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$Monument Mining Ltd. (TSXV:MMY) (MMMTMF) -$21 million CAD of Unrecognized Deferred Tax Assets These have been accrued in previous years but not recognized as an asset convertible to cash because the amount of future taxable profits were unpredictable .
That is now no longer the case, with the resumption of mining by the install of the FP. I don't know if that would be the case in Q4 of F23 but certainly in F24 perhaps Q1.
This is a substantial cash asset worth $0.07 cad per share which will be a huge boost to our balance sheet especially for the accelerated development of our Murchison asset in conjunction with ODY.
Recently, one of my other investments converted about $40 m in such unrecognized deferred tax assets to cash which caused me to investigate MMY deferred tax assets.
Of course beside that we have $40.5 million US = $53 million CAD ( 17 cents cad per share ) in forward tax loss pools to offset future taxable profits..
So, altogether, we have on our asset base $0.24 cad per share tax loss assets that can be converted to cash once profitability returns ....as it almost certainly will. by nozzpack on Sep 08, 2023
Watch $Monument Mining Ltd. More Exposure….Now appearing in The Asian Miner -
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.