NYBob
4 weeks ago
Monument Announces Updates at the Selinsing Gold Mine and Murchison Gold Project
December 9, 2024
https://monumentmining.com/news-media/news/2024/monument-announces-updates-at-the-selinsing-gold-mine-and-murchison-gold-project/
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Vancouver, B.C., December 9, 2024, Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) (MMTMF) (“Monument” or the “Company”) announces progress updates at the Selinsing Gold Mine in Malaysia and at the Murchison Gold Project in Western Australia.
President and CEO Cathy Zhai commented, “We are pleased with the continued progress at the Selinsing Gold Mine to optimize the gold treatment plant, especially the bigger filter press to be installed to enhance the production respectively in mid-January 2025. Additionally, we are excited to announce the resumption of development work at the Murchison Gold Project.”
Selinsing Update
Figure 1: Selinsing Flotation Plant
The Company continues to improve operational efficiencies and effectiveness at Selinsing Gold Mine through removal of certain bottlenecks from the processing plant and improvements of mining cycle harmonization.
Plant Process Improvements
Numerous improvements were made in the flotation circuit to help improve recovery. The addition of soda ash continued as pH modifier and bulk orders were initiated for delivery to the repurposed lime silo to facilitate better pH control during the processing of partially oxidised transition ore. Measurement and control of the oxidation – reduction potential (ORP) was implemented by the precise dosing of sodium sulphide. Froth stability was improved by the introduction of ethylene glycol frother. Flotation recoveries have improved in October with a reconciled 87.2% reported for the month and over 90% achieved for some of the fresh ores processed. The antimony content of the Buffalo Reef ore has proved to be higher than expected and stibnite recovery has been enhanced by the addition of lead nitrate. Improved payabilities have been realized with the high levels of antimony in the flotation concentrate.
The performance of the filter press improved with better concentrate quality, pH adjustment in the concentrate surge tank and replacement of filter plates. Eight new filter plates from the manufacturers McLanahan were installed on the filter press and the local repair of worn plates continued. Worn-out filter cloths were replaced as required.
A bigger capacity filter press was designed and built by a major manufacturer and was delivered to site, installation has been scheduled and expected to be completed in early January 2025, pending completion of all civil works that commenced in September 2024. Up to date procurement of associated new ancillary equipment is in progress with long lead items being ordered. Concrete was poured for the extension to the air services building, air receivers, filter feed tank and filter press bunker. The air compressor, air receivers and dryer were delivered to site and installed. The filter feed tank was fabricated on site and lifted into position. The powerline and various pipelines were rerouted away from the footprint of the new filter press to allow excavations to be completed and foundation work to progress.
Tailings Storage Facility
A buttress along the toe of the main embankment is required to raise the factor of safety ahead of the next construction raise planned for 2025. The construction was completed using waste material from the Buffalo Reef pits. A bathymetric and drone survey was carried out to determine the in-situ dry density of deposited tailings and to confirm the remaining tailings capacity for the timing of the next raise.
Mining and Ore Stockpile Buildup
Mining continued at Buffalo Reef pits BRC2, BRC3 and BRC4. Deliveries of both fresh and transition ore continued, and the run of mine (ROM) sulphide ore stockpile is around 240,000 tonnes, adequate for 3 months’ plant feed, but not beyond to avoid oxidation.
Figure 2: Mining at Selinsing
The method of reverse circulation grade control (“RCGC”) drilling was tested to a vertical depth of 20 metres over an area within BRC2. The assay results have been compared to the assay results at the same area from the conventional blast hole drilling (“BHGC”) currently in use, which shows that both methods are comparable and RCGC drilling respectably will provide longer term forecasting of concentrate production while also improve the accuracy of the medium-term mine planning as compared to the current resource model.
Exploration drilling activity is planned to commence in January 2025. The program will be announced accordingly and will be focused on upgrading the existing resources under the Buffalo Reef ore body to potentially expand the life of mine. It will also include some step out drill holes to test the mineralization extension that may potentially increase the current resources. The drilling work will be conducted by an in-house drill team with two drilling machines, currently being serviced and equipped with the necessary consumables, accessories, and spares.
Murchison Gold Project Update
The Company has resumed technical and financial studies to research the re-start of operations at its Murchison Gold Project. While the Company’s recent focus has been on optimizing production from its Selinsing Gold Mine, it is also looking to update the Mineral Resource base at its Australian gold assets.
At Burnakura, the Company has previously received all required approvals to recommence production and has been regularly renewing the corresponding environmental compliance permits for the approved plan. However, since that time the gold price has risen considerably, thus a review is needed of the Resources as well as updated capital and production costs on the project to re-optimize future production. Corresponding updates in permitting may be required but would only be amendments to already approved licenses. Due to this fact, Monument has considerable optionality on how to proceed with the re-start.
The Company will be commencing studies into different options to commence production including the current capacity of 260,000 tpa (tonnes per annum) and a potential upgrade to a production rate of 750,000 tpa. Economic viability will be consequent on the updated Mineral Resource Estimates and the optimized production profiles from mining studies across both project areas. Local third parties have also expressed interest in having ore processed in the Burnakura plant. Evaluation of such options may be included in the eventual re-start schedule depending on the capability and capacity of these third parties to commit to a complementary production schedule. Any updates in regulatory permitting and licensing requirements will be honed from the results of optimized mining studies.
At Gabanintha, there are six historical open pits with high grade mineralization open at depth and along strike. To firm up the historical figures and extend the known mineralization, the company plans to systematically drill five of the deposits as well as conduct metallurgical testwork on potential ore-grade material from the deposits to help optimize gold recovery. Several promising exploration targets will also be tested. Drilling will commence as soon as all required permits are received. With 95% of historical drilling on the project only reaching 100m depth and several attractive exploration targets to be examined, there is significant potential for an increased Resource inventory.
The Company has been actively engaging with local and regional stakeholders for the purposes of building productive relationships for the life of the project and to provide beneficial long-term solutions for end of mine life land uses.
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 250 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
https://www.monumentmining.com
or contact:
Richard Cushing, MMY Vancouver T: +1-604-638-1661 x102 rcushing@monumentmining.com
https://monumentmining.com/investors/presentation/
https://monumentmining.com/news-media/photo-gallery/
“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.”
Disclaimer Regarding Forward-Looking Statements
This news release includes statements containing forward-looking information about Monument, its business and future plans (“forward-looking statements”). Forward-looking statements are statements that involve expectations, plans, objectives or future events that are not historical facts and include the Company’s plans with respect to its mineral projects, expectations regarding the completion of the ramp-up period to target production level at Selinsing and the timing thereof, expectations regarding the Company’s continuing ability to source explosives from suppliers, expectations regarding completion of the proposed storage shed and ammonium nitrate depot and the timing thereof, and the timing and results of the other proposed programs and events referred to in this news release. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. The forward-looking statements in this news release are subject to various risks, uncertainties and other factors that could cause actual results or achievements to differ materially from those expressed or implied by the forward-looking statements. These risks and certain other factors include, without limitation: risks related to general business, economic, competitive, geopolitical and social uncertainties; uncertainties regarding the results of current exploration activities; uncertainties in the progress and timing of development activities, including those related to the ramp-up process at Selinsing and the completion of the proposed storage shed and ammonium nitrate depot; uncertainties and risks related to the Company’s ability to source explosives from suppliers; foreign operations risks; other risks inherent in the mining industry and other risks described in the management discussion and analysis of the Company and the technical reports on the Company’s projects, all of which are available under the profile of the Company on SEDAR at www.sedar.com. Material factors and assumptions used to develop forward-looking statements in this news release include: expectations regarding the estimated cash cost per ounce of gold production and the estimated cash flows which may be generated from the operations, general economic factors and other factors that may be beyond the control of Monument; assumptions and expectations regarding the results of exploration on the Company’s projects; assumptions regarding the future price of gold of other minerals; the timing and amount of estimated future production; assumptions regarding the timing and results of development activities, including the ramp-up process at Selinsing and the completion of the proposed storage shed and ammonium nitrate depot; expectations that the Company will continue to be able to source explosives from suppliers in a timely manner; costs of future activities; capital and operating expenditures; success of exploration activities; mining or processing issues; exchange rates; and all of the factors and assumptions described in the management discussion and analysis of the Company and the technical reports on the Company’s projects, all of which are available under the profile of the Company on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements, except in accordance with applicable securities laws.
Freddy1989
1 month ago
I'm looking forward to your opinion, I'll have to take a closer look.
insert-text-here
1. EXECUTIVE SUMMARY
1.1 First Quarter of Fiscal Year 2025 Highlights
• $17.88 million cash on hand, $9.68 million increase from $10.9 million during Q1 FY 2025, compared to $4.54 million cash on hand,
$1.42 million decrease during Q1 FY 2024;
• $24.72 working capital, $4.17 million or 20% increase from $20.55 million at the end of June 30, 2024;
• Net profit of $3.00 million, or $0.01 per share for Q1 FY 2025, compared to net loss of ($0.08 million), or ($0.00)/share for Q1 FY 2024;
• Gross margin of 11.61 million for Q1 FY 2025, 2.9 times increase compared to $3.01 million in Q1 FY 2024;
• Production performance:
- 8,059 ounces of gold produced (Q1 FY 2024: 7,243 ounces);
- 9,270 ounces of gold sold at a record average realized price of $2,535/oz for gross revenue of $19.37 million (Q1 FY 2024: 4,607
ounces sold at an average realized price of $1,939/oz for gross revenue of $6.91 million);
- Cash cost of $837 per ounce sold (Q1 FY 2024: $847/oz);
- All in sustaining cost of $1,115 per ounce sold for Q1 FY 2025, 17% increase compared to $957/oz in Q1 FY 2024.
• Near mine resources and drilling targets evaluation initiated for expansion of life of mine.
NYBob
3 months ago
Monument Reports Fourth Quarter and Fiscal 2024 Results
September 30 2024 - 11:00AM
https://ih.advfn.com/stock-market/TSXV/MMY/stock-news/94634735/monument-reports-fourth-quarter-and-fiscal-2024-re
Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) “Monument” or the “Company” today announced its annual financial results for the year ended June 30, 2024 (“Fiscal 2024” or “FY 2024”). All amounts are in United States dollars unless otherwise indicated (refer to www.sedar.com for full financial results).
Cathy Zhai, the President and CEO commented, “Fiscal year 2024 was a remarkable year for the Company. The gold production generated $51.42 million gross revenue with net earnings of $6.44 million, or $0.02 per share contrary to net loss of ($6.27) million, or ($0.2) per share last year. $14 million cash flow with $10.86 million on hand and a healthy working capital of $20.55 million has turned around the Company to a much stronger financial position. The operation is sustainable and we are ready to move forward with further corporate development.”
Ms. Zhai further added: “The Company is assessing the potential production restart at the Murchison Gold Project while gold prices are at record high, and capitalizing its effort on resource expansion, market growth and returning to our shareholders.”
Fiscal Year 2024 Highlights:
Heathy cash flow, stable production: a net cash of $14.39 million generated from FY 2024 production compared to $0.12 million in FY 2023, increasing the cash balance to $10.86 million as of FY 2024 from $5.96 million at of FY 2023.
Working capital increased 109% to $20.55 million at the end of FY 2024 from $9.82 million at the end of FY 2023
Net profit positive: $6.44 million for FY 2024, or $0.02 per share, compared to a net loss of $6.27 million for FY 2023, or ($0.02) per share;
Significant increase in gross margin by 14 times: $24.83 million for FY 2024 compared to $1.75 million in FY 2023;
2024 production performance:
31,542 ounces of gold produced (FY 2023: 10,775 ounces);
30,713 ounces of gold sold at a record average realized price of $2,116 per ounce for gross revenue of $51.42 million (FY 2023: 7,060 ounces sold at an average realized price of $1,824 per ounce for gross revenue $12.39 million);
Cash cost per ounce sold of $866 per ounce (FY 2023: $1,507 per ounce);
A decrease of 32% in all in sustaining cost to $1,173/oz in FY 2024 compared to $1,722/oz in FY 2023.
Fourth Quarter Production Highlights:
Gold concentrate production improved during the three months ended June 30, 2024 (“Q4 FY2024”), with a total of 12,003 ounces of gold produced;
10,413 oz gold sold at an average realized price of $2,295/oz for $18.60 million (Q4 FY2023: 1,910 oz gold sold for $3.18 million in total including 1,148 oz at $1,949/oz for $1.74 million from gold concentrate sales and 762 oz at $1,883/oz for $1.44 million from gold bullion sales);
Cash cost per ounce for gold concentrate sold at $842/oz (Q4 FY2023: $917/oz);
AISC decreased to $1,183/oz (Q4 FY2023: $1,567/oz).
Fourth Quarter and Fiscal Year 2024 Production and Financial Highlights
https://ih.advfn.com/stock-market/TSXV/MMY/stock-news/94634735/monument-reports-fourth-quarter-and-fiscal-2024-re
GOD BLESS
Freddy1989
7 months ago
Here are the figures for the other producers so that you can perhaps put this into perspective a little better. Posts here often.
Mako Mining: The Company reported US$0.08 in earnings per share (EPS) during the quarter, while selling 9,267 oz of gold at $1,043 All-In Sustaining Cost ("AISC") ($/oz sold (1) (2)).
Jaguar Mining Gold production for the quarter was 16,177 ounces with 15,692 gold ounces sold, at cash operating costs¹ of $1,167 per ounce of gold sold and all-in sustaining costs¹ of $1,608 per ounce of gold sold. Realized gold prices were $2,076 per ounce.
Kinross Gold
Production cost of sales1, 2 of $982 per Au eq. oz. sold and all-in sustaining cost2, 3 of $1,310 per Au eq. oz. sold, both of which are in line with Q1 2023.
Barrick Gold AISC ($/oz)6 1,474 Dollar Q1 2024
Resolute Mining Ltd AISC bei 1.487 USD
Newmont Mining All-In Sustaining Costs (AISC) per ounce of $1,439
Agnico Eagle AISC 1190$/oz USD
Eldorado Gold AISC 1262 US Dollar
Silver Lake Gold AISC 1.522 AUD 998 USD
Sibanye Stillwater AISC 1.335 US$/2Eoz
Robex Resources: Gold production reached 51,827 ounces, at the high end of guidance for the year, with all-in sustaining costs (“AISC”) per ounce of gold sold1 of C$1,285, down 12% from 2022. This is USD 942.77
Westgold Q3 FY24 gold production of 52,100oz Au @ AISC of
$2,492/oz wobei man sagen muss in AUD das sind 1659,22 USD
Evolution Mining Gold production up 15% to 185,252 ounces of gold at a 9.6% lower All-in Sustaining Cost
(AISC)2 of $1,464 per ounce (US$963/oz)3
Northern Star Gold sold totalled 401koz at an AISC of A$1,844/oz (US$1,213/oz)
Monument Mining produced 5,488 ounces of gold (Q3 2023: 2,412 ounces);
- 8,727 ounces of gold sold at a record average realized price of $2,097
Gold production to 19,539 ounces at cash costs of $878 per ounce and AISC of $1,168 per ounce (YTD FY 2023: total of 6,003 ounces of gold
ounces of gold, of which 2,440 ounces from gold concentrate production and 3,563 ounces from gold bullion production at a cash cost
of $1,536 per ounce and AISC of $1,779 per ounce).
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