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VANCOUVER, British Columbia, Jan. 18, 2024 (GLOBE NEWSWIRE) — Monument Mining Restricted (TSX-V: MMY and FSE: D7Q1) (“Monument” or the “Firm”) is happy to announce an replace at Selinsing Gold Mine the place the Firm not too long ago achieved industrial manufacturing of its newly constructed flotation processing plant.
President and CEO Cathy Zhai commented, “We’re more than happy with the continued progress and optimization of the Selinsing Sulphide gold flotation plant. The manufacturing is predicted to be stabilized within the 2024 calendar yr and money movement sustained. Long term off take contracts are in progress. Export permits proceed to be renewed each six months with authorities assist. Gold costs are above the $2,000 per ounce stage within the new yr which is in our favor.”
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Ms. Zhai emphasizes: “In 2024 we’ll present additional coaching to our senior administration with a value-added method to result in wonderful efficiency. Our company focus in 2024 is enterprise growth in Malaysia, Western Australia and elsewhere. We’re positioning Monument to be a totally funded producing firm with upside development potential to understand shareholder worth within the market.”
Determine 1: Selinsing Flotation Plant
Determine 1 is obtainable at https://www.globenewswire.com/NewsRoom/AttachmentNg/2b5c6533-c589-421c-b3bb-2a2f50ee3352
On the opening of this new yr, the manufacturing goal of Selinsing Gold Mine is to streamline and optimize the flotation plant and operations to realize the perfect monetary efficiency. The Firm continues to enhance operational efficiencies by means of consolidating Selinsing working actions and sources, and removing of bottlenecks together with: plant efficiency enhancements, mining cycle harmonization, tailing storage services (TSF) improve, refining the gold focus warehousing, delivery and gross sales course of, and safety enhancements.
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Plant Course of Enhancements
The flotation plant achieved the design capability of 119 tph in early December 2023, nevertheless mill feed price continues to be hampered by the bottleneck on the McLanahan filter press. Current enhancements to the filter press operation have included the set up of stress regulators to cut back the compressed air stress for the core blow and cake dry cycles; the stress discount has actually lowered the frequency of filter fabric failure. Torn filter cloths have been changed as required by native and internationally sourced cloths. Worn filter plates are being repaired regionally and new items have been ordered from the producer and are anticipated to reach at web site in March 2024.
Determine 2. Flotation Management Cabin
Determine 2 is obtainable at https://www.globenewswire.com/NewsRoom/AttachmentNg/1ad6f366-5840-4d9c-9140-02a9541f88f4
Ongoing plant enhancements included an improve to the focus thickener underflow pipeline to the filter press surge tank. One of many focus thickener overflow pumps was changed with an even bigger pump together with a brand new pipeline; a standby pump might be put in as soon as refurbishment work is accomplished. Modifications to the cleaner flotation circuit had been initiated to permit cleansing of the primary rougher focus to supply a cleaner closing focus throughout processing of transition ore varieties.
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Determine 3. Atomic Absorption Spectrometer at Assay Laboratory
Determine 3 is obtainable at https://www.globenewswire.com/NewsRoom/AttachmentNg/4e093972-16f7-49eb-b27a-3ad32fd59e09
Flotation restoration continued to be variable as a result of inconsistent high quality of the transition ores processed. New flocculant was obtained for the water restoration thickener, permitting the flotation circuit to function on the design pH 9.0-9.5. Dosing of the sulphidising agent sodium sulphide continued together with copper sulphate as activator. Some each day recoveries of over 80% and typically 90% had been recorded, with reconciled restoration of 73.6% reported for December 2023.
Development of the focus shed has been accomplished and the lighting energy provide related. Roofing was put in over the rougher and cleaner flotation cells. The one tonne bulk bagging system was delivered to Port Klang and transported to the Selinsing web site. The contract for the brand new flotation tailings hopper was awarded and fabrication initiated; civil works commenced in mid-December 2023 and set up of the tailings hopper and related pipework is scheduled within the 1st week of February 2024.
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The procurement plan and techniques have been tabled for overview specializing in essential spare elements for the sulphide flotation plant and by allocating sources to boost this enchancment with the purpose to keep away from any unexpected stoppage of plant operations.
Mining and Ore Stockpile Buildup
Mining of Buffalo Reef pits continued with Phases 1 and a couple of mined at BRC2 and BRC3 pits and Stage 1 began at BRC4. Supply of recent and transition ore continued and the run of mine (ROM) stockpile was elevated to 255,000 tonnes, which is over three months’ processing plant capability, on the finish of December 2023 and critically forward of the upcoming Northeast monsoon season.
A brand new three-year mining contract was negotiated with the long-term mining contractor Minetech, beginning January 1st, 2024. Ten grade management drilling rigs are presently operational and performing effectively; the Minetech fleet of eight excavators and round forty dump vehicles have proven good availability.
To clean mining cycle, capability of the preparation lab has been reviewed and improved with two new pulverisers put in on the new pattern preparation laboratory. The air flow system has been put in and is below commissioning to enhance the working surroundings and keep away from contamination.
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Routine deliveries of ammonium nitrate emulsion to the Austin Powders explosives depot continued. The positioning-based 13 tonne capability emulsion tanker was changed by a 16-tonne capability unit and blasting was carried out on as much as 5 days per week as required.
Development of the TSF improve resumed in August 2023. Zone A and Zone C fill to 540 mRL was accomplished on the important embankment and the upstream slope was lined with riprap to guard in opposition to erosion. Development of the TSF south embankments was accomplished and riprap positioned on the upstream slopes. The brand new spillway might be constructed in January 2024 adopted by the set up of the seepage sumps and associated pipework on the toe of the primary embankment. The general TSF improve is predicted to be accomplished by February 2024.
Gold Focus Shipments and Gross sales
To this point the flotation plant has produced over 16,000 tonnes of concentrates at a grade of 37 g/t Au. Shipments have been made to a few separate patrons and negotiations proceed with a number of potential new prospects. To this point over 12,500 tonnes of focus have been delivered to Johor and Port Klang Free Zones. Export permits have been renewed with the related state authorities as required. Transport of the most recent supply of three,500 moist metric tonnes to Port Klang Free Zone has been accomplished with vessel to depart in mid-January 2024. Sale of an extra 3,000 tonnes of focus presently accessible has been finalized and cargo preparation of the focus to the port is in progress.
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Warehouse overview and enhancements are ongoing together with tightened up of security measures.
Inventory Compensation
To reward the success of putting the Sulphide Gold Mission into industrial manufacturing, the Firm additionally proclaims that the board has granted below its fairness compensation plans a complete 3.4 million restricted share items and three.8 million incentive inventory choices to its administrators, officers and workers. Every inventory choice is exercisable at a value of $0.145 for a time period of 5 years from the date of grant with a 3 years vesting interval.
About Monument
Monument Mining Restricted (TSX-V: MMY, FSE: D7Q1) is a longtime Canadian gold producer that 100% owns and operates the Selinsing Gold Mine in Malaysia and the Murchison Gold Mission within the Murchison space of Western Australia. It has 20% curiosity in Tuckanarra Gold Mission collectively owned with Odyssey Gold Ltd in the identical area. The Firm employs roughly 250 folks in each areas and is dedicated to the very best requirements of environmental administration, social accountability, and well being and security for its workers and neighboring communities.
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Cathy Zhai, President and CEO
Monument Mining Restricted
Suite 1580 -1100 Melville Road
Vancouver, BC V6E 4A6
FOR FURTHER INFORMATION go to the corporate site at www.monumentmining.com or contact:
Richard Cushing, MMY Vancouver T: +1-604-638-1661 x102 rcushing@monumentmining.com
“Neither TSX Enterprise Change nor its Regulation Providers Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Change) accepts accountability for the adequacy or accuracy of this launch.”
Disclaimer Relating to Ahead-Trying Statements
This information launch consists of statements containing forward-looking details about Monument, its enterprise and future plans (“forward-looking statements”). Ahead-looking statements are statements that contain expectations, plans, targets or future occasions that aren’t historic details and embrace the Firm’s plans with respect to its mineral tasks, expectations relating to the completion of the ramp-up interval to focus on manufacturing stage at Selinsing and the timing thereof, expectations relating to the Firm’s persevering with capacity to supply explosives from suppliers, expectations relating to completion of the proposed storage shed and ammonium nitrate depot and the timing thereof, and the timing and outcomes of the opposite proposed packages and occasions referred to on this information launch. Typically, forward-looking info could be recognized by way of forward-looking terminology akin to “plans”, “expects” or “doesn’t anticipate”, “is predicted”, “finances”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “doesn’t anticipate”, or “believes”, or variations of such phrases and phrases or state that sure actions, occasions or outcomes “could”, “might”, “would”, “would possibly” or “might be taken”, “happen” or “be achieved”. The forward-looking statements on this information launch are topic to numerous dangers, uncertainties and different components that would trigger precise outcomes or achievements to vary materially from these expressed or implied by the forward-looking statements. These dangers and sure different components embrace, with out limitation: dangers associated to normal enterprise, financial, aggressive, geopolitical and social uncertainties; uncertainties relating to the outcomes of present exploration actions; uncertainties within the progress and timing of growth actions, together with these associated to the ramp-up course of at Selinsing and the completion of the proposed storage shed and ammonium nitrate depot; uncertainties and dangers associated to the Firm’s capacity to supply explosives from suppliers; international operations dangers; different dangers inherent within the mining trade and different dangers described within the administration dialogue and evaluation of the Firm and the technical stories on the Firm’s tasks, all of which can be found below the profile of the Firm on SEDAR at www.sedar.com. Materials components and assumptions used to develop forward-looking statements on this information launch embrace: expectations relating to the estimated money price per ounce of gold manufacturing and the estimated money flows which can be generated from the operations, normal financial components and different components that could be past the management of Monument; assumptions and expectations relating to the outcomes of exploration on the Firm’s tasks; assumptions relating to the longer term value of gold of different minerals; the timing and quantity of estimated future manufacturing; assumptions relating to the timing and outcomes of growth actions, together with the ramp-up course of at Selinsing and the completion of the proposed storage shed and ammonium nitrate depot; expectations that the Firm will proceed to have the ability to supply explosives from suppliers in a well timed method; prices of future actions; capital and working expenditures; success of exploration actions; mining or processing points; change charges; and the entire components and assumptions described within the administration dialogue and evaluation of the Firm and the technical stories on the Firm’s tasks, all of which can be found below the profile of the Firm on SEDAR at www.sedar.com. Though the Firm has tried to determine necessary components that would trigger precise outcomes to vary materially from these contained in forward-looking statements, there could also be different components that trigger outcomes to not be as anticipated, estimated or supposed. There could be no assurance that such statements will show to be correct, as precise outcomes and future occasions might differ materially from these anticipated in such statements. Accordingly, readers shouldn’t place undue reliance on forward-looking statements. The Firm doesn’t undertake to replace any forward-looking statements, besides in accordance with relevant securities legal guidelines.
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