Resource World Magazine

d e c e m b e r / j a n u a r y 2 0 1 6 www.resourceworld.com 47 a u s t r a l i a n u p d at e G r e g B a r n s I t is a tough market for resource stocks with base metal prices in the doldrums. But for gold producers, and those with gold as part of a polymetallic play, the world is a little brighter. If a company has assets in low risk jurisdictions then inves- tors might like to take a look. monument mining Ltd. [MMY-TSXV; D7Q1-FSE] is a case in point. The company has assets in Malaysia where it is producing gold and developing a polymetallic project and in the gold-rich Murchison area of Western Australia where it is looking to develop gold projects. Monument Mining's current cash gen- erator is the Selinsing Gold Mine about a two hours' drive from Kuala Lumpur, capi- tal of Malaysia, in Pahang State, the largest gold producing state in the country. This project has been in production since 2010 and in the year ended June 30, 2015 it pro- duced 36,473 oz gold at a cash cost of US $587/oz (2014 – US $613/oz). For September 29, 2015 fiscal year, 2015 total production costs decreased by $3.35 million in fiscal 2015 to $28.95 million, compared to $32.30 million in fiscal 2014. The decrease resulted primarily from lower mining and processing costs, a higher gold recovery rate and a weaker Malaysia Ringgit compared to the US dollar. To extend Selinsing Mine life, Monument built an Intec Pilot Plant as a part of the Intec Trial Testing Program to exploit Intec's sulphide dissolution and gold recovery technology using the exist- ing Selinsing gold processing plant. Monument is also advancing the 100%- owned Mengapur polymetallic project 130 km southeast of Selinsing Mine where it is conducting metallurgical studies of the cop- per-gold- silver deposit. Historical resources of 224 million tonnes averaging 0.597% copper equivalent will be updated. Meanwhile, in Western Australia, Monument hopes to start production at its Burnakura gold project, 760 km north- east of Perth, by July 2016. The project is part of its' Murchison gold project that includes the Gabanintha and Tuckanarra gold properties. Burnakura has two deposits – Alliance and New Alliance. Resource estimates for these deposits are 98.4 k oz grading 1.6 g/t gold indicated and 4.4 k oz at 1.5 g/t inferred. The company is fast track- ing mine development having completed crushing trial tests and heap leach engi- neering. Monument is exploring to extend successes at Alliance and New Alliance and confirm continuity. Monument Mining CEO, Robert Baldock, told Resource World, "confirma- tion of historic resources (at Buranakura) and generating exploration targets after understanding the project took longer than estimated. Monument first wants to increase the project resources and then focus on engineering, construction of a heap leach facility; both objectives are now underway. The company has established a profes- sional exploration team able to achieve that increase in resources and the first NI 43-101 report has been filed On the mining and production side we are now working to establish the heap leach operation as indicated in our September 28 news release. The mill and processing plant has been reviewed and is on standby and ready for start up." n MoNUMeNT MINING: gold producer with a polymetallic project * Resource World does not sell your information to third parties 709-700 W Pender st., Vancouver bc V6c 1G8 canada Name aDDreSS CitY prov. poStal CoDe pHoNe e-mail online at www.resourceworld.com or phone 1.877.484.3800 SAVE 50% up to resource World (print and Digital edition) 1 Year ($19.95) resource World (Digital edition) 1 Year ($9.95) resource World (Digital edition) 2 Years ($14.95) resource World (print and Digital edition) 2 Years ($24.95) international resource World (print) 1 Year ($89.00) renew my subscription canadian subscribers please add applicable sales tax

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