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Monument Mining Reports First Quarter Fiscal 2019 Results
VANCOUVER, British Columbia, Nov. 28, 2018 (GLOBE NEWSWIRE) -- Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) “Monument” or the “Company” today announced it
About this update from Monument Mining Limited
[{"type":"text","content":" VANCOUVER, British Columbia, Nov. 28, 2018 (GLOBE NEWSWIRE) -- Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) “Monument” or the “Company” today announced its first quarter production and financial results for the three months ended September 30, 2018. All amounts are in United States dollars unless otherwise indicated (refer to www.sedar.com for full financial results). President and CEO Cathy Zhai commented on first quarter fiscal 2019 financial results: “The Company aimed to unlock value in its mineral project portfolio by strategically progressing technical and economic studies under NI43-101 Standards, in supporting project financing, construction and development over three wholly owned major mineral assets. At Selinsing, in Malaysia, the Feasibility Study (“FS”) for the Sulphide Project is nearly wrapped up with an execution plan. At Burnakura, in Western Australia, the NI43-101 Mineral Resource Estimation filed in July 2018 reported 275% increases in Mineral Resources and has led to adding underground mining opportunities to the Burnakura Gold Project. At Mengapur, in Malaysia, a NI43-101 Mineral Resource Estimation Report, SEDAR filed in October 2018, has confirmed historical resources in copper, gold and silver, and formed a foundation for further economic assessment and provided development opportunities.” First Quarter Highlights: 4,550oz of gold sold for gross revenue of $5.53 million (Q1 2018: 3,500oz of gold sold for gross revenue of $4.50 million); 3,308oz of gold produced (Q1 2018: 3,384oz); Cash cost per ounce (“oz”) of $617/oz (Q1 2018: $948/oz); Gross margin of $2.72 million (Q1 2018: $1.18 million); Selinsing Sulphide FEED study completed; Mineral Resources increased by 275% at Burnakura, reported in a NI43-101 Mineral Resource Estimation Technical Report; and A NI43-101 Technical Report completed at Mengapur, subsequent to the quarter, that included a copper, gold and silver mineral resource estimation. First Quarter Production and Financial Highlights Three months ended September 30, 2018 2017 Production Ore mined (tonnes) 30,305 30,694 Ore processed (tonnes) 236,805 221,536 Average mill feed grade (g/t) 0.81 0.61 Processing recovery rate (%) &n...