Monument Mining’s (TSXV:MMY) President and CEO, Cathy Zhai, joined The Market Herald’s Brieanna McCutcheon at PDAC 2022 to share exciting news about its Selinsing Gold Property near Kuala Lumpur.
The company is planning to process sulphide ore into gold concentrate at Selinsing by January 2023 with a projected life of mine of six years.
A processing plant is finalized and almost ready to capitalize on gold resources of 880,000 ounces and reserves of 267,000 ounces at 1.45 grams per tonne.
Drilling at its Murchison Gold Property in Australia is also underway exploring a historical resource of 644,000 ounces and a recently reported resource of 293,000 ounces. The company’s latest assay results from drilling include a substaintal grade of 32 grams of gold per tonne over 4.00 metres.
Monument’s main focus is to top up its gold inventory and production capabilities, as well as evaluate potential acquisition opportunities to enhance shareholder value. Zhai intends to identify potential targets while at PDAC for future due diligence.
The company stated it already has interested buyers for its gold concentrate as it prepares to ramp up production. This is in line with Zhai’s strong short-term outlook for the price of gold, which she sees potentially topping out around US$2,000 per ounce from current levels.
