Monument Mining: Market Ignores Recent Shareholder-Friendly On January 10, 2021, Monument Mining Limited reached an agreement to sell its 100% interest in the Mengapur Copper and Iron Project to Singapore-based Fortress Minerals Limited for US$30 million (C$38.1 million) plus 1.25% of gross revenues of all products produced at the project. Mengapur is not expected to produce revenues for some time.
In other words, Monument should receive compensation for one of its development projects equal to 175% of its enterprise value (C$39.5 million less C$17.7 million of net cash; see below), and perhaps even more depending on the future gross revenues of the base metals project. The transaction, which is subject to several approvals, including by Fortress shareholders, is expected to close around mid-April 2021.
https://thedeepdive.ca/monument-mining-market-ignores-recent-shareholder-friendly-project-divestitures/