VANCOUVER, April 23, 2013 /CNW/ - Monument Mining Limited (TSX-V: MMY
and FSE: D7Q1) ("Monument") confirms that, as mentioned in Central
Australian Phosphate Limited's ("CEN") Target's Statement released
today, it has made an indicative non-binding conditional proposal to
acquire all the share capital of CEN at an indicative offer price of
A$0.031 cash per CEN share. This would correspond to an estimated
equity value for 100% of CEN of A$18.3 million (C$19.2 million1) before transaction costs. Monument's indicative proposal is subject
to satisfactory completion of due diligence and agreement with CEN on a
number of conditions, and may not lead to an offer.
The cash consideration would be funded from existing facilities and any
acquisition would be subject to Monument's strict due diligence
criteria.
Based in Australia and listed on the Australian Securities Exchange, CEN
is an exploration company whose largest asset is a phosphate project
(the "Arganara Project"), which is located in the Northern Territory
and comprises significant mid-grade phosphate deposits. See www.nupowerresources.com.au for further information.
Commenting on the indicative proposal, Monument President and CEO,
Robert F. Baldock, said: "As part of the planned operation of
Monument's Mengapur Polymetalic Project, one of the main by-products
will be sulphuric acid. In combination with an adequate supply of
phosphate rock, it is intended that Monument will manufacture a range
of high-grade fertilizer products. Accordingly, sourcing a large and
stable supply of phosphate rock is a core component of our longer-term
strategic objectives for the Mengapur Polymetalic Project and Monument
more broadly. The Arganara Project, with its highly promising phosphate
deposits, and central geographic location, represents a highly
attractive proposition for Monument."
CEN announced on February 13, 2013 that it had received an unsolicited
takeover offer from Rum Jungle Resources Limited ("RUM") at a headline
offer price of A$0.0215 in cash and RUM shares per CEN share.
Monument is being advised by ICS Advisory as financial adviser and Hardy
Bowen and DuMoulin Black LLP as legal advisers.
Monument will update its shareholders on material developments, as
appropriate.
About Monument
Monument Mining Limited (TSX-V:MMY, FSE:D7Q1) is an established Canadian
gold producer that owns and operates the Selinsing Gold Mine in
Malaysia, with production cash costs among the lowest in the world.
Its experienced management team is committed to growth and is advancing
several exploration and development projects in Malaysia, including the
100% owned, development stage, Mengapur Polymetalic Project. The
Company employs 320 people in Malaysia and is committed to the highest
standards of environmental management, social responsibility, and
health and safety for its employees and neighboring communities.
"Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release."
Forward-Looking Statement
This news release contains forward-looking statements about Monument
Mining Limited ("Monument"), its business and future plans.
Forward-looking statements are statements that are not historical facts
and include the timing of the proposed programs and events. The
forward-looking statements in this news release are subject to various
risks, uncertainties and other factors that could cause actual results
or achievements to differ materially from those expressed or implied by
the forward-looking statements. These risks and certain other factors
include, without limitation, the estimated cash cost per ounce of gold
production and the estimated cash flows which may be generated from the
operations, general economic factors and other factors that may be
beyond the control of Monument; statements regarding the future price
of gold; the estimation of mineral resources; conclusions of economic
evaluation (including scoping studies); the realization of mineral
resource estimates; the timing and amount of estimated future
production, development and exploration; costs of future activities;
capital and operating expenditures; success of exploration activities;
mining or processing issues; currency exchange rates; government
regulation of mining operations; and environmental risks. Generally,
forward-looking information can be identified by the use of forward-
looking terminology such as "plans", "expects" or "does not expect",
"is expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates" or "does not anticipate", or "believes", or
variations of such words and phrases or state that certain actions,
events or results "may", "could", "would", "might" or "will be taken",
"occur" or "be achieved". Forward-looking information is subject to
known and unknown risks, uncertainties and other factors that may cause
the actual results, level of activity, performance or achievements of
the Company to be materially different from those expressed or implied
by such forward-looking information, including but not limited to:
general business, economic, competitive, geopolitical and social
uncertainties; the actual results of current exploration activities;
foreign operations risks; other risks inherent in the mining industry
and other risks described in the annual information form of the
Company, which is available under the profile of the Company on SEDAR
at www.sedar.com. Although the Company has attempted to identify important factors that
could cause actual results to differ materially from those contained in
forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can be
no assurance that such information will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not place
undue reliance on forward-looking information. The Company does not
undertake to update any forward-looking information, except in
accordance with applicable securities laws.
1Based on an exchange rate of A$1.00 = C$1.05 as at 22 April 2013
SOURCE: Monument Mining Limited
Robert F. Baldock, President and CEO
Monument Mining Limited
Suite 910- 688 West Hastings Street
Vancouver B.C. Canada V6B 1P1
FOR FURTHER INFORMATION visit the company web site at www.monumentmining.com or contact: