Monument's 2011 Fourth Quarter Production and Sales Results

About this update from Monument Mining Limited

[{"type":"text","content":"\n\n\n\n\nGross Sales of $16.6 M from 10,936 Oz Gold Sales\n\nVANCOUVER, Aug. 8 /CNW/ - Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) \"Monument\" or the \"Company\" today reports its fourth quarter production results for the quarter ended June 30, 2011. Full financial and operating results for the year will be released by the end of September 2011. All amounts are in United States dollars unless otherwise indicated.\n\n\n \n Twelve Quarter Quarter Quarter Quarter Twelve\n months, 1, 2, 3, 4, months,\n Jun. 30, Sep. 30, Dec. 31, Mar. 31, Jun. 30, Jun. 30,\n 2010 2010 2010 2011 2011 2011\n -------------------------------------------------------------\n Mining\n Ore Mined\n (tonnes) 662,330 203,150 159,681 140,736 237,341 740,908\n Waste\n moved\n (tonnes) 2,326,502 615,937 649,584 741,109 700,968 2,707,598\n Ore\n Stockpiled\n (tonnes) 387,545 499,589 570,719 623,130 773,432 773,432\n\n Process\n Crushed ore\n (tonnes) 274,786 91,106 88,552 88,325 87,038 355,021\n Ore\n Processed\n (tonnes) 272,120 89,834 87,845 87,780 86,540 351,999\n Average\n mill feed\n grade (g/t) 3.08 4.08 4.41 4.18 4.58 4.32\n Processing\n recovery\n rate 58.7% 90.0% 93.7% 93.7% 94.1% 92.9%\n Ball mill\n availability\n (%) 89.2% 94.6% 96.1% 97.1% 96.6% 96.1%\n\n Sales\n Gold\n produced\n (oz) 13,793 9,050 11,348 11,904 12,136 44,438\n Gold Sold\n (oz) 13,793 8,650 10,148 10,704 10,936 40,438\n Revenue\n (in 000's)\n (1) $16,316 $10,863 $14,115 $15,031 $16,618 $56,627\n Average\n realized\n gold price\n per ounce $1,183 $1,256 $1,391 $1,404 $1,520 $1,400\n\n (1) Prior to achieving commercial production in September 2010, gold\n sales and related production costs were capitalized against the\n Selinsing Gold Property and construction of the gold treatment plant.\n \n\n\nMr. Robert Baldock, the CEO and President of Monument stated: \"The quarter four production results from Selinsing Gold Mine continue the trend of steady plant operation with increased mining tonnage.\nThe Company's fiscal 2011 gold production result of 44,438 ounces represents an 11% increase on our annual budget. This gold production was derived from an annual processing plant throughput of 351,999 tonnes with a gold processing recovery rate of 92.9%. Encouragingly, the recovery rate represents a 7% increase on the projected rate of 87.0% reported in the NI43-101 report published in No...

More updates from Monument Mining Limited