Australia's junior explorers - The ASIA Miner

MONUMENT Mining was confident of completing
work on the phase III gold plant expansion
at the Selinsing project by the end of June. The
company says the expansion will allow it to
boost annual processing capacity at the pr oject
in central Malaysia to 1 million tonnes.
The facility provides flexible treatment options
for variable ore types. The construction
budget totalled Can$8 million and the company
estimates pay back from operating cash
flow in three months.
Gold production during the March quarter
was 10,676 ounces compar ed to 11,904
ounces for the same quarter in the pr evious
fiscal year. The average r ealized price per
ounce of gold sold was $1698 during the
quarter compared to $1,404 for the corr esponding
quarter in the pr evious fiscal year,
an increase of 21%.
Monument’s CEO and pr esident Robert
Baldock says, “The total production decreased
about 9% when compar ed both to the
2011 corresponding quarter and the December
quarter. This was mainly due to lower mill
feed grade and a lower processing recovery
Selinsing expansion to boost processing rates
Construction of the phase III expansion at Monument Mining’s Selinsing Gold Project.
rate. The total production level is expected to
rise when the plant capacity is incr eased as
part of the expansion.”
Along with the lower pr oduction, gold income
decreased by more than $1.865 million
to $8,430,279, net of operating and corporate
expenses. The decline was partially of f-
Malaysia
set by higher gold prices. There was total revenue
of $12.4 million generated fr om gold
sales of 7301 ounces.
Exploration at the company’s properties in
the nine months to March 31 produced 8356
drill metres of which 4566 drill metr es were
completed during the March quarter.
July/August 2012 | ASIA Miner | 41