Monument Reports First Quarter Fiscal 2024 (“Q1 FY2024”) Results November 30, 2023 View PDF Gross Revenue of US$6.91 Million and Cash Cost of US$847/Oz
Vancouver, B.C., November 30, 2023, Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) “Monument” or the “Company” today announced its first quarter of fiscal 2024 production and financial results for the three months ended September 30, 2023. All amounts are expressed in United States dollars (“US$”) unless otherwise indicated (refer to www.sedar.com for full financial results).
President and CEO Cathy Zhai commented, “Q1 FY2024 was a significant quarter for Selinsing Gold Mine as we achieved commercial production of gold concentrate from the sulphide plant, which reached 90% of its design capacity. We also improved our operational efficiency by completing the explosive depot, increasing our mining capacity with more drill rigs and operating hours, and generating cash flow from gold concentrate sales. At Murchison, we initiated a review of the project’s potential cash flow and exploration plans based on previous drill results, while maintaining our plant and facilities for future production, with fully operational site accommodations and catering facilities.”
First Quarter Highlights:
The throughput of the Selinsing sulphide gold treatment plant achieved 90% of design capacity for the 30-day period up to August 16, 2023, thereby achieving the requirement for commercial production. Mining capacity increased with ten grade control drill rigs and additional drillers now on site and expanded drilling hours. Completion of explosive depot construction in July 2023 accommodated shortage of explosive deliveries. Cash flow successfully generated throughout the quarterly gold concentrate sales after the first sale occurring in June 2023. Gold produced from the flotation plant: 7,243 ounces (“oz”) of gold produced (Q1 FY2023: nil ounce); 4,607oz gold sold at average realized price of $1,939 /oz for an estimated $6.91 million (Q1 FY2023: nil); Cash cost per ounce for gold sold at $847/oz (Q1 FY2023: nil); Gross margin at $3.01 million (Q1 FY2023: nil). All-in sustaining cost (“AISC”) decreased to $957/oz (Q1 FY2023: $ 2,677/oz) (section 15 “Non-IFRS Performance Measures”) when transiting to concentrate production from gold billion production. The AUD$1 million contingency was realized from the 2021 Tuckanarra transaction, when a major milestone of resources was delivered by Odyssey. First Quarter Production and Financial Highlights
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$Monument Mining Ltd. TSXV:MMY & MMTMF RE:Gold Price - This may be the time . The USD is now worth just 1 cent of what it was worth in 1971. Gold has been the back up currency for 5000 years and its turn has now arrived . The US economy is already in recession and QE will soon resume.. RE:First Quarter Financials It was released on Nov 29 of 2022. It should be a watershed report as it will identify exactly how far along the new FP is to sustainable gold production at forecast Brest plate capability . 75% would be very favorable .. by nozzpack
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$GOLD BULL CATALYST: Situation Is Dire As Worries Mount Over United States Worries are increasing regarding the United States and this is definitely going to be a positive catalyst for the gold bull market.
Great $GOLD Low Cost Producer - $Monument Mining Ltd (MMY) (MMTMF) It's Finally Happening! Is This What's Happening - With Gold Prices -
$Monument Mining Limited is a Canada-based gold producer - with large great gold mining properties and two gold mills - very undervalued and overdue for share price increase, IMO! The Company is engaged in the operation of gold mines, acquisition, exploration, and development of precious metals with a focus on gold. It owns a 100% interest in the Selinsing Gold Mine and the Murchison Gold Mine Project. The Selinsing Gold Mine is located in Pahang State, within the Central Gold Belt of Western Malaysia, and comprises the Selinsing, Buffalo Reef, Felda Land, Peranggih and Famehub projects. Buffalo Reef lies continuously and contiguously along the gold trend upon which The Selinsing Gold Property is located. Both Felda and Famehub are located east and north of the Selinsing and Buffalo Reef properties. It has a 100% interest in the Murchison Gold Portfolio, which consists of the Burnakura, Gabanintha, and a 20% interest in Tuckanarra gold properties, located in the Murchison Mineral Field. Burnakura and Gabanintha are located southeast of Meekatharra, Western Australia and northeast of Perth, Western Australia.
$Monument Mining - News Releases -
$Monument Reports Fourth Quarter and Fiscal 2023 Results Gross Revenue of US$12.39 Million and Cash Cost of US$917/Oz for Gold Sulphide Production and US$1,622/Oz for Gold Oxide Production
$POG at $2746 CAD Just a tad shy of its all time high. Q1 is in the books and even from concentrate holdings carried over from Q4, it's concentrate revenues in Q1 will exceed anything we have seen in the past 8 years . Totally de risked with NO DEBT and free cash flowing at Selinsing with no value of Murchison in our market cap, this is a steal for the astute buyer
Some facts by deiwel: as i heard new explorations will directly start when sulphide plant run to 100%, all plans are ready and on their opinion they can tripple easy the actually resources without the jv project with ody
A grab sampling program was completed at the Tumblegum historical mining dump in late 2020. The grab samples returned an average grade of 1.79g/t Au. The material could form early low cost ore feed in a mine start up.
Murchison Historical Resources The Murchison portfolio contained historical resources of - 644koz at the time of acquisitions. Monument is systematically performing all the necessary work to convert and validate these historical resources into current resources under NI43-101 guidelines. A breakdown of the historical resources is detailed in the table below
NI 43-101-Indicated Resources 293 koz Au NI 43-101-Inferred Resources 88 koz Au Historical Resources** 644 koz Au
Monument Mining is by far the cheapest gold miner in the list: - 2800 tpd Malaysia plant at 1.9 g/t gold - AISC of $600/ounce - 40K gold production - EV/FCF of 1.5 - 5X leverage to gold price - 10 rigs - 750 tpd Australia plant idled ready to go - 2M ounces of resources+reserves pic.twitter.com/kJ6idoqr2X