Monument Mining Ltd V.MMY

Provisional Valuation of Murchison

[nozzpack]

Karora ( KRR..$3.90  ) acquired its Higginsville Mine in Murchison and plant from WestGold in late 2019.

It is currently producing 95,000 ounces  per year and has 1.3 m ounces in 2P and 2.5 M ounces in M & I.

Its current market cap is $550 million.

That is about $220 per M & I Ounce and about  $475 per  ounce of 2 P reserves.

In addition, it is valued at about $600 per produced ounce of gold.

Lets assume Murchison begins producing at 30,000 ounces per year which is quite reasonable expectation.

This would give Murchison a valuation of about $180 million cad or about $0.55 per share.

Murchison has about 550,000 ounces of M & I.

That would value Murchison at about $115 million cad or about  $0.37 per share.

As previously posted, our Murchison tenements are quite large and offer significant exploration upside on a spatial basis, and ona depth basis, almost certainly beneath the 10-12 open pit mines contained therein.

Anyway, that gives us some perspective as to what we can expect in terms of market cap, once we begin exploration and development programs for Murchison and production resumes at 30,000 ounces per year

[SilverNS]

My one question - we know Dato is onboard.  Do we have the team take Western Australia to the next level?

[romara]

I have a feeling "Dato" is on the BoD's because of the Mengapur property, which by the last NR, MMY wants to now dispose of.... Maybe the "Letter of Interest" is all about Mengapur. From the last NR " Since 2008 Dato’ Sia Hok Kiang has been the Executive Chairman of Malaco Mining Sdn Bhd, one of the major shareholders of Monument." ........   Richard

[nozzpack]

Dato just sold his Australian  producing copper mines to a Chinese buyer in Dec 2019. So, he has good mining experience in Australia. Monument have a good technical team but management is too lazy to get out of its own way. At $600 million CAD per producing ounce of gold with an excellent balance sheet, Selising alone should be valued at $0.35 per share on annual production of 20,000

[SilverNS]

I would think that DATO would have sufficient connections to put a mining team in place with minimal delay. The more I think about this and the news release that came out stating that they are moving their focusion to the Western Australia Region. The more it make sense.

[nozzpack]

So, we have Selinsing valued at $0.35 on its current production and Murchison valued at $0.37 on its high grade ore that can be quickly placed into production. Thats how peer proxy ratings work out but for Selinsing , it ignores the emerging new discoveries at Peranghi and probably Mentique. But back to Murchison and NOA 7/8 which already has a portal for underground mining, has a close by mill

[SilverNS]

I will 2nd this - I am prepared to wait this out for a couple of months as I feel we could be giving away a gold mine.  We just need a team to lead us.

[SilverNS]

The one news release we need right now is that we sold Megapur and we will use all the funds to start production on Murchison.