RE:RE:Axino Capital Article on Monument Acknowledgements to Freddy.....this is commentary from group organizer
There is a report on Monument Mining on Axino's site.
https://www.axino.com/
This sale proceeds is a real money maker for Monument Mining, a gold producer that has been active in Malaysia for 11 years.
It even exceeds the total market cap of the company before the announcement. Accordingly, the share price reacted positively on all Canadian and German stock exchanges. This short-term phenomenon may even soon lead to a sustained recovery of the Monument share price.
There is still sufficient oxide ore in the Selinsing Gold Mine. Despite COVID-19-related impairments, more gold was produced and sold as of 6/30/20 than the same period last year. The increased AISC per ounce produced was easily offset by the then already strong gold price. In the second half of 2020, the price even rose again very strongly.
With the current sale of the copper and iron project in Malaysia, Monument can now focus on its gold assets in Malaysia and Australia and develop them further. Selinsing is to be supplemented sooner or later with a sulphide processing plant. A positive feasibility study is already available for this, which predicts profitable gold production for at least another 6 years.
This then in Malysia first and only processing plant of its kind is expected to cost about USD 53 million and could, in addition to its own ore, even take over and process sulfide ore from deposits of other resource companies.
However, the new plant will reportedly also be able to switch back to oxide ore, which is being sought at Selinsing at the same time. Construction of the new plant would take about 18 months.
The restart of the Burnakura gold mine in Australia is also being pursued with determination.
In addition to the current gold resources of 381,000 ounces there, there are relatively new good drill results from the Murchison overall project.
A promising joint venture for the Tuckanarra sub-project was only successfully concluded at the end of 2020.