Monument Mining Ltd V.MMY

Summary Bullets From Q3 report

[nozzpack]

No partucular order..

1.....Working capital at March 31 was $50.6 m USD , most ( about $48 million USD ) was cash and cash equivalents amounting to about $60 million in CAD

2....Substantial build up in Inventory which is now valued at $17.3 m USD including 4550 ounces of finished dores

3....158,000 tons of ore containing 4150 ounces of gold was stockpiled during Q3, the first ore stockpiled in over a year

4..Q3 production was scraping the bottom of the oxide barrel at Selinsing, with mosty low grade leachable sulphides and very low grade tailings and very little Peranghi ore.

5...Pit 4 was dewatered, making available recently defined oxide mineralization in the wall cutback

6..Massive close spaced grade control drilling at Peranghi ( nearly 20,000 m , doublling the previous total grade control ) which filled in the space between South Pernaghi high grade area and Central Peranghi high grade area, and extending north towards Peranghi North High grade zone

7...over 2000 ounces have been  processed from Peranghi during the current quarter, presumably due to the initiation of bench mining of oxides below the 10 m level exposed by grade control drilling.

8..along with availablity of pit 4 oxides and increased transitional ore from pits 5 and 6, it appears that we are now finally on the upswing in gold production, with active mining of Peranghi now capable of sustaining production and increasing gold recovey to normal levels.

9...Colombian concentrate margins proved to be too thin for commefcialization...new sources are being sought

10. At March 31, we had only 10 months of gold forward sales remaining ( 2400 ounces)

11..$1.75 million was spent refurbising the Murchison Crusher equipment

12...Ground preparationsfor drilling sites  have begun at Murchison, drilling to begin as soon as drill equpment arrives

13..$1.14 m AUD in cash will be received at June 30, as part of the cash installment for ODY JV

14..Arrangements for the next stage of exploration of Mentique are being considered

15...Management will consider shareholders request to seek a ASX listing as part of its order of business

16..a 6 month drilling program at Murchison will take place in 2021, with results regulalrly released

17..1258 m of deep drilling at Peranghi was completed in Q3, with assays pending.


I am sure I may have missed some items, as the above was retrieved from memory after reading Q3 documentation..

All in All, we have survived the low production period of diminsihing oxides at Selinsing, while awaiting new oxide production from Peranghi to begin.

That is now happening.

Our balance sheet is superb, with extra cash, after funding the Floatation plant and Murchison drilling.

Within 12-15 months, we shall see the floatation plant begin producing Selinsing sulphides for concentrate production .

This summer should see lots of drilling activity at Murchsion , preparations for resumption of mining, and perhaps some advance exploration program late in the calendar year at Mentique.

If mnanagment accedes to requests for a ASX listing, that will be a big boost to our liquidity and share price , as it will dog tail that of ODY drilling of our other Murchiosn tenement, Tuckanara.

Any comments would be appreciated

[deiwel]

totally agree with you, the rest was known that the quarter was going to be bad and we use low grade material

[romara]

I really think you are making up a lot of  that stuff up,  without references .... how is anybody going to prove ... it's true, or not true??? Examples: "9...Colombian concentrate margins proved to be too thin for commefcialization...new sources are being sought" "15...Management will consider shareholders request to seek a ASX listing as part of its order of

[SilverNS]

The trading on the ASX is my suggestion and I have been pushing for Cathy to get us listed.  I exchanged emails with her on this again yesterday even though she has not made a commitment.  But my email to her is that it just make sense.

[romara]

Maybe so.... I have also written to her about things I don't like, like Director's salaries... which she changed. But ..... there is nothing in the current MD&A about listing on the ASX... that is my point. You don't mix your views with points in the current MD&A ....   Richard

[SilverNS]

I do not believe anyone said that that they have seen anything official from management on us trading on the ASX.

[romara]

Well!!... here it is again... I will post ....   Richard RE:RE:RE:Summary Bullets From Q3 report Maybe so.... I have also written to her about things I don't like, like Director's salaries... which she changed. But ..... there is nothing in the current MD&A about listing on the ASX... that is my point. You don't mix your views with points in the current MD&A