation
Off take agreements or business confirmation letters for off-take of Selinsing gold concentrate have been signed with several concentrate buyers under competitive commercial terms. Several buyers have received export permits and the shipments are underway. The first 2,000 DMT of gold concentrate production is now available for sale and the royalties for this concentrate have been paid to the parastatal Pahang Mining Corporation.
Risks
The Company closely monitors uncontrollable risk factors with building and operation the flotation plant including: change of market conditions, change of gold prices, operation risks including critical parts shortages which may cause a longer than expected ramp up period, and changes in regulatory restrictions in relation to arsenic level contained in gold concentrate.
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 200 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 www.monumentmining.com or contact:
Richard Cushing, MMY Vancouver T: +1-604-638-1661 x102 rcushing@monumentmining.com
"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."
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GEOENGINEERING WATCH GLOBAL ALERT NEWS, JUNE 24, 2023, #411 ( DANE WIGINGTON ) WATCH
ttps://www.bitchute.com/video/36AuAAaZFoCP/
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Watch Monument Mining Ltd $MMY $MMTMF - Production of 6000 ounces for Q4…this quarter Feed grade is now on target at 1.98 gms per ton.
Selinsing Flotation Plant
Recovery should be around 85% which was achieved on some days in June when forecast grades of newly mined transition and fresh ore were processed.
Flotation recovery has shown a steady improvement in June although an average of 68-per-cent recovery month to date was caused by some poorly performing old transition ore processed at the start of the month.
With two weeks remaining in June as of the operational date of this report, we have an excellent chance to reach 6000 ounces, with 5000 ounces in the bag.
As of this report progress report, it looks like we should hit full stride in early July including much higher recoveries to forecast normal levels ,due to higher feed grades from freshly mined ore.
Is so, we should hit forecast productiin of about 15000+ ounces in Q1 of F24 which begins July 1 of 2023...........4500 tons of concentrate per month @ 1.2 ounces per ton times 3 months = 16200 ounces generating close to $35 million cad in revenues.
Fair value market cap in the $200 million range which is about $0.60 per share which assumes that the 150,000 ounces of Inferred sulphides will be converted to economic ore.....an almost certain bet.
Post by nozzpackon Jun 24, 2023
RE: Monument Begins Gold Concentrate Shipments at Selinsing Gold Mine News..Close to Being Fully Commissioned ..60000 Ounces -
Figure 3: Selinsing Flotation Plant
So, 5000 tons of Concentrate averaging 1.2 ounces per ton = 6000 ounces are now being delivered as part of the offtake agreement ......about $13 milion in USD . 99 % breast plate in June./month
We shall soon be at planned 4500 tons per month containing 1.2 ounces = 5400 ounces===which is over 60,000 ounces per years Monument Mining begins Au concentrate shipments
Figure 2. Concentrate Shipment at Weighbridge
2023-06-23 12:22 ET - News Release
Ms. Cathy Zhai reports
MONUMENT BEGINS GOLD CONCENTRATE SHIPMENTS AT SELINSING GOLD MINE
Monument Mining Ltd. has begun the first gold concentrate shipments and sales from the newly constructed flotation plant at the Selinsing gold mine.
President and chief executive officer Cathy Zhai commented: "This is a momentous occasion for us as we begin to ship and sell gold concentrates from the flotation plant.
The initial offtake of 2,000 dry metric tonnes (DMT) of concentrate from Selinsing marks the beginning of a gold concentrate revenue stream and restores our operating cash flow. We would like to give thanks to our hard-working operation teams, backroom administration support personnel and our business partners to make this happen."
Gold concentrate shipments and sales
Significant interest has been received from potential buyers of the Selinsing gold concentrate. All export and transport permits have been received and the first truckloads of concentrate were shipped from the Selinsing warehouse on June 18, 2023, to Johor Free Trade Zone.
To date 490 DMT of concentrate have been dispatched out of an initial offtake of 2,000 DMT. Weighing, sampling and moisture determination of the delivered concentrate are being conducted at the Johor Free Trade Zone by an appointed internationally recognized survey company.
An additional 3,000 DMT of concentrate are currently available for sale.
The company intends after a trial shipment to gradually increase the number of trucks to speed up the logistic process in selling backlogged product.
In the future concentrates will be shipped to buyers on a routine basis. The backlog was caused by a lengthy initial administrative process for obtaining all relevant permits and organizing logistics. Over the past six months, the company has built a logistic team and sales chain at the Selinsing project.
Commercial production update
The flotation plant operation is improving with up to 99 per cent of design capacity achieved during June, 2023, and overall 83-per-cent capacity achieved for the 30-day period up to June 17, 2023.
Torn filter cloths remained an issue with new cloths still awaited from the filter press supplier McLanahan. New HDPE (high-density polyethylene) pipework was received to upgrade the concentrate thickener underflow pipeline. A similar upgrade was planned for the flotation cleaner concentrate pipeline which emerged as a bottleneck with increasing flotation mass pull.
Flotation recovery has shown a steady improvement as increasing proportions of newly mined transition and fresh ore were processed. Daily recoveries in excess of 80 per cent have been recorded during June, 2023, although an average of 68-per-cent recovery month to date was caused by some poorly performing old transition ore processed at the start of the month.
Construction of the concentrate shed continued with the main roof completed and the perimeter concrete wall approximately 50 per cent done. Work continued extending the lean-to roof to the filter press building. The bagging system has been prepared for shipping to Malaysia.
Mining update
Mining of Buffalo Reef stage 1 BRC2 and BRC3 pits continued with both transition and fresh ore delivered to the ROM pad and maintained around one month supply of ore feed to the flotation processing plant. A new drill rig was delivered in June, 2023, with nine grade control drilling rigs now operational; a 10th unit is scheduled for delivery in August, 2023. The mining operation is aiming to achieve and maintain a three-month supply of ore at the ROM.
Construction of the explosive's depot progressed well with delivery of the bulk emulsion gassing container and the connection to mains power completed. This is to remove dependency on explosives delivery from the sole dominant supplier in the country due to its shortfall of trucks over the past several months. The isotainer storage tanks are due for delivery in late June, 2023, and the explosives depot will be commissioned in early July, 2023.
Work started on the conversion of the old core shed to an expanded sample preparation facility capable of processing up to 700 grade control samples per day, which will remove another major bottleneck in the mining cycle.
Risks
Other operation risks in related to mining and processing processes are under continuous evaluation to improve the performance. by nozzpackon Jun 23, 2023
Monument Begins Gold Concentrate Shipments at Selinsing Gold Mine June 23, 2023
Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) (“Monument” or the “Company”) is pleased to announce the first gold concentrate shipments and sales from the newly constructed flotation plant at the Selinsing Gold Mine.
President and CEO Cathy Zhai commented, “This is a momentous occasion for us as we begin to ship and sell gold concentrates from the flotation plant. The initial offtake of 2,000 dry metric tonnes (“DMT”) of concentrate from Selinsing marks the beginning of a gold concentrate revenue stream and restores our operating cash flow. We would like to give thanks to our hard-working operation teams, backroom administration support personnel and our business partners to make this happen.”
Figure 1. Loading Concentrate for Transport
Figure 2. Concentrate Shipment at Weighbridge
Gold Concentrate Shipments and Sales
Significant interest has been received from potential buyers of the Selinsing gold concentrate. All export and transport permits have been received and the first truckloads of concentrate were shipped from the Selinsing warehouse on June 18th, 2023 to Johor Free Trade Zone. To date 490 DMT of concentrate have been dispatched out of an initial offtake of 2,000 DMT. Weighing, sampling and moisture determination of the delivered concentrate is being conducted at the Johor Free Trade Zone by an appointed internationally recognized survey company.
An additional 3,000 DMT of concentrate is currently available for sale. The Company intends after a trial shipment to gradually increase the number of trucks to speed up the logistic process in selling backlogged product. In the future concentrates will be shipped to buyers on a routine basis. The backlog was caused by a lengthy initial administrative process for obtaining all relevant permits and organizing logistics. Over the last six months, the Company has built a logistic team and sales chain at the Selinsing Project.
Commercial Production Update
The flotation plant operation is improving with up to 99% of design capacity achieved during June 2023, and overall 83% capacity achieved for the 30 day period up to June 17th 2023. Torn filter cloths remained an issue with new cloths still awaited from the filter press supplier McLanahan. New HDPE pipework was received to upgrade the concentrate thickener underflow pipeline. A similar upgrade was planned for the flotation cleaner concentrate pipeline which emerged as a bottleneck with increasing flotation mass pull.
Figure 3: Selinsing Flotation Plant
Flotation recovery has shown a steady improvement as increasing proportions of newly mined transition and fresh ore were processed. Daily recoveries in excess of 80% have been recorded during June 2023, although an average of 68% recovery month to date was caused by some poorly performing old transition ore processed at the start of the month.
Construction of the concentrate shed continued with the main roof completed and the perimeter concrete wall approximately 50% done. Work continued extending the lean-to roof to the filter press building. The bagging system has been prepared for shipping to Malaysia.
Mining Update
Mining of Buffalo Reef Stage 1 BRC2 and BRC3 pits continued with both transition and fresh ore delivered to the ROM pad and maintained around one month’s supply of ore feed to the flotation processing plant. A new drill rig was delivered in June 2023 with nine grade control drilling rigs now operational; a tenth unit is scheduled for delivery in August 2023. The mining operation is aiming to achieve and maintain a three-month supply of ore at the ROM.
Construction of the explosive’s depot progressed well with delivery of the bulk emulsion gassing container and the connection to mains power completed. This is to remove dependency on explosives delivery from the sole dominant supplier in the country due to their shortfall of trucks over the past several months. The isotainer storage tanks are due for delivery in late June 2023 and the explosives depot will be commissioned in early July 2023.
Work started on the conversion of the old core shed to an expanded sample preparation facility capable of processing up to 700 grade control samples per day, which will remove another major bottleneck in the mining cycle.
Risks
Other operation risks in related to mining and processing processes are under continuous evaluation to improve the performance.
The Company closely monitors uncontrollable risk factors with building and operation of the flotation plant including but not limited to: change of market conditions, change of gold prices, operation risks including critical parts shortages which may cause a longer than expected ramp up period, and changes in regulatory restrictions in relation to arsenic level contained in gold concentrate.
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 200 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
Richard Cushing, MMY Vancouver T: +1-604-638-1661 x102 rcushing@monumentmining.com
New development to increase production from our Floatation Plant ....
With respect to the construction of the Biox Plant and in order to reduce the initial capital investment, the Company now plans to develop the Selinsing Sulphide Project through a two stage de-risking process:
....Stage 1 construction of a flotation plant that was originally designed to deliver sulphide gold concentrates as a semi product for further BIOX® leaching process.
.....Under the new approach, the flotation plant will be modified to produce higher grade saleable gold concentrates, the cash generated from which may be used to fund upgrading of the BIOX® leaching plant.
This is an excellent move to modify the FP to produce a higher grade gold concentrate . This will maximize and front load our profitability, both from increased production volumes and higher grade concentrate relative to head grade ( ie higher recovery rates ).
In other words, Mass pull will be enhanced which will result in a concentrate weighing less but containing more gold.
I would say that Dato is once again exercising his substantial background in mining experience around the world and introducing those efficiency activities to make Selinsing as profitable as possible .
We are in good hands,,
There is a lot going on on the Monument Mining website very interesting explanation nozzpack thanks
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One BUY rating but note also that we are up 57% YTD which has got to be one of the best performers among microcap Juniors.....leaves little doubt that we are on our way , with short consolidations, for the next run up the charts , hopefully to $0.20 by late summer
Burnakura mill being open to toll milling while we wait for ODY.
Depending on the grade, about 25,000 to 30,000 ounces which should bring in about $5 million cad per annum and at the same time keeping the mill and camp in full operating mode.
There are several neighbours that might avail of such a service..
The plant is done with the third phase crusher now installed...
Monument Mining Limited (MMY : MMTMF) is a Canada-based gold producer and mining asset developer.
The Company owns and operates the Selinsing Gold Portfolio in Malaysia and the Murchison Gold Portfolio in Western Australia.
The Selinsing Gold Mine is located in Pahang State, within the Central Gold Belt of Western Malaysia, comprising the Selinsing, Buffalo Reef, Felda Land, Peranggih and Famehub projects . The mine has about one million ton per annum gold processing CIL plant, which is situated approximately 158 kilometers (km) north of Kuala Lumpur. Murchison is located in the Murchison region in Western Australia and comprises the Burnakura, Tuckanarra, and Gabanintha projects, which are located in the Murchison goldfield of Western Australia, approximately 40 km southeast of Meekatharra and 765 km northeast of Perth.
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