VANCOUVER, British Columbia, September 30, 2022 (GLOBE NEWSWIRE) — Monument Mining Limited (TSX-V: MMY and FSE: D7Q1)monument” or “Companyis pleased to announce today that it has begun earning royalties from Fortress Minerals Limited (“Fortress”) on the Mengapur Project. Pursuant to the terms of the royalty agreement entered into with Fortress in January 2021, the Company will pay his 1.25% initial royalty on his US$1.2 million gross revenue declared by Fortress. Earned. The Mengapur project has commenced production of iron ore concentrate on 1 July 2022.
Monument spun out the Mengapur Project in April 2021, paying US$30,000,000 in cash and a royalty of 1.25% of gross proceeds on all products produced by the Mengapur Project. The spin-out was part of a corporate restructuring in which the company is focusing on developing its gold portfolio in Malaysia and Western Australia.
Cathy Zhai, President and CEO, commented:
Monument Mining Limited (TSX-V: MMY, FSE: D7Q1) is a well-established Canadian gold producer who owns and operates the Selingsing Gold Mine in Malaysia and the Murchison Gold Project in the Murchison region of Western Australia. He has a 20% interest in the Tuckanarra Gold Project, co-owned with Odyssey Gold Ltd in the same region. The company employs approximately 200 people in both regions and is committed to the highest standards of environmental management, social responsibility, health and safety of its employees and neighbors.
President and CEO Kathy Zai
Monument Mining Limited
Suite 1580-1100 Melville Street
Vancouver, BC V6E 4A6
|For more information, please visit the company’s website at www.monumentmining.com or contact us at:|
|Richard Cushing, MMY Vancouver||Phone: +1-604-638-1661 x102||[email protected]|
“Neither the TSX Venture Exchange nor its regulated service providers (as those terms are defined in the TSX Venture Exchange Policy) are responsible for the adequacy or accuracy of this release.”
This news release contains statements that contain forward-looking information regarding Monument, its business and future plans (“forward-looking statements”). Forward-looking statements are statements about expectations, plans, objectives, or future events that are not historical facts and do not reflect our plans for mineral projects and the proposed programs and events referred to in this news release. Includes timing and results. Forward-looking information is generally disclosed using forward-looking terms such as “plans,” “expects,” “does not expect,” “expects,” “budget,” “planned,” and “estimate.” can be identified using “predict,” “intend,” “predict,” “do not predict,” or “believe,” or variations of such words or phrases, or that a particular action, event, or outcome “may” ‘, ‘could’, ‘could’, ‘could’, ‘may’ or ‘obtained’, ‘occurred’ or ‘achieved’. The forward-looking statements contained in this news release are subject to various risks, uncertainties and other factors; therefore, actual results or achievements may not be expressed or implied by the forward-looking statements. may differ significantly from These risks and certain other factors include, but are not limited to: risks associated with general business, economic, competitive, geopolitical and social uncertainties; uncertainty about the outcome of current exploration activities; uncertainty about the progress and timing of development activities; risks of foreign operations, including risks related to changes in mining license rights, tax rates and government royalty requirements; Other risks inherent in the mining industry and described in our management’s discussion and analysis and technical reports on our projects. All of this is available in his SEDAR company profile at www.sedar.com. Significant factors and assumptions used in making the forward-looking statements in this news release include: the estimated cash cost per ounce of gold production and the potential Expectations regarding certain projected cash flows, general economic factors and other factors that may arise. Outside the control of the monument. assumptions and expectations regarding the exploration results of our projects; assumptions about the future price of gold in other minerals; the timing and amount of projected future production; the expected timing and outcome of development and exploration activities; costs of future activities; capital and operating expenditures; the success of exploration activities; mining or processing issues; currency exchange rates; anticipated mining rights, tax rates and government royalty requirements in the jurisdictions in which we operate; Also, discussions and analysis of our management and all factors and assumptions set forth in our technical reports on our projects. All of these are available under our company profile for SEDAR at www.sedar.com. We have attempted to identify important factors that could cause our actual results to differ materially from those contained in the forward-looking statements, but we do not believe that they could cause results to differ materially from those anticipated, estimated or intended. There may be other factors that There can be no assurance that such statements will prove to be accurate, as actual results or future events could differ materially from those projected in such statements. You should not place undue reliance on forward-looking statements. We do not undertake to update any forward-looking statements, except in accordance with applicable securities laws.
Monument Receives First Iron Ore Enrichment Royalty, Canadian Business Journal
Source link Monument Receives First Iron Ore Enrichment Royalty, Canadian Business Journal