Business
Monument to Extend Term of 68 Million Warrants
Feb. 2, 2011 (Filing Services Canada) -- Monument Mining Ltd. (MMY - TSX Venture, D7Q1 - FWB), ...
About this update from Monument Mining Limited
[{"type":"text","content":"\nMonument to Extend Term of 68 Million Warrants\n\n\n Feb. 2, 2011 (Filing Services Canada) -- Monument Mining Ltd. (MMY - TSX Venture, D7Q1 - FWB), announces that it has made an application to the TSX Venture Exchange (the \"TSXV\") to extend the term of 68,055,000 common share purchase warrants.  Subject to the acceptance of the TSXV, the term of these warrants will be extended for another 12 months, from an expiry date of July 21, 2011 to an expiry date of July 21, 2012. The Company closed a $28,048,000 private placement on July 21, 2008 by issuing of 70,120,000 units at a price of $0.40 per unit, each unit being comprised of one common share of the Company and one common share purchase warrant.  Each of these warrants entitled the holder to purchase one additional common share of the Company for a price of $0.50 until July 21, 2011.  As of the date of the Company's application to the TSXV, 2,065,000 of these warrants have been exercised, leaving 68,055,000 warrants unexercised. About Monument Mining Limited                       Canadian based Monument Mining Limited has two wholly-owned principal properties: Selinsing Gold Mine Project (\"Selinsing\"); and Damar Buffalo Reef Prospect (\"Buffalo Reef\"); which are located in Pahang State in the Central Gold Belt District of Malaysia. In addition, the Company recently acquired the Famehub properties comprising 32,000 acres of highly prospective exploration land.In conjunction with extensive exploration programs at Selinsing, Buffalo Reef and the Famehub properties, the Selinsing Gold Mine is scheduled to produce approximately 40,000 ounces of gold in its first year at an estimated average operating cash cost of approximately $317 per ounce with an initial five year mine life. The gold treatment plant has a current capacity of 400,000 tpa with a proposed capacity expansion through the addition of an additional milling circuit to the existing plant. Please visit our website at www.monumentmining.com for more information.Robert F. Baldock, President and CEOMonument Mining LimitedSuite 910, 688 Hastings StreetVancouver B.C. Canada V6B 1P1 CanadaFor further information contact: Monument Mining Limited Richard Cushing Investor Relations (Tel) ...