From GlobeNewswire: 2024-11-27 22:05:00

Monument Mining Limited reported financial results for Q1 FY 2025, with $17.88 million in cash reserves, $9.68 million increase from Q1 FY 2024. The company achieved a net profit of $3.00 million, with 8,059 ounces of gold produced and 9,270 ounces sold at an average realized price of $2,535/oz.

Selinsing Gold Mine saw ongoing development with near mine resources and drilling targets evaluation for life of mine expansion. Mining activities focused on Buffalo Reef and Felda Block 7, with production sustainability efforts.

Monument Mining Limited’s Q1 FY 2025 gold sales generated revenue of $19.37 million, with a gross margin of $11.61 million from mining operations. Net cash generated from operations was $9.68 million, reflecting a strong net working capital position of $24.72 million.

Mining activities continued at Selinsing Gold Mine and Murchison Gold Project, with focus on plant improvements and development work. The company also engaged in exploration activities in Malaysia and Western Australia for life of mine expansion and potential production restart.

Monument Mining Limited is an established Canadian gold producer with operations in Malaysia and Western Australia. The company is committed to environmental management, social responsibility, and employee health and safety. For further information, visit www.monumentmining.com or contact Richard Cushing at [email protected].



Read more at GlobeNewswire:: Monument Reports First Quarter Fiscal 2025 Results