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Monument Mining Limited (MMY.V)

TSXV - TSXV Real Time Price. Currency in CAD
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0.08000.0000 (0.00%)
At close: 3:53PM EDT
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Previous Close0.0800
Open0.0800
Bid0.0750 x 0
Ask0.0800 x 0
Day's Range0.0750 - 0.0800
52 Week Range0.0400 - 0.1200
Volume309,700
Avg. Volume115,982
Market Cap26.246M
Beta (5Y Monthly)0.75
PE Ratio (TTM)N/A
EPS (TTM)-0.0000
Earnings DateFeb. 28, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
  • GlobeNewswire

    Monument Reports Fourth Quarter and Fiscal 2020 Results

    Gross Revenue of $29.97 Million and Cash Cost of US$878/OzVANCOUVER, British Columbia, Sept. 15, 2020 (GLOBE NEWSWIRE) -- 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, 2020. All amounts are in United States dollars unless otherwise indicated (refer to www.sedar.com for full financial results). President and CEO Cathy Zhai commented: “Despite the eight week’s suspension of production at Selinsing Gold Mine starting March 18th 2020 in compliance with the Movement Control Order (“MCO”) issued by Malaysia Government against the Covid-19 pandemic, fiscal 2020 has generated positive cash flow, contributed mainly to record high gold price and improved recoveries. Working capital is sufficient to support the same level of operations capacity and procurement has been manageable with global dynamic changes in supply chains.”Ms. Zhai further commented: “Management is firmly moving forward with the Sulphide Project financing and actively engaging interested parties. We stay focused on our corporate development strategies to take upside opportunities for future sustainable production, including entering into the sulphide gold concentrates market using our planned sulphide Biox® treatment plant.”Fiscal 2020 Highlights: * 19,401oz of gold sold for $29.97 million (2019: 16,505oz of gold sold for $20.99 million); * Average realized gold price per ounce (“oz”) of 1,563/oz (2019: $1,260/oz); * Cash cost per ounce of $878/oz (2019: $713/oz); * All-in sustaining cost per ounce (“AISC”) of $1,136/oz (2019: $1,040/oz); * 17,360oz of gold produced (2019: 15,763oz); * Gross margin of $12.94 million (2019: $9.23 million); * Peranggih trial mining program completed with encouraging average gold recoveries; * Mentique Prospect discovered at west of Peranggih mineralization. * Drill program at Murchison confirmed targeted mineralization identified by geological structure study; * Full production capacity maintained during Selinsing production suspension caused by COVID-19 pandemic.Fourth Quarter and Fiscal 2020 Production and Financial Highlights Three months ended June 30,Year ended June 30,  2020 2019 2020 2019  Production     Ore mined (tonnes)          42,331            45,076         263,074          166,940  Waste removed (tonnes)        463,228          829,286      2,887,441       3,201,817  Ore processed (tonnes)          68,961          229,416         675,708          934,843  Average mill feed grade (g/t)              1.06                0.75               1.11                0.80  Processing recovery rate (%)67% 72% 71% 69%  Gold production (1) (oz)            2,311              3,577           17,360            15,763  Gold sold (oz)            3,282              3,623           19,401            16,505        Financial (in thousands of US dollars)$ $ $ $  Revenue            5,404              5,210           29,971            20,993  Gross margin from mining operations            2,653              2,204           12,944              9,227  Net income before other items               704                 759             4,509              2,907  Net loss           (1,273)            (1,115)               (275)               (499)  Cash flows generated from operations               657                (242)             6,273              2,139  Working capital          18,786            24,519           18,786            24,519        Loss per share before other items – basic (US$/share)              0.00                0.00               0.00                0.00  Loss per share – basic (US$/share)             (0.00)              (0.00)              (0.00)              (0.00)         Three months ended June 30,Year ended June 30,  2020 2019 2020 2019           OtherUS$/oz US$/oz US$/oz US$/oz  Average realized gold price per ounce sold (2)1,684 1,337 1,563 1,260           Cash cost per ounce (3)          Mining233 174 223 159    Processing454 539 507 456    Royalties143 106 136 92    Operations, net of silver recovery8                  11 12 6  Total cash cost per ounce 838 830 878 713  All-in sustaining costs per ounce (4)          By-product silver recovery1 1 1 1    Operation expenses179 -  40 -    Corporate expenses 6 (1)  6 6    Accretion of asset retirement obligation 12 14  9 12    Exploration and evaluation expenditures 45 47  32 43    Sustaining capital expenditures 174 383  170 265  Total all-in sustaining cost per ounce             1,255              1,274             1,136              1,040  (1)  Defined as good delivery gold bullion according to London Bullion Market Association (“LBMA”), net of gold doŕe in transit and refinery adjustment. (2)  Exclude gold prepaid delivery for comparison purposes. (3)  Total cash cost includes production costs such as mining, processing, tailing facility maintenance and camp administration, royalties, and operating costs such as storage, temporary mine production closure, community development cost and property fees, net of by-product credits. Cash cost excludes amortization, depletion, accretion expenses, capital costs, exploration costs and corporate administration costs. (4)  All-in sustaining cost per ounce includes total cash costs, operation expenses, and adds sustaining capital expenditures, corporate administrative expenses for the Selinsing Gold Mine including share-based compensation, exploration and evaluation costs, and accretion of asset retirement obligations. Certain other cash expenditures, including tax payments and acquisition costs, are not included.Fiscal 2020 Production Analysis  * Gold production of 17,360oz, a 10% increase as compared to 15,763oz of the previous year. The increase mainly resulted from higher mining rates and contained gold in old tailing materials and leachable sulphide ore, and less super low-grade oxide ore as compared to last year, which off set by lower mill feed. * Ore processed decreased to 675,708t from 934,843t last year. The decreased mill feed was mainly due to a decrease in stockpiled super low-grade oxide ore, less oxide ore being mined and the production suspension caused by COVID-19. The negative impact was offset by average mill feed grade that was increased to 1.11g/t from 0.80g/t,  brought the annum average processing recovery rate up to 71%, comparable to 69% of the previous year, despite the lower recoveries generally obtained from the transition ore materials.  * Cash cost per ounce increased by 23% to $878/oz from $713/oz of last year.  The increase was mainly due to additional reagents, processing time and energy required in leaching sulphide materials. * Ore stockpile has significantly reduced mainly due to adverse impact from lower mining rate in previous year that has yet be caught up. Significant mining facilities were used in fiscal 2019 to deliver material borrowed from mining waste for tailing development.  COVID-19 pandemic has not helped in achieving the target. The Company has devoted its effort to improve the stockpile balance.Fiscal 2020 Financial Analysis * Gold sales generated revenue of $29.97 million for the year as compared to $20.99 million from last year.  Gold sales revenue was derived from the sale of 16,750oz (2019: 15,300oz) of gold at an average realized gold price of $1,563 per ounce (2019: $1,260 per ounce) and the delivery of 2,651oz (2019: 1,205oz) in fulfilling gold prepaid obligations at an average London Fix PM gold price of $1,429 per ounce (2019: $1,429 per ounce). * Total production costs increased by 45% to $17.03 million as compared to $11.77 million from last year. The increase in production costs reflected timing difference of gold sold and higher mining and processing costs as compared to last year. * Gross margin for the year was $12.94 million before operation expenses and non-cash amortization and accretion.  That represented a 40% increase as compared to $9.23 million from last year. The increase in gross margin was attributable to an increase in gold sold and a higher average realized gold price but offset by higher mining and processing costs. * Net loss for the year was $0.28 million, or $nil per share as compared to net loss of $0.50 million or $nil per share from last year. The positive variance was caused by higher income from mining operations, offset by higher depreciation and amortization and higher tax expenses. * Cash and cash equivalents balance as at June 30, 2020 was $10.13 million, an increase of $0.78 million from the balance at June 30, 2019 of $9.34 million. As at June 30, 2020, the Company had positive working capital $18.79 million (June 30, 2019: $24.52 million). The decrease in working capital resulted from the drawdown of stockpiled ore by $5.29 million. * Cash used in investing activities for the year was $5.47 million (2019: $7.81 million), which was represented by $4.06 million invested in Selinsing for sulphide project development and tailings storage facility upgrades (2019: $5.86 million), $1.26 million and $0.15 million invested in Murchison exploration and evaluation projects and Mengapur exploration and evaluation projects, respectively (2019: $1.64 million and $0.31 million, respectively)..DevelopmentSelinsing Gold MineDuring the year ended June 30, 2020, development initiatives focused on projects at the Selinsing Gold Mine, namely the optimization of the sulphide gold project, the tailing storage facility (“TSF”) construction and mine development for gold production.The sulphide plant upgrade construction is anticipated to take 18 months inclusive of commissioning activities. Metallurgical drilling was undertaken at the Selinsing and Buffalo Reef pits for investigating the leachability of transitional sulphide ore through the current CIL circuit by adding lead nitrate and blending with super low-grade ore.Following the completion of construction of the TSF main embankment to 533.3m RL at the Selinsing Gold Mine, which has increased the TSF capacity for fiscal 2020 production, a plan for the second stage TSF lift to 535.5m RL was finalized to meet fiscal 2021 production requirements through the current oxide processing plant. Construction planning was initiated during the year, but its completion was postponed due to operation suspension caused by COVID-19.  The construction is on-going and has reached about 68.9% of the total TSF construction to 535.5m RL.  Preliminary planning for the final stage TSF lift to 540m RL commenced during the year, aimed to meet sulphide gold production capacity, which was withheld until completion of funding.Haul truck road construction was primarily completed during the second quarter which included 14 new culvert crossings along a 10km length from the Selinsing Northern tenement boundary to the south of the Peranggih tenement.  Trial pit for bulk mining started in January 2020, completed in February 2020 then continued with extension mining of the trial pit in March 2020.  Grade control drilling recommenced in Peranggih in May 2020.ExplorationMalaysiaDuring the year ended June 30, 2020, a soil sampling campaign that was conducted at the Peranggih area between December 2018 and March 2019 had delineated 1.8km by 0.8km gold soil anomaly located 1km west of the Peranggih deposit on a parallel north west- south east trending structure, with a peak value of 103ppb. This discovery has been named the Mentique Prospect. Infill soil sampling, trenching, and geological mapping are planned to be carried at Mentique to assist in creating a drill target and to determine the nature of mineralization in this area.AustraliaAt Murchison, exploration was focused on the completion of a 3D structural targeting study and then the execution of a drill program. The drill program tested near mine down-plunge targets that have been historically mined at NOA 1 and NOA 2, Alliance, New Alliance and Yagahong open pits as well as to test the regional NOA 9 target.A 3D structural study was completed that identified down plunge targets at Gabanintha and Burnakura. The study was finalized and confirmed near mine down-plunge potential and highlighted regional prospectivity. This study was used to refine drill targets in the subsequently completed drill program at Burnakura and Gabanintha.  The drill program commenced on February 26, 2020 and the first phase of this drill program was completed on March 12, 2020. During the first phase of drilling, a total of 4 holes for 839m of RC were drilled at Burnakura and 6 holes for 1,265m was drilled at the Gabanintha Project. In addition, 23 holes for 603m of AC were drilled at the NOA 9 regional target. Due to high volumes of water at Burnakura, several of the deeper planned RC holes at Alliance and NOA 1 and 2 were postponed and completed in a second phase of drilling. The second phase of drilling commenced on the April 23, 2020 and was completed on May 8, 2020 using an RC rig for precollars and a diamond rig for tails.  A total of 4 holes that included 738m of RC and 397m of DD tails were drilled in the second phase. Holes were widely spaced with a view to find significant new resources rather than smaller step outs from existing drilling. Geological structures and mineralization were generally intersected where expected.About Monument Monument Mining Limited (TSX-V: MMY, FSE: D7Q1) is an established Canadian gold producer that operates the 100% owned Selinsing Gold Mine in Malaysia. Its experienced management team is committed to growth and is advancing several exploration and development projects including the Mengapur Copper and Iron Project, in Pahang State of Malaysia, and the Murchison Gold Projects comprising Burnakura, Gabanintha and Tuckanarra in the Murchison area of Western Australia. 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 4A6FOR 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." Forward-Looking Statement 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 and the timing and results of 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; 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; the expected timing and results of development and exploration activities; 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.

  • GlobeNewswire

    Monument Provides Update on Selinsing Gold Mine in Malaysia

    VANCOUVER, British Columbia, Aug. 21, 2020 (GLOBE NEWSWIRE) -- Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) (“Monument” or the “Company”) provides an update on its wholly owned Selinsing Gold Mine in Pahang State, Malaysia. CEO and President Cathy Zhai said: “Selinsing is our primary gold producing project. We continue to work hard on several financing alternatives to upgrade the Selinsing Gold processing plant that will treat sulphide ore, bringing the new life of mine into production. In the meantime, our operations team is also focused on sustainability of gold production to bridge the gap during the conversion, enhancement of the sulphide project design, and carrying out gold concentrate test work to top up the current and future production profile.”Ms. Zhai continued with a brief on the corporate development: “I would like to take this opportunity to draw our shareholders’ attention to a bigger picture that may help them understand the background of reported development activities at Selinsing. Monument's first stage of corporate development has delivered two portfolios of projects including gold and base metal from a single near production project - Selinsing Gold Mine acquired 10 years ago. The second stage of corporate development is focused on the gold portfolio, include Selinsing Gold Sulphide Project development and Murchison Gold Project. Both gold projects have cash generation capacities subject to initial funding and blue sky potential. This gold portfolio is our foundation and part of our future. Our base metal portfolio - Mengapur Copper and Iron Project has also provided us opportunities and we work on our strategy alternatives on it as well.” Ms. Zhai commented further: “We believe in vision and persistence that will lead us to achieve our corporate objectives, and we have made good progress in which we have not only been evaluating the available opportunities, but also creating new opportunities that we believe are in the best interests of our shareholders. We will make an announcement when any opportunity becomes material.”Gold ProductionThe Selinsing gold mine has been in commercial gold production since 2010, and has produced 312,916 oz of gold, generating over $423 million in gold revenues and $268 million net cash since startup up to March 31, 2020; 15,048oz of gold were produced in the latest nine month period in fiscal 2020, increased by 2,862oz or 24% compared to 12,186oz for the same period of fiscal 2019. The current production strategy is to achieve sustainability of production with positive cash flow to bridge the gap to start up the new life of mine; it has been achieved by supplying leachable sulphide ore to the current oxide plant. The mining was carried out on Selinsing Pit 5/6 and Block 7 for remaining oxide but mainly transitional leachable sulphide ore and a cutback at Selinsing Pit 4 and Block 7 to gain access to additional oxide material. In Q4, mining activities were conducted at Selinsing Pit IV south west cutback, Pit V/VI, Buffalo Reef Block 7 and Buffalo Reef North.Selinsing gold production was temporarily put on hold for approximately eight weeks by the Movement Control Order issued by the Malaysian government as a preventative measure against the Covid-19 pandemic. Production has resumed gradually through remaining fiscal year 2020 since mid-May. The workforce had gone through a long medical screening process; the milling started using the secondary mill first; and mining did not resume until June 12th due to the delayed issuance of the blasting permit which badly affected production. Mining of free dig oxide ore was initiated at Buffalo Reef North to help make up the shortfall. Construction to raise the tailing storage facility (“TSF”) was completed in September 2019 to an elevation of 533.3 mRL to increase TSF capacity for fiscal 2020 production. TSF construction activities to 535.5m RL resumed in mid-May 2020 to meet 2021 production requirements. TSF construction work is continuing and is expected to be completed by early September 2020.Sulphide Gold Project Optimization At the Selinsing Gold Mine a positive Feasibility Study (FS) was completed by Snowden in January 2019 which includes the Selinsing deposit, and the adjacent Felda Block 7 and Buffalo Reef deposits. The FS establishes the economic viability of the project for a six year life of mine through the extension of the existing oxide plant by adding a flotation and BIOX® plant to process refractory sulphide ore materials. The Company continues to focus on obtaining financing alternatives for the extension, which is expected to place the Selinsing Sulphide Project into production within 18 months from the commencement of construction.In May 2020, the preparation of the next five years’ operation projection was undertaken to deliver a production schedule based on the Resources and Reserves reconciliation. Its aim is to maximize the economic return at an operation level according to the FS and changes in gold price level. Under which, the leachable sulphide materials will be continued to feed into the current oxide treatment plant, while non-leachable sulphides will be fed into the sulphide treatment plant once converted. The operating plan is to facilitate the timing of financing. The engagement of a single major equipment supplier was under consideration, with options for process guarantees, increased automation and control expected to improve recovery and reduce operating costs.The consideration includes, but is not limited to, reduction of the completion time for long lead items such as stainless steel for BIOX® based applications, the provision of HV power supply, BIOX® agitators, flotation cells and thickeners; the refinement of sulphide gold project plan to reach maximum feasible return; improvements to the layout to make better use of the local topography, to shrink the overall plant footprint and to reduce the capital cost by reducing structural steel requirements and shortening the length of pipe and cable racks.R&D WorkBioleach Batch Amenability Tests (BAT) was carried out to investigate the response of Buffalo Reef and Selinsing flotation concentrate to the adapted locally sourced bacteria inoculum. Training of the laboratory technicians continued in the site bioleaching laboratory to monitor the condition, adjusting the parameters and checking the progress of the BAT tests. BAT tests carried out on Buffalo Reef flotation concentrates achieved sulphide oxidations between 97 - 99% and gold leachability of 94% on the bioleach residues. Sulphide oxidation of 97% was reported from a BAT test on a composite flotation concentrate of Buffalo Reef, Felda Block 7 and Selinsing ore; gold leachability was 91%. The test results supported the previous BIOX® test work conducted for the feasibility study.In order to feed leachable sulphide materials to the current oxide treatment plant, Sulphide Leachability Testwork is being performed including 2019 metallurgical drilling at the Selinsing and Buffalo Reef pits for investigating the leachability of transitional sulphide ore through the current CIL circuit by adding lead nitrate and blending with super low-grade ore (Au at 0.35-0.50 g/t grade range).The majority of samples showed good leachability with a gold recovery above 70% at Selinsing Pit 5. Testwork was also conducted on a sample of stockpiled Selinsing Pit 4 sulphide ore, previously rejected due to low leachability using direct CIL bottle rolled test. The sample was tested using gravity separation and followed by a CIL bottle roll test. Gravity concentration using a Knelson concentrator gave a recovery of 39% and CIL test work on the gravity tailings recovered a further 38% for an overall 77% recovery; adding lead nitrate to the leach improved the CIL recovery to 47% and overall recovery to 85%. Transitional sulphide ore from Buffalo Reef pits however, did not respond well to gravity separation followed by CIL test even after the addition of lead nitrate.Testwork has been carried out on third party gold concentrate materials. The intent is to open up the upside for gold production at Selinsing Gold Mine through both oxide and sulphide plants. Certain high grade concentrate samples were tested in the laboratory by conventional gravity and CIL methods. Gravity recovery was 47% and CIL recovered a further 29% for a total recovery of 76%. Batch trial processing is intended to be performed for 100 tonnes of concentrates fed through the Selinsing processing plant. Other samples are also under review.Peranggih Trial Mining At Peranggih, a new oxide exploration target 14 km north of the Selinsing Gold Mine, trial mining was carried out from February 22 to March 3, 2020, under which the bulk sample was extracted from the higher mineralized area (please refer to Monument’s News Release on April 20, 2020). The bulk sample material was fed into the existing Selinsing oxide gold processing plant to confirm the average grade of the close-spaced drilled area, to quantify the presence of coarse gold and to test the metallurgical performance at plant scale. The trial mining generated a positive cash flow (News Release, April 20, 2020). After the successful trial mining program at Peranggih, the Operational Mining Scheme report (“OMS”) was amended to include Peranggih mining activities, and upon approval by the Department of Mineral and Geosciences the mining activities at Peranggih will be permitted under the Mineral Development Act 2004 and State Mineral Enactment 2001.Additional grade control drilling was carried out near-surface ore delineation at Peranggih. The initial 5,002m stage 1 drilling commenced in June 2020 and was completed on July 6th 2020 to define the extensions of the known mineralization along strike to the Northeast and Southwest of the Peranggih trial mining area. 2,493 drilling samples at 2m internals and 135 QAQC samples were assayed, the results have shown a total mineralized material of 72,111 tons at 0.88 g/t with 2,040 oz contained gold from the surface of Peranggih central and southern zone down to 10m deep. The gold mineralization is associated with quartz breccia and tuff breccia material in a north west trending structures. The mineralization is still open down dip and along strike.There is currently no NI 43-101 mineral resource estimate established anywhere on the Peranggih Gold Prospect. There is no certification as to the accuracy of the results and readers should use caution in their use and interpretation. The mineralized materials will be extracted to feed into the mill when the grade control results are confirmed as satisfactory.The grade control activities are expected to continue during the next quarter and beyond.The scientific and technical information in this press release has been prepared by Azman Taib, B.Eng. (Mineral Resource), Metallurgist at Selinsing Gold Mine and by Adrian Woolford, B.Sc., (Hons), Chief Geologist of Monument Mining Limited; reviewed and approved by Michael John Kitney, MAICD, MSc., MAusIMM, and Roger Stangler, MEng, FAusIMM, MAIG, both Qualified Persons as defined by NI 43-101, retained by Golder Associates Pty Ltd.About Monument Monument Mining Limited (TSX-V: MMY, FSE:D7Q1) is an established Canadian gold producer that owns and operates the Selinsing Gold Mine in Malaysia. Its experienced management team is committed to growth and is advancing several exploration and development projects including the Mengapur Copper and Iron Project, in Pahang State of Malaysia, and the Murchison Gold Projects comprising Burnakura, Gabanintha and Tuckanarra in the Murchison area of Western Australia. The Company employs approximately 202 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 4A6FOR 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." Forward-Looking Statement 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 and the timing and results of 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; 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; the expected timing and results of development and exploration activities; 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.

  • We're Interested To See How Monument Mining (CVE:MMY) Uses Its Cash Hoard To Grow
    Simply Wall St.

    We're Interested To See How Monument Mining (CVE:MMY) Uses Its Cash Hoard To Grow

    There's no doubt that money can be made by owning shares of unprofitable businesses. For example, although...