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Monument Mining Reports Fiscal Q3 2017 Results
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 29, 2017) - Monument Mining Limited (TSX VENTURE:MMY) (FRANKFURT:D7Q1) "Monument" or the "Company" today announc
About this update from Monument Mining Limited
[{"type":"text","content":"VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 29, 2017) - Monument Mining Limited (TSX VENTURE:MMY) (FRANKFURT:D7Q1) \"Monument\" or the \"Company\" today announced its production and financial results for the three and nine months ended March 31, 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 third quarter fiscal 2017 financial results: \"The Company focused on financing the Burnakura early stage gold production to generate cash flow and completion of Felda Land acquisition commencing oxide production in the first quarter of fiscal year 2018, and fast tracking the Selinsing Sulphide Project with producing an execution plan for construction. At Selinsing, with the release of the pre-feasibility study by Snowden in December 2016, and the recent commencement of the Front End Engineering Design (the \"FEED\") work, we are progressing towards an internal Definitive Feasibility Study (the \"DFS\") for the Sulphide pre-treatment plant. At Murchison, early stage production development activities continued with completion of a third party technical report that found no major flaws. The Company is seeking disciplined funding for these projects and gold project acquisition opportunities with a potential combination of equity and debt.\" Third Quarter Highlights: 3,359oz of gold sold for gross revenue of $3.99 million (Q3 fiscal 2016: 3,850oz sold for $4.46 million); 3,442oz of gold produced (Q3 fiscal 2016: 3,875oz); Cash cost per ounce (\"oz\") of $857/oz (Q3 fiscal 2016: $665/oz); Ore processed 0.21 million tonnes (Q3 fiscal 2016: 0.26 million tonnes); A FEED study has been carried out on Selinsing after filing of the Pre-feasibility Study for the Sulphide Project; and Operational readiness and due diligence concluded in an Independent Technical Report at the Burnakura Gold Project. Third Quarter Production and Financial Highlights Three months ended March 31, Nine months ended March 31, 2017 2016 2017 2016 Production Ore mined (tonnes) 68,568 110,138 148,655 312,067 Ore processed (tonnes) 210,518 264,159 648,115 750,690 Average mill feed grade (...