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Monument Mining Reports First Quarter Fiscal 2021 (“Q1 2021”) Results
VANCOUVER, British Columbia, Nov. 16, 2020 (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. 16, 2020 (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, 2020. All amounts are expressed in United States dollars (“US$”) unless otherwise indicated (refer to www.sedar.com for full financial results). President and CEO Cathy Zhai commented: “Fiscal 2021 started with new challenging as a global COVID-19 pandemic carried forward from fiscal 2020. The Company has fully resumed its production in the first quarter from eight-week’s mining ban at Selinsing in the first quarter, the Selinsing Sulphide gold plant upgrade is however still pending for financing. “On the other hand, gold price surged to record high and the gold mining sector was very active in Western Australia, gold mining producers enjoyed high production margins, and investment is flowing into that region for gold explorations. The Company continues try hard to access to financing, and it is very closely monitoring the market and looking for divesting of base metal portfolio to focus on primary gold assets, as well as new corporate development opportunities to lift up market value for the best interest of its shareholders.” First Quarter Highlights: 3,504 ounces (“oz”) of gold produced (Q1 2020: 4,852oz) with 3,100oz of gold sold for gross revenue of $5.92 million (Q1 2020: 4,323oz of gold sold for revenue of $6.34 million); Gross margin of $3.06 million (Q1 2020: $2.65 million); Average realized price per ounce, excluding prepaid gold sales, of $1,909/oz (Q1 2020: $1,475/oz); Cash cost per ounce of $923/oz (Q1 2020: $855/oz); All-in sustaining costs per ounce (“AISC”) of $1,055/oz (Q1 2020: $1,158/oz); Peranggih grade control drilling after positive trial mining results identified 58,662 tonnes at 0.93g/t Au materials; Production resumed at Selinsing after lifting eight weeks mining ban in last quarter during COVID-19 pandemic Entering into a Tuckanarra JV arrangement with Odyssey subsequent to the quarter opens corporate development opportunities in WA region. First Quarter Production and Financial Highlights Three months ended September 30, 2020 2019 Production Ore mined (t) 81,576 46,797 Ore processed (t) 166,432 234,030 Average mill feed gra...