Gascoyne-MonumentGascoyne Resources to update Monument Mining transaction Wednesday, December 17, 2014 by Proactive Investors Gascoyne Resources to update Monument Mining transaction Gascoyne Resources (ASX:GCY) is preparing to update on the proposed Monument Mining (TSX-V: MMY) transaction. The ASX has granted the company a trading halt to organise, with its shares placed in pre-open. Previously the company has said that Gascoyne and Monument will form a 50:50 Joint Venture on the Glenburgh, Egerton and Dalgaranga Projects, which are located in Western Australia. - Jointly Funded Exploration Joint Venture managed by Gascoyne; - Monument to manage Development and Mining Operation Joint Ventures; and - GCY’s portion of capital costs to be funded by Monument through non recourse participant loans, repayable from 80% of Gascoyne’s share of revenue. Monument to issue 100 million shares to Gascoyne for 50% interest in JV properties (Gascoyne will own 19.6% of Monument). The halt will remain in place until the opening of trade on Friday 19th December 2014, or earlier if an announcement is made to the market.