Monument Mining Limited announced financial results for Q1 FY 2026, with a net income of $10.50 million and a gross margin of $22.43 million. Cash reserves increased to $62.84 million, supporting ongoing exploration and mine expansion at Selinsing Gold Mine in Malaysia and the Murchison Gold Project in Western Australia.
During Q1 FY 2026, 13,092 ounces of gold were produced, generating $32.40 million in gross revenue. Cash cost per ounce sold was $888, and all-in sustaining cost per ounce was $1,037, a 7% decrease from Q1 FY 2025. The Company ended the quarter with $62.84 million in cash and $69.55 million in working capital.
At Selinsing Gold Mine, various developments were undertaken, including geotechnical investigations, drone mapping of the TSF, and upgrading of plant facilities. Exploration drilling programs were also conducted at both Selinsing and Murchison Gold Project, focusing on mine expansion areas and potential early production opportunities.
In terms of production, the sulphide flotation plant at Selinsing Gold Mine processed 239,447 tonnes of ore, producing 13,092 ounces of gold. Mining activities focused on Buffalo Reef and Felda Block 7, resulting in a 23% increase in ore mined compared to the previous year. The Company also made improvements to the processing plant, increasing output and recovery rates.
Revenue from gold sales in Q1 FY 2026 reached $32.40 million from 11,227 ounces sold at an average price of $3,498 per ounce. The Company’s gross margin increased by 93% compared to the previous year. Net cash generated from operations was $19.19 million, demonstrating strong financial performance and growth potential for Monument Mining Limited.
Exploration activities continued in Malaysia and Western Australia, with a focus on mine expansion areas and potential resource extensions. The Company remains committed to responsible mining practices and environmental management. Monument Mining Limited aims to sustain its production growth and enhance shareholder value through ongoing exploration and development efforts.
Read more at GlobeNewswire: Monument Reports First Quarter Fiscal 2026 Results