Business
Monument Reports Second Quarter Fiscal 2017 Results
VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 1, 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 - March 1, 2017) - Monument Mining Limited (TSX VENTURE:MMY)(FRANKFURT:D7Q1) \"Monument\" or the \"Company\" today announced its second quarter production and financial results for the three and six months ended December 31, 2016. 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 second quarter fiscal 2017 financial results: \"The Company continued to focus on the near-term corporate objectives. At Selinsing, we completed the Prefeasibility Study, plan for construction of a Phase IV Sulphide circuit and exploration programs to increase sulphide gold inventory. At Murchison, we continue to implement the early stage production plan and have transported the crushing circuit equipment to the mine site in preparation for assembly.\" Second Quarter Highlights: 3,841oz of gold sold for gross revenue of $4.64 million (Q2 fiscal 2016: 5,100oz sold for $5.68 million); 2,888oz of gold produced (Q2 fiscal 2016: 5,050oz); Cash generated from operating activities of $1.55 million (Q2 fiscal 2016: $0.81 million); Cash cost per ounce (\"oz\") of $840/oz (Q2 fiscal 2016: $639/oz); Ore processed 206,597 tonnes (Q2 fiscal 2016: 254,413 million tonnes); Completed the NI 43-101 Technical Report on Prefeasibility Study at Selinsing/Buffalo Reef Project; Initiated a stock reclaim campaign to process higher grade leachable sulphide ore; Independent test review continued in parallel with in-house optimization for sulphide treatment at Selinsing; and The long lead equipment refurbished for Burnakura gold processing plant arrived at the site ready for installation. Second Quarter Production and Financial Highlights Three months ended December 31, Six months ended December 31, 2016 2015 2016 2015 Production Ore mined (tonnes) 18,205 96,602 80,086 201,929 Ore processed (tonnes) 206,597 254,413 437,596 486,531 Average mill feed grade (g/t) 1.12 0.83 0.83 0.89 Processing recovery rate (%) 62.33% 63.50% 59.31% 70.42% Gold recovery (oz) 4,634 4,320 6,887 9,8...