Business
Monument Pours First Gold from Gravity Circuit
Monument Pours First Gold from Gravity Circuit
About this update from Monument Mining Limited
[{"type":"text","content":"\nMonument Pours First Gold from Gravity Circuit\n\n\n Nov. 4, 2009 (Filing Services Canada) -- Monument Mining Ltd. (MMY - TSX Venture, D7Q1 - FWB), \"Monument\" or the \"Company\" announces that it has poured the first gold from the newly commissioned gravity circuit of the 1200 tpd gold treatment plant at its wholly owned Selinsing Gold Project located in Pahang State, Malaysia. The Selinsing Gold Project was acquired by the Company in June 2007. Since then the Company has been developing the open pit gold mine together with building a 1,200 tpd gold treatment plant in two construction phases, and commenced mining in July 2009. Commissioning of the Phase I gravity circuit commenced in August 2009 with the first gold pour occurring in October 2009. The Company now continues to operate and optimize the performance of the Phase I gravity circuit in conjunction with the construction of the Phase II carbon in leach circuit (\"CIL circuit\"). The Selinsing Gold Project currently has a work force of over 120 trained employees and mine contractors on site.Robert Baldock, President and CEO of Monument Mining states, \"We are very pleased to announce the fast track completion of construction of Phase I of the Selinsing gold treatment plant, less than 28 months after the property acquisition. Phase I was completed on budget and Phase II is expected on target for completion by the end of December 2009. This first gold pour is an event of great importance in the development and growth of the Company and is a testament to the experienced hard working team at Monument Mining.\" (Photographs of the first gold pour are available on the company's website at www.monumentmining.com in the photo gallery section).Monument is 100 per cent unhedged and will be selling gold production into the market during a period of historically high gold prices to help fund Phase II construction.With the planned commissioning of Phase II of the gold processing plant in December 2009, the project will ramp up to the full circuit production capacity of 40,000 ounces per year. Robert F. Baldock, President and CEOMonument Mining LimitedSuite 490- 688 West Hastings StreetVancouver B.C. Canada V6B 1P1For further information contact: North America:\t\t\t Richard Cushing, Investor Relations Office: 604.638.1661 Cell: 604.889.6563\t\t E-mail: [email protected] \t We...