Tuckanurra Acquisition Date Extended to Nov 13 '14 Monument Extends Close Date of Tuckanurra Acquisition (cnw)
VANCOUVER, Oct. 27, 2014 /CNW/ - Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) "Monument" or the "Company" announces that by mutual agreement between Monument and Phosphate Australia Limited ("POZ") the closing date for Tuckanarra Acquisition has been extended from October 23, 2014 to November 13, 2014. It is caused by delay of completion of due diligence and approval process due to a number of logistical and other practical and procedural issues.
Pursuant to the Tenement Purchase Agreement announced on August 28, 2014, the Company has agreed to acquire, free and clear of any encumbrances, a 100% interest in the Tuckanarra Gold Project from POZ. This acquisition is accretive to its 100% owned Murchison Gold Project as it will increase exploration potential and expend land position in the proven and prospective gold region of the Murchison District in Western Australia. The Murchison District has a long history of gold exploration success and production over the last 100 years and will add substantially to the prospective potential of Monument in Western Australia.
The transaction is ongoing and subject to completion of due diligence, regulatory approvals as required and final board approval by the Board of Directors of Monument.
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 in Malaysia and Australia, including the development stage, Mengapur Polymetallic Project in Malaysia and the Murchison Project in Western Australia. The Company employs approximately 300 people and is committed to the highest standards of environmental management, social responsibility, and health and safety for its employees and neighboring communities.
Robert F. Baldock, President and CEO
Monument Mining Limited
Suite 1580, 1100 Melville Street
Vancouver B.C. Canada V6E 4A6