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Monument Mining Reports Second Quarter Fiscal 2020 Results
VANCOUVER, British Columbia, Feb. 28, 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, Feb. 28, 2020 (GLOBE NEWSWIRE) -- Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) “Monument” or the “Company” today announced its second quarter production and financial results for the three months ended December 31, 2019. 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 2020 financial results: “Our second quarter production was in line with last year’s same quarter, it has brought total year to date production to 9,679 ounce of gold higher than 7,961 ounces of gold in the same period of the last fiscal year. Additionally, the Peranggih area continues to be a target for mining pending results of bulk sample test work. Haul road construction was primarily completed during the quarter and trial mining commenced subsequent to the end of the second quarter”. Ms. Zhai further commented: “In the second quarter at Murchison, a preliminary drilling plan was delivered, targeting down plunge of existing mineralization at the Burnakura and Gabanintha projects. Drilling commenced by the end of February 2020, subsequent to the end of the second quarter”. Second Quarter Highlights: 4,473oz of gold sold for gross revenue of $6.6 million (Q2 2019: 4,600oz for $5.66 million); Average realized price per ounce (“oz”) excluding prepaid gold sales of $1,486/oz (Q2 2019: $1,231/oz); Cash cost per ounce (“oz”) of $903/oz (Q2 2019: $686/oz); All-in sustaining cost per ounce (“AISC”) of $1,135/oz (Q2 2019: $965/oz); 4,827oz of gold produced (Q2 2019: 4,653oz); Gross margin of $2.57 million (Q2 2019: $2.51 million); Majority haul road construction advanced for Peranggih trial mining; Additional six anomalous zones identified with strong association of Au, As, Sb, W and Mo at Peranggih. Drilling target at Murchison selected and drilling commenced subsequent to the second quarter end. Second Quarter Production and Financial Highlights Three months endedDecember 31, Six months ended December 31, 2019 2018 2019 2018 Production Ore mined (t) 88,255 56,734 135,052 87,039 Ore processed (t) 215,305 241,925 449,080 478,730 Average mill feed grade (g/t) 0.98 0.88 ...