Business
Monument Achieves Commercial Gold Production
Monument Achieves Commercial Gold Production
About this update from Monument Mining Limited
[{"type":"text","content":"\nMonument Achieves Commercial Gold Production\n\n\n Sep. 20, 2010 (Filing Services Canada) -- Monument Mining Ltd. (MMY - TSX Venture, D7Q1 - FWB), is pleased to announce it has advanced its Selinsing Gold Mine in Pahang State, Malaysia and has now achieved commercial production, effective September 2010.The board of Monument, in consultation with its auditors, has approved criteria used to determine the point at which commercial production is achieved under Canadian General Accepted Accounting Principles. In reviewing its operational results, the board has resolved that those criteria have been met and the commercial production has therefore been declared. The announcement of commercial production follows on from a successful commissioning of the newly built 400,000 tpa gold treatment plant comprised of the gravity circuit and the carbon in leach (\"CIL\") circuit, which has continuously processed open pit ores at an average monthly mill throughput of 30,000 tons with a 90% average total gold recoveries for consecutive 30 days.  Robert Baldock, the Chief Executive Officer and President of Monument commented, \"Commencement of commercial production at our Selinsing Gold Mine is a historic milestone for the Company, as it continues to increase shareholder value, and for the mining industry of Pahang State of Malaysia. Monument is starting to make a significant contribution to the sustainable economic development of the region by providing employment opportunities to local people, increasing income per capita in Pahang state, as well as setting high environmental standards.\"  From the first gold pour on October 31, 2009 to date, a total 21,000 ounces of gold has been produced from the first open pit of the Selinsing Gold Mine. The Company will be providing regular updates on its gold production as part of its quarterly financial disclosure.  About Monument Mining Limited\tCanadian based Monument Mining Limited has two wholly-owned principal properties: Selinsing Gold Mine Project (\"Selinsing\"); and Damar Buffalo Reef Prospect (\"Buffalo Reef\"); which are located in Pahang State in the Central Gold Belt District of Malaysia. In addition, the Company recently acquired the Famehub properties comprising 32,000 acres of highly prospective exploration land.In conjunction with extensive exploration prog...