The Santa Claus Rally, one of the more well-known stock market trends, tracks how stocks, broadly speaking, tend to experience a boost in the week after Christmas, with the S&P 500 up 79 per cent of the time going back to 1950, averaging about a 1.3 per cent return.
While there’s no direct correlation between market momentum and St. Nick’s yearly flight from the North Pole – similar to the January Effect, Sell in May, Go Away, The Halloween Indicator and the September Effect – it does open the door for investors to align themselves with a period of historically optimistic sentiment, picking stocks that already find themselves in a data-driven ascent likely to continue well after the elves pack it up for the year.
Canadian-based Monument Mining (TSXV:MMY), market capitalization C$362.36 million, is one such stock, thanks to a gold exploration and production portfolio spanning Malaysia and Australia, that has rewarded investors with a 275 per cent return year-over-year, rising to 1,212.50 per cent since 2020, backed by a history of diligent development.
The company’s 100-per-cent owned and operated Selinsing mine in Malaysia, 158 kilometres north of Kuala Lumpur, has been in production since 2010, generating more than 425,000 ounces as of September 2025 from an NI 43-101-compliant resource of 880,000 ounces, plus 267,000 ounces in proven and probable reserves, with a more than 150-square-kilometre land package offering multiple avenues for mineral expansion.
Thanks to a new sulphide plant commissioned in 2023, quarterly production at Selinsing has grown by 6x from just over 2,000 ounces in Q1 2023 to more than 12,000 ounces in Q3 2025, proving leadership’s ability to build cash flow during gold’s record ascent to more than US$4,200 per ounce, which CIBC Capital Markets expects to continue through 2027, touching US$4,500 per ounce.
Drilling at Selinsing is ongoing, delivering highlight intercepts of 22 m at 0.86 grams per ton (g/t) of gold and 7 m at 4.79 g/t gold from the first 16 of a 118 drillholes planned through June 2026, with leadership seeing the potential to develop a new open-pit mine.
Meanwhile, Monument’s Murchison portfolio in Western Australia, including the Burnakura, Gabanintha and 20-per-cent-owned Tuckanarra projects, houses more than 1 million ounces of gold in historic and compliant resources in a broader region that has yielded more than 15 million ounces to date. The company’s trio of projects, surrounded by multi-million-ounce deposits, are highlighted by:
- A potential production restart at Burnakura, which features a plant on site expandable up to 750,000 tons per year and more than 20 kilometres of under explored strike length.
- Gabanintha’s 6 historical open pits with high grade intersections open at depth, in addition to 30 regional exploration targets.
- Tuckanarra’s updated resource estimate of 407,000 ounces announced in February 2024, including 62,000 ounces indicated grading 2.4 g/t and 345,000 ounces inferred grading 2.5 g/t.
Monument intends to spin its drills at Burnakura in the near future, following up on recent robust intercepts, including 3 m at 10.2 g/t gold and 4 m at 32 g/t gold, to grow resource inventory and add conviction to a production re-start to harvest value from record gold prices.
The company, currently debt free, has grown its cash position to US$62.84 million as of Q1 fiscal 2026 ending September 2025, posting net income of US$45 million over the trailing twelve months, granting investors a solid foundation for operational leverage above fluctuations in the gold price.
With only 169,000 tons of ore processed at Selinsing during the quarter – out of a yearly capacity of 950,000 tons – at all-in sustaining costs of only US$1,037 per ounce sold, look for Monument Mining to continue capitalizing on its position of financial strength, modifying production in line with gold demand and fostering shareholder value through the Santa Claus Rally into 2026 and beyond.
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