Monument Mining Ltd V.MMY

West Gold Will Go Looking

[nozzpack]

Westgold is now just $0.90, after taking a $175 m impairment.

Forecast 2022-23 production to decline by nearly 20 % and ASIc will continue to rise to over $2000.

Underground mines are more expensive oweing to high mining costs which are twice that of open pit.
High diesal prices have exacerbated those costs...and WestGold is mostly U/G mining.

They have over $175 m in cash.

In my opinion, they will seek to acquire a low cost producing mine and/or more open pit deposits close to their mills which now have excess unused capacity.

MMY meets both requirements..

[Wayned52]

Hi nozz  ,   I think we had this conversation more than a year ago when West Gold shows very high costs and expensive , low grades .  Even then they were wringing the last little bit out of a dead horse . I don`t know how they managed to hang onto all that cash this long .     I think this is normal now for CEO`s everywhere but especially in mining where

[nozzpack]

Wayne, I admire your long history including your treks into various gold regions plus the fact that you are a very good story teller. Western Australia is almost completely devoid of new oxide discoveries. So, virtually nothing to buy but another underground mine. ODY is having great success at Tuckanara because apparently previous miners left behind more than muck. Its why Monument should focus

[SilverNS]

ITG84 must have over 3 million share now 

[romara]

 Silver.... for anyone new to take control of MMY, they will need to own, or have control of approximately 200 million shares. ......   Richard

[nozzpack]

ITG buys every day and usually at the lower prices, however small the volume. For over 40 months he has been buying. This has to be a very motivated buyer who sees great value that needs to be released and is prepared to do so..

[Wayned52]

Thanks nozz . you have put more effort into this than most insiders . I sincerely hope your efforts are going to be rewarded soon and we can all put this one behind us .