Monument Mining Ltd. V.MMY

Alternate Symbol(s): MMTMF

Metals & Mining Gold

Monument Mining Limited is a Canada-based gold producer. 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 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.

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Monument Mining Ltd. > Scoping of concentrate Production…52,000 ounces

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Post by nozzpackon Feb 27, 2023 7:08pm

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Post# 35308400

Scoping of concentrate Production…52,000 ounces

We have some very interesting tidbit provided in todays NR which can be combined with FS information to scope out annual concentrate production

...950,000 tons of mill feed per year ( about 3000 tpd )

....Mass pull of 5% ( ie 100 tons of ore is concentrated by a factor of 20 to 5 tons of concentrate )

..head .grade of 1.95 gms per ton ( oxides removed )

....recovery of 85%

So , we have 1.95 gms/ ton. X 20 X 85 % = 35 gms per ton which is spot on the performance reported today.

950,000 tons of head feed is concentrated by a factor of 20 ( ie Mass pull of 5% ) to 47000 tons of concentrate containing 1.1 ounces of gold per ton .

This computes to about 52,000 ounces of gold per year contained within 47000 tons of gold concentrate

The Feasability Study included Biox and also oxides .

It quoted 60.000 ounces per year in the initial years of production .

So, removing the oxides from the mill feed and 53,000 ounces of sulphide gold produced per year seems quite good and meets breast plate production rates.

Reducing production by about 10 % for smelting and transportation costs and our net gold sales will be about 48,000 ounces per year which at current POG of $2259 CAD per ounce will result in about $105 million CAD in annual revenues.

The FSR analyst report calculated a 30% cash flow margin which is just over $30 million CAD per year.

As we have nearly $45 million US in forward non capital tax loss pools to offset income taxes, that amount ($30 m CAD ) is essentially free cash flows.

There will be need for sustaining capital , so remove $5 million for that and we have about $25 million or about $0.08 per share in free cash flows or equivalently in the absence of taxes, net earnings

This gets us to about book value of $0.48 per share at a very modest 6 times annual earnings

So todays NR provided an excellent insight into our FP production outlook .
As importantly , it confirms and conforms quite well with the 2019 Feasability Study which is quite reassuring.

Considering that we have over $75 million in asset value in our Murchison
Project, Monument is now a screaming buy.

" As of February 22, 2023, a total of 1,707 tonnes of flotation concentrate have been produced at an average grade of 35.12 g/t Au...1928 ounces of gold"