Business
Monument Mining Reports Second Quarter Fiscal 2018 Results
VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 1, 2018) - 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 - March 1, 2018) - Monument Mining Limited (TSX VENTURE:MMY)(FRANKFURT:D7Q1) \"Monument\" or the \"Company\" today announced its second quarter production and financial results for the three months ended December 31, 2017. 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 second quarter fiscal 2018 financial results: \"The Company continued to build on its development foundation at its Malaysian and Western Australian gold portfolios. At Selinsing, we commenced gold production at Felda Block 7, announced encouraging results from the drilling program at Peranggih North, and continued the Front End Engineering Design (\"FEED\") study for the Sulphide Project. At Murchison, mine optimization at Burnakura progressed, as well as the Preliminary Economic Assessment (\"PEA\") for the life of mine areas including an underground mining study.\" Second Quarter Highlights: 3,900oz of gold sold for gross revenue of $4.98 million (Q2 fiscal 2017: 3,841oz of gold sold for gross revenue of $4.64 million); 4,151oz of gold produced (Q2 fiscal 2017: 2,888oz); Cash cost per ounce (\"oz\") of $805/oz (Q2 fiscal 2017: $840/oz); Commenced Felda Block 7 gold production at Selinsing; Entered $7.00 million gold forward sale transaction; Announced results from the close spaced drilling program at Peranggih North, 10km north of Selinsing; FEED study being carried out on Selinsing to deliver an Implementation Execution Plan for the Sulphide Project; and PEA being carried out on Burnakura. Second Quarter Production and Financial Highlights Three months ended December 31, Six months ended December 31, 2017 2016 2017 2016 Production Ore mined (tonnes) 85,214 18,205 116,785 80,087 Ore processed (tonnes) 219,548 206,597 441,084 437,596 Average mill feed grade (g/t) 1.00 1.12 0.81 0.83 Processing recovery rate (%) 72 % 62 % 69 % 59 % Gold production(1) (oz) 4,151 2,888 7,535 6,179 Gold sold (oz) 3,900 3,841 7,400 6,191 &n...