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Monument Mining Reports Fiscal Q1 2018 Financial and Operating Results
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 29, 2017) - Monument Mining Limited (TSX VENTURE:MMY) (FRANKFURT:D7Q1) "Monument" or the "Company" today announ
About this update from Monument Mining Limited
[{"type":"text","content":"VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 29, 2017) - Monument Mining Limited (TSX VENTURE:MMY) (FRANKFURT:D7Q1) \"Monument\" or the \"Company\" today announced its first quarter production and financial results for the three months ended September 30, 2017. All amounts are in United States dollars unless otherwise indicated (refer to www.sedar.com for full financial results). President and CEO Robert Baldock commented on first quarter fiscal 2018 financial results: \"The Company continued to development it's Malaysian and Western Australian gold portfolios. At Selinsing, we closed the Felda Block 7 transaction, completed a close spaced drilling program at Peranggih North, and continued the Front End Engineering Design (\"FEED\") study for the Sulphide Project. At Murchison, we commenced the Preliminary Economic Assessment (\"PEA\") at Burnakura.\" First Quarter Highlights: 3,500oz of gold sold for gross revenue of $4.50 million (Q1 fiscal 2017: 2,350oz of gold sold for gross revenue of $3.14 million); 3,384oz of gold produced (Q1 fiscal 2017: 3,291oz); Cash cost per ounce (\"oz\") of $948/oz (Q1 fiscal 2017: $981/oz); Closed Felda Block 7 transaction at Selinsing; Completed close spaced drilling program at Peranggih North; A FEED study being carried out on Selinsing to deliver an Implementation Execution Plan for the Sulphide Project; and Preliminary Economic Assessment (\"PEA\") commenced at Burnakura. First Quarter Production and Financial Highlights Three months ended September 30, 2017 2016 Production Ore mined (tonnes) 30,694 61,882 Ore processed (tonnes) 221,536 231,000 Average mill feed grade (g/t) 0.61 0.56 Processing recovery rate (%) 64.3% 53.9% Gold production(1) (oz) 3,384 3,291 Gold sold (oz) 3,500 2,350 Financial (in thousands of US dollars) $ $ Revenue 4,502 3,142 Gross margin from mining operations 1,184 836 Net loss before other items (1,060) (824) Net loss (1,504) (1,442) Cash flows generated from (used in) operations 1,974 (2,115) Working capital 25,030 28,660 Loss per share before other items - basic (US$/share) (0.00) (0.00) Loss per share - basic (US$/share) (0.00) (0.00) Three months ended September 30, 2017 2016 Other US$/oz US$/oz Average realized gold price per ounce sold 1,286 1,337 &...