Monument Mining Ltd V.MMY

Alternate Symbol(s): MMTMF

Metals & Mining Gold

Monument Mining Limited is a 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 a 20% interest in Tuckanarra Gold Project, jointly owned with Odyssey Gold Ltd in the same region. Located in the Central Gold Belt of Western Malaysia, the Selinsing Gold Mine covers a total area of approximately 150.3 square kilometers (km2) and includes the Selinsing, Buffalo Reef, Felda Land, Peranggih and Famehub properties. The Murchison Gold Project includes the Burnakura, Gabanintha, and Tuckanarra properties, which are located in the Murchison goldfield of Western Australia, 40 kilometers (km) southeast of Meekatharra and approximately 765km northeast of Perth. 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.

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Monument Mining Ltd > Restricted Cash

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Post by SilverNSon Nov 17, 2020 6:42am

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Post# 31912731

Restricted Cash

Nothing in the report about the transaction with the exception of restricted cash.

As at September 30, 2020, the Company has restricted cash of $4.06 million (June 30, 2020: $0.30 million) representing issued letters of credit and fixed deposits as guarantees for utilities, custom duties and certain equipment of $0.30 million (June 30, 2020: $0.30 million) and a refundable deposit of $3.75 million received in July 2020 (June 30, 2020: nil) placed in escrow for commencement of a due diligence for a potential transaction.

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