Monument Mining Ltd V.MMY

Peranghi Outlook

[nozzpack]

We know that They continue to strip Peranghi and expand its auriferous zones to the north.
At least 4 open pits have been contoured and benched and plans are being considered to resume phase 2 exploration of Mentique.

As I pointed out earlier, hard rock mining of sulphides will require all of the upstream grinding and crushing capacity .

This means that the CIL milll will be shut down around July 2023 , unless and until upstream capacity is expanded.

I find this rather odd, as such will be the case until Biox is installed.
This may be 5 years or more depending on the POG and concentrate production providing sufficient cash flow to fund Biox install.....over $30 m.

If course, low grade material can still be used to rebuild inventory levels from current very low levels but commercial production of Peranghi open pits cannot proceed given processing capacity constraints.
I have asked but have not received any satisfactory explanation of this side effect of concentrate production .

Heap leach production on a small scale was carried out at Selinsing several decades ago.
We have most of the required heap leach equipment in storage at Murchison .

Perhaps 1+ 1 is no longer 2..

[Gazoo2021]

Hi Nozz Just a quick question, Can they have the option to select to process sulfide ore through the plant and process oxide ore through the expansion of the mill? More spefically, could they process both ores types simultaneously? They appear to be developing a new sulfide open pit area? Thanks for clarifying this item. Gazoo

[nozzpack]

Good question. Th CIL mill will not be used while sulphide ore is being mined and processed as that ore will use the full 950,000 tons per annum of crushing and grinding capacity. I assume if the upstream crushing/ grinding capacity is expanded, presumably both types of ore could be produced..