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News Article | May 10, 2017
Site: www.realwire.com

Assured cloud services firm also releases research revealing public concern regarding privacy consent and the storage of personal data, including medical records London – 10 May 2017 – UKCloud, the easy to adopt, easy to use and easy to leave assured cloud services company, has today announced the launch of a new division, UKCloud Health, which will deliver an open, collaborative and UK sovereign public cloud platform specifically to the healthcare industry, supporting health and care organisations, research and life sciences and pharmaceuticals. The launch comes as research shows that 75 percent of UK adults are concerned about the protection of their personal data, including medical records, by companies and public services. * UKCloud Health launches today with 29 partners and 30 customers, including Genomics England and the Devon Partnership NHS Trust. The initial UKCloud Health launch partners are Activ8rlives, Advice Cloud, Arctick, babylon, Brisskit (Red Informatics Ltd), Capgemini, Cinos Communications Services, Carelink, Cimar, CloudHub 360, Contract Sentinel, Digital Healthcare Management, Differentis, Docman, Egton, Fujifilm, Intec for Business, Informatica Systems, iSite, Rescon, MyLife Digital, MDS Technologies, Open Medical, Operon, PretaGov, Regify, RIVIAM Digital Care, Siemens Healthineers and Wiggly-Amps. The new division is also supported by a dedicated Advisory Board of prominent industry leaders, including Lord Paul Drayson, former Minister of State for Science and Innovation; Rachel Neaman, former Department of Health Digital Leader; and Cathrin Petty, European head of healthcare at CVC Capital Partners. “To date, we’ve focused on developing a unique cloud platform exclusively to meet the needs of the UK public sector, with great success,” said Simon Hansford, CEO of UKCloud. “We’re now looking to replicate our business model with a new division exclusively focused on the healthcare sector, where cloud adoption rates are typically impeded by a host of different challenges.” The award winning UKCloud platform has driven unprecedented success, powering more than 200 UK public sector projects to date. As a prominent supplier to the G-Cloud Framework and the UK Government’s Digital Marketplace, UKCloud has cemented its position as a public sector specialist, with unique industry knowledge and expertise. UKCloud believes that now is the ideal time to deliver its assured, open and collaborative platform for not only the NHS, but also for private healthcare providers; biomedical companies, research institutions and pharmaceutical companies. The interoperability of UKCloud’s Health platform provides an online community enabling open data sharing. As Hansford explained: “Vast quantities of data are generated by research institutions and companies, and as that research moves into product or drug development, yet more data is generated through trials, for instance. Once medication, procedures or devices are approved – which produces even more data – they reach the NHS and other mainstream health providers, where more data is generated and fed back through iterative cycles to the research institutions and pharmaceutical companies. We believe that providing a central, secure, open and collaborative cloud platform, where all of this data can be stored and appropriately shared, will provide a great deal of value to the healthcare industry as a whole.” The healthcare sector not only faces significant funding and efficiency gaps. An added challenge is patient trust when it comes to the security of their personal data. Hansford added: “There is undoubtedly a significant trust issue when it comes to the public perception of the security of highly sensitive data in the cloud. We pride ourselves on offering the highest possible levels of assurance and believe the ‘one-size-fits-all’ approach offered by US headquartered generalist cloud platforms is not appropriate for specialised sectors such as healthcare, where issues of trust, privacy and interoperability are particularly important. This is evident in recent research, which reveals that 82 percent of British adults believe that the Government should seek permission before storing and processing personal data with non-UK businesses.” * UKCloud works with Genomics England on the ground-breaking 100,000 Genomes Project, which aims to being genomic medicine into mainstream healthcare. Data security is of paramount importance to this Project and UKCloud’s track record of providing UK cloud services provider with the highest possible levels of resilience and security was an important factor in Genomics England choosing to partner with them. UKCloud Health is committed to supporting digital transformation across the healthcare sector. Together with its dedicated partners, UKCloud Health offers industry leading expertise regarding the sector’s core requirements, from protecting the privacy of Patient Identifiable Data to enabling collaboration across government networks, such as N3, HSCN, Janet and PSN. * Research conducted by ComRes for UKCloud Health; 2,044 UK adults were interviewed aged 18+ online between 26-27 April 2017. About UKCloud UKCloud – a 2017 Queen’s Award for Enterprise for Innovation winner – is dedicated to the UK Public Sector. We provide assured, agile and value-based true public cloud that enable our customers to deliver enhanced performance through technology. We’re focused on cloud. Delivering a true cloud platform that is scalable, flexible, assured and cost-effective. We’re open. You are never locked in. Using industry standards and open source software we enable flexibility and choice across multiple cloud solutions. Dedicated to the UK Public Sector. Our business is designed specifically to serve and understand the needs of public sector organisations. We develop communities. We bring together communities of users that are able to share datasets, reuse code, test ideas and solve problems. Customer engagement. We will only be successful if our customers are successful. We embody this in the promise: Easy to adopt. Easy to use. Easy to leave. Additional information about UKCloud can be found at http://www.ukcloud.com/ or by following us on Twitter at @ukcloudltd


"The approval of this new U.S. patent is a key addition that extends and strengthens the Company's global intellectual property portfolio, specifically as it relates to an improved treatment regimen using Intec's Accordion Pill Carbidopa / Levodopa (AP-CD/LD), which is currently in a global Phase III clinical trial in advanced Parkinson's disease patients.  The new U.S. patent joins another U.S. patent family that protects the combination of Accordion Pill with certain drugs, including the combination of Carbidopa and Levodopa," noted Giora Carni, Intec Pharma's Chief Executive Officer. "We continue to fortify our patent portfolio around our Accordion Pill technology platform, further protecting and distinguishing it from would-be competitors and firmly establishing Intec Pharma's leading patent position for its proprietary oral drug delivery system." Intec Pharma Ltd. is a clinical-stage biopharmaceutical company focused on developing drugs based on its proprietary Accordion Pill platform technology. The Company's Accordion Pill is an oral drug delivery system that is designed to improve the efficacy and safety of existing drugs and drugs in development by utilizing an efficient gastric retention and specific release mechanism. The Company's product pipeline includes four product candidates in clinical trial stages: Accordion Pill Carbidopa/Levodopa, or AP-CD/LD, which is being developed for the treatment of Parkinson's disease symptoms in advanced Parkinson's disease patients; Accordion Pill Zaleplon, or AP-ZP, which is being developed for the treatment of insomnia, including sleep induction and the improvement of sleep maintenance; an Accordion Pill that is being developed for the prevention and treatment of gastroduodenal and small bowel Nonsteroidal Anti-Inflammatory Drug (NSAID)-induced ulcers; and AP-CBD/THC, an Accordion Pill with the two primary cannabinoids contained in Cannabis sativa, cannabidiol (CBD) and tetrahydrocannabinol (THC), which is being developed for various indications including low back neuropathic pain and fibromyalgia. This press release contains forward-looking statements about the Company's expectations, beliefs and intentions. Forward-looking statements can be identified by the use of forward-looking words such as "believe", "expect", "intend", "plan", "may", "should", "could", "might", "seek", "target", "will", "project", "forecast", "continue" or "anticipate" or their negatives or variations of these words or other comparable words or by the fact that these statements do not relate strictly to historical matters. These forward-looking statements are based on assumptions and assessments made in light of management's experience and perception of historical trends, current conditions, expected future developments and other factors believed to be appropriate. Forward-looking statements in this press release are made as of the date of this press release, and the company undertakes no duty to update or revise any such statements, whether as a result of new information, future events or otherwise. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties, many of which are outside of the company's control. Important factors that could cause actual results, developments and business decisions to differ materially from forward-looking statements are described in the sections titled "Risk Factors" in the company's filings with the Securities and Exchange Commission, and include the following: the company's ability to develop and commercialize its product candidates and obtain additional financing necessary therefor; the length, cost and uncertain results of the company's clinical trials; including uncertainty regarding the Company's ability to enroll the required number of patients therein; the potential of adverse side effects, other safety risks, or legal prohibitions on the use of certain products in certain jurisdictions that could preclude the approval of the company's drug candidates; the availability of reimbursement from government authorities and health insurance companies for the company's products; the impact of product liability lawsuits; and the influence of extensive and costly government regulation.


News Article | May 26, 2017
Site: www.marketwired.com

VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 26, 2017) - Monument Mining Limited (TSX VENTURE:MMY)(FRANKFURT:D7Q1) "Monument" or the "Company" reports that it has commenced the Front End Engineering Design (the "FEED") work leading to an internal Definitive Feasibility Study (the "DFS"), based on results of additional follow up test work on its Pre-Feasibility Study (the PFS"), Sedar filed on December 14, 2016 namely "NI43-101 report: Selinsing Gold Mine and Buffalo Reef Project", prepared by Snowden (the "2016 NI43-101 PFS Report"). The 2016 NI43-101 PFS Report uses the biological leaching process to treat sulphide gold ores. The Sulphide pre-treatment plant would require an estimated capital of US$39.5 million, providing a US$23.1 million NPV and 34.8% rate of return, given approximately 6 years life of mine. The additional test work was designed to determine, among bio-leach, intensive acid leach and Intec hydrometallurgical process, which sulphide treatment technology can deliver the best overall performance and economic recoveries in relation to Selinsing and Buffalo Reef ore characteristics. As a result, the BIOX® Process has given the best overall performance in terms of the above parameters, shown on average 90% recovery of gold from representative samples of ore from the Buffalo Reef material at Selinsing. The BIOX® Process is a patented technology owned by Outotec (Finland) Oy. It uses micro-organisms in the oxidation of certain gold bearing sulphide minerals in order to facilitate gold recovery. This technology has been used for decades to build sulphide pre-treatment plants all over the world. FEED/DFS has commenced targeting completion in September, 2017. This will include the overall plant process design to set up FEED criteria, FEED for add-in flotation plant and BIOX® Process plant, other alterations to the existing gold processing plant, and internal DFS with an execution plan to move forward to a detailed engineering and construction stage. Most of the work will be carried out internally by Monument's experienced technical team. The pilot plant built for Intec test work will be used for continuous test work on the BIOX® Process over the life of sulphide production when ore characteristics change with mining at depth. The Company is also in the process of selecting experienced experts in the BIOX® Process to assist in FEED/DFS work. While Intec has not been chosen as the most suitable treatment on Selinsing/Buffalo Reef sulphide ore, the test work going forward with Intec will be focused on production of very close to LME grade copper metal at the Mengapur Project. The Deed of Variation and the "Heads of Agreement" executed on February 14, 2015 is under review by the Company and Intec. The commercial objective of the test work is to produce copper metal in-country at the Mengapur site. Malaysia is a net importer of copper metal to feed its copper metal products manufacturing and fabrication industries. This will entail confirmation test work programs using copper ore feed from the Mengapur site and pilot plant programs using Intec. The technology has successfully produced copper and other base metals for more than 7 years in Tasmania, Australia by treating waste dumps as a commercial project. Monument Mining Limited (TSX VENTURE:MMY)(FRANKFURT:D7Q1) is an established Canadian gold producer that owns and operates the Selinsing Gold Mine in Malaysia. Its experienced management team is committed to growth and is advancing several exploration and development projects including the Mengapur Polymetallic Project, in Pahang State of Malaysia, and the Murchison Gold Projects comprising Burnakura, Gabanintha and Tuckanarra in the Murchison area of Western Australia. The Company employs approximately 190 people in both regions and is committed to the highest standards of environmental management, social responsibility, and health and safety for its employees and neighboring communities. FOR FURTHER INFORMATION visit the company web site at www.monumentmining.com. "Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release." This news release includes statements containing forward-looking information about Monument, its business and future plans ("forward-looking statements"). Forward-looking statements are statements that involve expectations, plans, objectives or future events that are not historical facts and include the Company's plans with respect to its mineral projects and the timing and results of proposed programs and events referred to in this news release. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". The forward-looking statements in this news release are subject to various risks, uncertainties and other factors that could cause actual results or achievements to differ materially from those expressed or implied by the forward-looking statements. These risks and certain other factors include, without limitation: risks related to general business, economic, competitive, geopolitical and social uncertainties; uncertainties regarding the results of current exploration activities; uncertainties in the progress and timing of development activities; foreign operations risks; other risks inherent in the mining industry and other risks described in the management discussion and analysis of the Company and the technical reports on the Company's projects, all of which are available under the profile of the Company on SEDAR at www.sedar.com. Material factors and assumptions used to develop forward-looking statements in this news release include: expectations regarding the estimated cash cost per ounce of gold production and the estimated cash flows which may be generated from the operations, general economic factors and other factors that may be beyond the control of Monument; assumptions and expectations regarding the results of exploration on the Company's projects; assumptions regarding the future price of gold of other minerals; the timing and amount of estimated future production; the expected timing and results of development and exploration activities; costs of future activities; capital and operating expenditures; success of exploration activities; mining or processing issues; exchange rates; and all of the factors and assumptions described in the management discussion and analysis of the Company and the technical reports on the Company's projects, all of which are available under the profile of the Company on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements, except in accordance with applicable securities laws.


News Article | April 24, 2017
Site: www.foodanddrinktechnology.com

The supplier of industrial weighing and inspection technologies will present, among other things, its full product portfolio in the area of foreign body detection. Minebea Intec continues to expand its foreign body detection product range with the introduction of a new X-ray inspection system: “Dymond Bulk” is set to be unveiled at the Interpack trade fair in Düsseldorf, Germany. This innovative inspection system was developed specifically with bulk goods in mind, and is particularly suitable for processes between incoming goods and packaging lines in the food industry. Dymond Bulk reliably inspects bulk goods like nuts, smaller fruits, frozen vegetables, and also spices, coffee and seeds, and eliminates any foreign bodies it identifies. The X-ray inspection system not only identifies foreign bodies made from metal, plastic and stone, but also bits of dirt and glass, which has obvious benefits for all goods that are introduced into the production process “straight from the field”. “In food production, the ‘sorting and cleaning’ stage for raw materials is by no means a precise science” explains Global Product Manager Michael Zabawski from Minebea Intec Aachen. “The X-ray inspection system Dymond Bulk can make a significant difference here, increasing safety and quality parameters even before the refinement process.” Dymond Bulk stands out because it is so user friendly. A conscious effort has been made to simplify the complex technology for the user: from real-time detection via colour-based contamination analysis, through to straightforward belt replacement and an easy-to-clean inspection system. Dumped or Pumped? When it comes to processing granulated raw materials and foodstuffs, Minebea Intec offers another reliable checkpoint in the form of the Freefall Metal Detection System Vistus. This modular detection system can be equipped with tubes and rejection devices that are suitable even for dusty products or granules. It detects and eliminates all metal foreign bodies including ferrous, non-ferrous and even non-magnetic stainless steels. The real highlight of the Freefall Metal Detection System is the “True In-Process Validation”. Here, test pieces can be introduced via a lockable slot using an applicator. This process enables proper performance validation—in the centre of the search coil and centrally to the production process. It is also possible to compile measurement data in a meaningful way. For intelligent and networked data processing, at Interpack, Minebea Intec will be presenting a new software release for statistical process controls:  SPC@Enterprise 3.0 converts all measurement data into useful information, even in the areas of foreign body detection and dynamic checkweighing, which help to ensure product quality, food safety and productivity. For efficient monitoring, documentation and control as per pre-packaging legislation, quality and hygiene standards. Come and meet Minebea Intec at the Interpack trade fair in Düsseldorf from May 4–10, Hall 14, Stand D14.


News Article | May 3, 2017
Site: www.beveragedaily.com

Dymond Bulk was developed with bulk goods in mind including nuts, smaller fruits, frozen vegetables, spices, coffee and seeds, and eliminates any foreign bodies it identifies. It can identify foreign bodies made from metal, plastic, stone, dirt and glass and is suitable for processes between incoming goods and packaging lines in the food industry. “Dymond Bulk stands out because it is so user friendly. A conscious effort has been made to simplify the complex technology for the user: from real-time detection via color-based contamination analysis, to straightforward belt replacement and an easy-to-clean inspection system,” said Michael Zabawski, global product manager, Minebea Intec. Zabawski added another product for processing granulated raw materials and foodstuffs is Minebea Intec’s Freefall Metal Detection System Vistus. The modular detection system can be equipped with tubes and rejection devices that detects and eliminates all metal foreign bodies including ferrous, non-ferrous and non-magnetic stainless steels. Minebea Intec is presenting a software release for statistical process controls: SPC@Enterprise 3.0 which converts all measurement data into useful information, including foreign body detection and dynamic checkweighing, at Interpack trade fair in Düsseldorf, Germany, this week (May 4-10).


News Article | April 24, 2017
Site: www.foodanddrinktechnology.com

The supplier of industrial weighing and inspection technologies will present, among other things, its full product portfolio in the area of foreign body detection. Minebea Intec continues to expand its foreign body detection product range with the introduction of a new X-ray inspection system: “Dymond Bulk” is set to be unveiled at the Interpack trade fair in Düsseldorf, Germany. This innovative inspection system was developed specifically with bulk goods in mind, and is particularly suitable for processes between incoming goods and packaging lines in the food industry. Dymond Bulk reliably inspects bulk goods like nuts, smaller fruits, frozen vegetables, and also spices, coffee and seeds, and eliminates any foreign bodies it identifies. The X-ray inspection system not only identifies foreign bodies made from metal, plastic and stone, but also bits of dirt and glass, which has obvious benefits for all goods that are introduced into the production process “straight from the field”. “In food production, the ‘sorting and cleaning’ stage for raw materials is by no means a precise science” explains Global Product Manager Michael Zabawski from Minebea Intec Aachen. “The X-ray inspection system Dymond Bulk can make a significant difference here, increasing safety and quality parameters even before the refinement process.” Dymond Bulk stands out because it is so user friendly. A conscious effort has been made to simplify the complex technology for the user: from real-time detection via colour-based contamination analysis, through to straightforward belt replacement and an easy-to-clean inspection system. Dumped or Pumped? When it comes to processing granulated raw materials and foodstuffs, Minebea Intec offers another reliable checkpoint in the form of the Freefall Metal Detection System Vistus. This modular detection system can be equipped with tubes and rejection devices that are suitable even for dusty products or granules. It detects and eliminates all metal foreign bodies including ferrous, non-ferrous and even non-magnetic stainless steels. The real highlight of the Freefall Metal Detection System is the “True In-Process Validation”. Here, test pieces can be introduced via a lockable slot using an applicator. This process enables proper performance validation—in the centre of the search coil and centrally to the production process. It is also possible to compile measurement data in a meaningful way. For intelligent and networked data processing, at Interpack, Minebea Intec will be presenting a new software release for statistical process controls:  SPC@Enterprise 3.0 converts all measurement data into useful information, even in the areas of foreign body detection and dynamic checkweighing, which help to ensure product quality, food safety and productivity. For efficient monitoring, documentation and control as per pre-packaging legislation, quality and hygiene standards. Come and meet Minebea Intec at the Interpack trade fair in Düsseldorf from May 4–10, Hall 14, Stand D14.


News Article | December 7, 2016
Site: www.prweb.com

Drummond Group announced today that 18 AS2 software products representing 13 global organizations have been Drummond Certified™ in the AS2-3Q16 automated interoperability test event. AS2 software products from the following companies successfully passed this year’s third quarter interoperability testing of the AS2 RFC specification: Axway, Cleo, Dell Boomi, E2open, Hewlett Packard Enterprise, IBM, Intec Inc., Liaison, Linoma Software, Lobster GmbH, Microsoft, OpenText, and RSSBus. AS2 (Applicability Statement 2) is one of the most widely recognized messaging standards for B2B e-commerce with thousands of implementations around the globe. It enables businesses to easily establish trading partner relationships to exchange business data (like EDI, XML, documents, PDFs, text files, etc.) securely and reliably, thereby delivering cost savings and providing flexibility and control for backend to backend data integration. "AS2 certification for interoperability remains a critical part of the successful adoption of AS2. This is evidenced by the twice-per-year AS2 test event running continuously since the year 2000,” said Aaron Gomez, Drummond Group’s director of B2B testing. “Additionally, the move to SHA-2 is in demand, and interoperability testing around this and updated versions of products before introducing them to the marketplace becomes very important. These companies dedicated several months of automated testing resolving issues in a real-world test setting, supported by Drummond Group’s InSitu™ Test System, and earning AS2 Drummond Certification as a group. Drummond AS2 certified products continue to provide the highest level of interoperability, providing small, medium and large global businesses a wide selection of offerings.” For a complete list of the newly certified AS2-3Q16 products and registration information for upcoming tests, please click on the following: AS2 Current Certified Product Listing. About Drummond Group LLC Founded in 1999, Drummond Group LLC is a leader in innovative, global software testing, certification and acts as a catalyst to advance and tie together technologies, standards, security and interoperability in vertical industries – automotive, health care, financial services, government, petroleum, pharmaceutical and retail. As a trusted, experienced and accredited interoperability test lab, the firm offers global test services through the product life cycle, including auditing, quality assurance, conformance and test consulting. For more information, please visit http://www.drummondgroup.com or email INFO2(at)drummondgroup(dot)com.


News Article | March 1, 2017
Site: www.marketwired.com

Gross Revenue of $4.64 Million and Cash Cost of US$840/Oz VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 1, 2017) - Monument Mining Limited (TSX VENTURE:MMY)(FRANKFURT:D7Q1) "Monument" or the "Company" today announced its second quarter production and financial results for the three and six months ended December 31, 2016. All amounts are in United States dollars unless otherwise indicated (refer to www.sedar.com for full financial results). President and CEO Robert Baldock commented on second quarter fiscal 2017 financial results: "The Company continued to focus on the near-term corporate objectives. At Selinsing, we completed the Prefeasibility Study, plan for construction of a Phase IV Sulphide circuit and exploration programs to increase sulphide gold inventory. At Murchison, we continue to implement the early stage production plan and have transported the crushing circuit equipment to the mine site in preparation for assembly." Second Quarter Production and Financial Highlights Part of the sulphide material at Buffalo Reef was shown to be leachable by a metallurgical testwork program, which together with the leach tank alteration and recovery of gold locked in circuit, has increased gold recovery. During the second quarter, gold recovery increased by 7% to 4,634oz from 4,320oz in the corresponding period last year and average ore head grade increased by 35% to 1.12g/t Au from 0.83g/t Au in the corresponding period last year. Gold production for the second quarter, net of gold doré in transit and refinery adjustment, was 2,888oz (defined as good delivery gold bullion according to the London Bullion Market Association), a 43% decrease compared to 5,050oz in the corresponding period of the previous year. For the three months ended December 31, 2016, gold sales generated $4.64 million compared to $5.68 million in the corresponding period last year. The revenue comprised of 3,841oz of gold sold (Q2 fiscal 2016: 5,100oz) from production at an average realized gold price of $1,207 per ounce (Q2 fiscal 2016: $1,114 per ounce) for the quarter. The average London Fix PM gold price was $1,200 per ounce for the quarter compared to $1,106 per ounce for the corresponding period last year. For the six months ended December 31, 2016, gold sales generated $7.78 million compared to $14.01 million, of which $11.42 million from production and $2.59 million from the settlement of a gold forward sale, in the corresponding period last year. The revenue comprised of 6,191oz of gold sold from production at an average realized gold price of $1,256 per ounce (Six months ended December 31, 2015: 10,100oz at an average realized gold price of $1,130 per ounce). The average London Fix PM gold price was $1,252 per ounce for the six months ended December 31, 2016 compared to $1,129 per ounce for the corresponding period last year. For the three months ended December 31, 2016, total production costs increased by 11% to $4.60 million, compared to $4.15 million in the same period last year. The increase in cost was mainly attributed to depreciation that increased to $1.33 million for the second quarter from $0.85 million in the same period last year, offset by the lower amount of gold sold of 3,841oz compared to 5,100oz in the same period last year. For the six months ended December 31, 2016 total production costs decreased by 23% to $7.84 million, compared to $10.14 million in the same period last year. The decrease in cost was mainly attributed to the lower amount of gold sold of 6,191oz compared to 15,100oz in the same period last year. For the three months ended December 31, 2016, income from mining operations was $0.04 million compared to $1.54 million in the same period last year and corporate expenditure for the quarter of $0.93 million (Q2 fiscal 2016: $0.89 million) was 4% higher compared to the same period last year. Net loss for the quarter was $0.07 million, or $(0.00) per share (basic) compared to $4.58 million or $(0.01) per share (basic) in the same period last year. For the six months ended December 31, 2016, loss from mining operations was $0.06 million compared to income of $3.87 million in the same period last year and corporate expenditure of $1.66 million was unchanged compared to the same period last year. Net loss for the six months ended December 31, 2016 was $1.51 million, or $(0.00) per share (basic) compared to $4.47 million or $(0.01) per share (basic) in the same period last year. As at December 31, 2016, the Company had positive working capital of $27.79 million compared to $28.34 million as at June 30, 2016, a decrease of $0.55 million. The Company's cash and cash equivalents, including the restricted cash balance as at December 31, 2016 was $15.35 million compared to the balance held at June 30, 2016 of $20.91 million, a decrease of $5.56 million. The decrease was partially due to development that increased the value in the Company's two gold portfolios, Selinsing in Malaysia and Murchison in Western Australia. The Company's development focused on improvement of the Selinsing gold processing plant to lift gold production, completion of the prefeasibility study to increase life of mine of the Selinsing Gold Mine, and development of early stage production for additional cash generation at Murchison. For the six months ended December 31, 2016, a total of $4.89 million (Six months ended December 31, 2015: $5.59 million) was spent on these programs, comprised of $2.34 million (Six months ended December 31, 2015: $2.37 million) at Selinsing, $2.36 million (Six months ended December 31, 2015: $2.80 million) at Murchison, and $0.18 million (Six months ended December 31, 2015: $0.41 million) was spent on care and maintenance at Mengapur. During the second quarter a prefeasibility study was completed resulting in the "NI 43-101 Technical Report-Selinsing Gold Mine and Buffalo Reef Project" (the "2016 PFS") (Snowden), filed December 14, 2016 on Sedar (www.sedar.com). The 2016 PFS describes Proven and Probable Mineral Reserves at the Selinsing gold mine, including the adjacent Buffalo Reef and Felda deposit in Pahang State, Malaysia. A total Mineral Reserve of 279 koz of gold from 6,217 kt of ore at a grade of 1.40 g/t Au is reported, including 60 koz of gold from 2,736 kt of oxide ore at a grade of 0.68 g/t Au, which will support the Company's next 18 to 24 months production in transition period. Sulphide ore will be processed primarily through an additional biological pre-treatment circuit planned to be added to the existing plant. Once successfully designed, constructed and commissioned the planned upgraded plant will enable the Company to continue gold production at Selinsing for an additional estimated five years through to 2023 without any further ore discovery, as demonstrated by the 2016 PFS. According to the 2016 PFS, a Phase IV plant expansion is required to process refractory sulfide material through a flotation-bioleach sulphide treatment process for a capital cost of $39.50 million based on Monument's estimated EPCM (Engineering, Procurement, Construction and Management) expenditure and "Selinsing Phase IV PFS Capex and Opex Revision" recently prepared by Lycopodium. The plant expansion investment expects to provide a $23.10 million NPV, and 34.8% rate of return. Additional testwork to further optimize bioleach sulphide treatment recoveries has been commenced in parallel with completing Intec and acid leaching alternatives at its wholly owned Selinsing Gold Mine in Malaysia. Further exploration work is planned down the road in parallel with sulphide project development to increase sulphide resources since the mineralization structure is open in all directions. The Company made the decision to put the Burnakura Project into early stage production based on its internal economic study of the project and a "Proposal for Front End Engineering Design" for the planned Burnakura heap leach/CIL production with capital expenditures and operating expenditures prepared by Como Engineers Pty Ltd. During the quarter, the internal economic study including the mine plan, engineering works and economic analysis has been sent to independent consultants for due diligence review for funding purpose; and additional metallurgical testwork and detailed mine delivery schedules for certain deposits were completed to mitigate the construction and operation risks, aiming to lift a level of confidence to achieve targeted economic viability. The internal economic assessment shows that the life of mine of the early stage production could be potentially extended. The off-site engineering design, refurbishment and procurement work has been completed on long lead items including the purchase of a new TRIO CT2436 jaw crusher to replace the existing crusher on site, new and refurbished feed /discharge conveyors together with supporting steel works, self-cleaning magnet, triple deck screen and refurbished secondary Symons 51 cone crusher and a fully integrated MCC for plant control. The first delivery to the Burnakura mine site from Como Engineers was transported in December 2016. This crushing circuit was unloaded at Burnakura and ready for assembly and installation at the mine site subject to completion of funding arrangements. The Heap Leach plant equipment including stackers and agglomerator are now stored adjacent to the proposed heap pad subsequent to the second quarter. A site inspection was completed with Como Engineers and a detailed proposal for primary secondary and tertiary crushing circuit, together with CIL feed plan and CIL recommissioning plan was proposed and a construction schedule was developed for implementation. Other mine development activities include completion of a power strategy assessment, building the site power model and pit dewatering has been assessed for early stage production. Since August 2016, ongoing pre-construction site development activities have taken place at the Burnakura mine site including, preparing the light vehicle and processing workshop ready for construction activities in 2017. Preparing the store area for cataloguing and receipt of first fill inventory for the project and preparing the gensets for mobilizing off-site together with preparing the 3KVa transformer for repair were completed in the quarter. The Amended Environmental Protection License for Crushing, Heap Leach and Dewatering was received during the quarter with approval from the Department of Environmental Regulation ("DER") for the operation of the proposed 0.50 million tonne per annum Heap Leach Facility. The Mining Proposal was submitted in December 2016 and the Mine Closure Plan was submitted subsequent to second quarter, this will complete all DER licensing requirements for operational readiness. The second quarter exploration program focused on confirmation and infill drilling at Selinsing Pit IV, metallurgical drilling at Buffalo Reef South ("BRS"), designing an oxide trenching and drilling program at Peranggih deposit, and the geo-metallurgical program aimed to define leachable mining blocks to improve mining and plant production by selecting drill hole samples within the life of mine oxide pits, starting with Buffalo Reef North ("BRN") and progressing south. During the quarter, analysis results were received for 19 geo-metallurgical samples from the Buffalo Reef Central ("BRC") area and are being used for modelling. Composited geo-metallurgical sample analysis results were received for 28 geo-metallurgical samples from Peranggih drill core, which will be used to define leachable (oxide) zone levels and design a drilling and trenching program for the third quarter. An additional 43 geo-metallurgical samples from BRS were submitted to the Selinsing in-house laboratory for analysis. The geo-metallurgical modelling for BRN was completed along with a methodology report. The delineation of seven blocks with an estimated 1,660oz of leachable gold encourages confirmation work with the mining grade control and plant departments. Resource definition drilling at Selinsing Pit IV produced 442 core samples that were submitted for assays and analysis. Metallurgical drilling at BRS produced 68 samples which were submitted for assays and testwork analysis. The second quarter exploration concluded the 2016 infill and extension drilling programs, consolidating sampling and assay work information, collar and down-hole survey, rehabilitation and completion of NOA North Resource modeling. NOA2 Resource modelling has been completed subsequent to the quarter. These drill programs were aimed to increase the ounces for additional ore to be included in the early stage of the Burnakura Operation production. The study of the available information and completed resource modeling update has shown positive indications for the increase of mineralized volume and gold grade/ounces for a good part of NOA7_8. It has also enhanced the strong potential for the continuity of deep mineralization in the central and north portions of NOA7_8 deposit. A deep drilling program at the NOA7_8 deposit was previously announced aiming to test the underground potential to 500m in order to increase the life of mine, in conjunction with the early stage production plan. A preliminary review of underground potential was conducted supporting the exploration strategy for a deeper drill program south of NOA7_8. The program was scheduled to start in the second quarter of fiscal 2017, however is postponed subject to funding. The Company has secured some acquisition opportunities in Democratic Republic of Congo ("DRC") subsequent to the second quarter, including entering into an "Exclusive Option Agreement" with Panex Resources Inc. ("Panex") to acquire, at its discretion, Panex's 51% controlling interest in the Matala Gold Project; and signing a Memorandum of Understanding (the "MOU") with Klaus Eckhof and Mines D'OR SARL to acquire a 60% interest in Bisie North Tin and Gold Prospect ("Bisie North"), subject to certain conditions including completion of due diligence and a definitive agreement, and obtaining the Board and TSX-V approvals. The Company continues to evaluate those opportunities. Monument Mining Limited (TSX VENTURE:MMY)(FRANKFURT:D7Q1) is an established Canadian gold producer that owns and operates the Selinsing Gold Mine in Malaysia. Its experienced management team is committed to growth and is advancing several exploration and development projects including the Mengapur Polymetallic Project, in Pahang State of Malaysia, and the Murchison Gold Projects comprising Burnakura, Gabanintha and Tuckanarra in the Murchison area of Western Australia. The Company employs approximately 190 people in both regions and is committed to the highest standards of environmental management, social responsibility, and health and safety for its employees and neighboring communities. The Company has also been looking in other countries seeking potential opportunities for larger resources, including the Democratic Republic of the Congo ("DRC"). "Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release." This news release includes statements containing forward-looking information about Monument, its business and future plans ("forward-looking statements"). Forward-looking statements are statements that involve expectations, plans, objectives or future events that are not historical facts and include the Company's plans with respect to its mineral projects and the timing and results of proposed programs and events referred to in this news release. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". The forward-looking statements in this news release are subject to various risks, uncertainties and other factors that could cause actual results or achievements to differ materially from those expressed or implied by the forward-looking statements. These risks and certain other factors include, without limitation: risks related to general business, economic, competitive, geopolitical and social uncertainties; uncertainties regarding the results of current exploration activities; uncertainties in the progress and timing of development activities; foreign operations risks; other risks inherent in the mining industry and other risks described in the management discussion and analysis of the Company and the technical reports on the Company's projects, all of which are available under the profile of the Company on SEDAR at www.sedar.com. Material factors and assumptions used to develop forward-looking statements in this news release include: expectations regarding the estimated cash cost per ounce of gold production and the estimated cash flows which may be generated from the operations, general economic factors and other factors that may be beyond the control of Monument; assumptions and expectations regarding the results of exploration on the Company's projects; assumptions regarding the future price of gold of other minerals; the timing and amount of estimated future production; the expected timing and results of development and exploration activities; costs of future activities; capital and operating expenditures; success of exploration activities; mining or processing issues; exchange rates; and all of the factors and assumptions described in the management discussion and analysis of the Company and the technical reports on the Company's projects, all of which are available under the profile of the Company on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements, except in accordance with applicable securities laws.


News Article | November 10, 2016
Site: www.marketwired.com

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 9, 2016) - Monument Mining Limited (TSX VENTURE:MMY)(FRANKFURT:D7Q1) ("Monument" or the "Company") is pleased to announce Proven and Probable Mineral Reserves at its 100% owned Selinsing operating gold mine, including the adjacent Buffalo Reef deposit in Pahang State, Malaysia. All Mineral Reserves and Mineral Resources were estimated by Snowden Mining Industry Consultants Pty Ltd ("Snowden") as Independent qualified person defined under NI 43-101 standards. The complete NI 43-101 Technical Report as a result of the Pre-Feasibility Study is expected to be filed shortly under www.sedar.com. The President and CEO Robert Baldock commented, "We are excited to see that the new NI 43-101 Mineral Reserve allows Selinsing Gold Mine to operate with sustainable production for years to come. The Company has adopted the bio-leaching approach as its economic baseline for the sulphide gold production while continuing its Intec test works. We expect the economics to be further optimized by the potential of Intec technology and other alternatives with large sulphide exploration potential." The Mineral Reserves were estimated at June 30, 2016, and comprise 235 koz of gold from 3,882 kilotonnes (kt) of ore at a diluted grade of 1.88 grams of gold per tonne (g/t) from the Selinsing and Buffalo Reef/Felda deposits, along with a further 44 koz of gold from 2,335 kt of ore from stockpiles at a grade of 0.59 g/t Au. The total Mineral Reserve is 279 koz of gold from 6,217 kt of ore at a grade of 1.40 g/t Au. The Probable Mineral Reserves are within newly estimated Indicated Resources of 200 koz of gold from 3,220 kt of material at a grade of 1.93 g/t Au at the Selinsing deposit, and 240 koz of gold from 4,330 kt of material at a grade of 1.73 g/t Au at the Buffalo Reef/Felda deposit. Indicated Mineral Resources are inclusive of Probable Mineral Reserves. The Proven Mineral Reserves comprise entirely Measured Mineral Resources from stockpiles of 44 koz of gold from 2,335 kt at a grade of 0.59 g/t Au. The Inferred Resource at Selinsing is an additional 65 koz of gold from 550 kt of material at a grade of 3.67 g/t Au, whereas for Buffalo Reef/Felda the Inferred Resource is an additional 212 koz of gold from 3,810 kt of material at a grade of 1.74 g/t Au. The tables below (1, 2, 3 and 4) summarize the newly estimated Mineral Reserves and Mineral Resources by area and ore type, all expressed in metric tonnes and Troy ounces (1 ounce = 31.1035 g). A map showing the area locations as follows (Figure 1): To view Figure 1. Location Map of Selinsing and Buffalo Reef Properties, please visit: http://media3.marketwire.com/docs/1075677_fig1.pdf. The updated Mineral Reserve was estimated using an average gold price of US$1,255 per ounce. To identify the Selinsing and Buffalo Reef Ore Reserve a process of: ore dilution application, Whittle pit optimization, staged pit design, production scheduling and mine cost analysis was undertaken. Significant sulphide Mineral Reserves were identified following a metallurgical engineering investigation by Lycopodium Minerals Pty Ltd. The mining method is conventional open pit drill and blast, load and haul on a 2.5 m mining flitch with a 10 m high blasting bench, reflective of semi-selective mining. The excavator bucket size of 2.3 m3 is matched to this selectivity. A waste ore stripping ratio of approximately 6 was identified for mining. Overall, block dilution has reduced the recovered ounces by approximately 10% and marginally increased the ore tonnage processed. Estimated Mineral Resources were limited to within a pit shell based on a gold price of US$1,776/oz to define the potential for identification of Mineral Resources. Mining and stockpiling of Buffalo Reef oxide material started in November 2012 and processing of this material at the Selinsing processing plant commenced in early March 2013. Mineral Reserves were then estimated by Snowden Mining Industry Consultants as shown in Table 1. Table 1. Selinsing and Buffalo Reef/Felda Mineral Reserves as at June 30, 2016 Snowden has verified the drill hole data used to support the technical and scientific information in this news release, including the sampling, sample security, analytical techniques, original assay certificates, and Quality Assurance/Quality Control procedures and has determined that CIM and NI 43-101 Industry Standards have been sufficiently followed. Snowden constructed a 3D model of the mineralized bodies using modeling software and estimated the June 30, 2016 Selinsing and Buffalo Reef/Felda Resources and Reserves. Table 2 Selinsing Mineral Resource statement, reported inclusive of Mineral Reserves, depleted for mining to end of June 2016 Table 3 Buffalo Reef/Felda Mineral Resource statement, reported inclusive of Mineral Reserves, depleted for mining to end of June 2016 Exploration at Selinsing and Buffalo Reef primarily comprised diamond and RC drilling. In addition trenching, channel samples and pit mapping were also used to help guide exploration works. Assays received up to the cut-off date of February 24, 2016 were considered for modelling. The majority of drill holes have been accurately collar surveyed and most of diamond holes have been surveyed downhole. Sample recovery for diamond drilling conducted by Monument at both Selinsing and Buffalo Reef can be considered good and should provide samples suitable for resource estimation. Half core diamond samples and riffle split RC samples formed the bulk of the samples used in the resource modelling. The majority of samples were analyzed for gold, arsenic, silver and antimony. Gold was analyzed primarily by fire assay using a 50 g charge with an atomic absorption spectroscopy (AAS) finish. The RC and diamond drilling completed by Monument after 2007 includes independent QAQC samples with the sample batches, the results of which show reasonable precision and analytical accuracy have been achieved. Assay data in the database have been verified by Snowden with a random selection of original lab reports, with no major discrepancies identified. The drillhole logging and assay data was used as the main basis for the geological interpretation. The gold mineralization was interpreted on 20m spaced east-west sections as a series of wireframe solids, based on a nominal threshold of 0.15 g/t Au along with the geological logging. The drillhole data was composited downhole prior to running the estimation process using a 1.5 m compositing interval to minimize any bias due to sample length. Variograms have been modelled and the gold grade estimated by ordinary kriging with top-cuts as appropriate for the Buffalo Reef/Felda deposits, whereas for the Selinsing deposit, due to the strongly skewed nature of the gold grades, multiple indicator kriging (MIK) was used to estimate the block gold grades. A parent block size of 10 mE by 20 mN by 2.5 mRL was used to construct a block model for the Selinsing deposit, whereas an 8 mE by 20 mN by 2.5 mRL parent block size was used for the Buffalo Reef/Felda deposit. A slightly smaller block size of 8 mE was selected for Buffalo Reef due to the more selective nature of the geological interpretation and to ensure reasonable volume resolution. A three-pass search strategy was utilized for all grade estimates with the same search neighborhood parameters applied to all domains. Over 2,600 bulk density measurements were taken by Monument in the Selinsing and Buffalo Reef/Felda deposits using the Archimedes Principle, with wax-coating used to account for the porosity. Default bulk density values were assigned to the model blocks based on the oxidation state, separately for waste and mineralized zones. The Mineral Resource estimate has been validated against the input samples, and classified as a combination of Indicated and Inferred Resources in accordance with CIM guidelines. The Mineral Resources have been depleted for all mining as at the end of June 2016. Mineral Reserves for the stockpiles, based on end of month surveyed volumes and grade control during mining informing the grade, at the Selinsing Project (including ore mined from the Selinsing and Buffalo Reef pits), as at the end of June 2016, are summarized in Table 4. The stockpile resources are classified as Measured Resources in their entirety with a 100% conversion of the stockpile Measured Resources to Proven Mineral Reserves; as such, Table 4 also applies for the stockpile Measured Resource statement. Table 4 Stockpile Proven Mineral Reserves, as at end of June 2016 The updated mineral resource estimate incorporates a new property-wide resource block model, which includes a total of 126 new surface diamond and RC drilling results for 18,639.8m at Selinsing since the last resource estimate completed in 2012. In the same period, a total of 522 drill holes were completed for 47,673.4 m at the Buffalo Reef deposit, including the Felda area. Drill hole assays received as of February 24, 2016 were used in this Resource and Reserve update along with the June 30, 2016 mine face positions as surveyed by Monument. Exploration has continued at Selinsing and Buffalo Reef after June 2016, focused on defining mineralization at depth below the existing pits, within gap zones in between the known resources that contain little drill hole information, and to convert inferred materials to indicated and/or measured materials. Also metallurgical drilling has been completed, aiming to get sulphide material to be used in metallurgical testwork. The 2016 Selinsing and Buffalo Reef/Felda Mineral Resources were estimated by John Graindorge, an employee of Snowden, who is the independent Qualified Person for the June 30, 2016 Mineral Resources as defined by NI 43-101. The 2016 Selinsing and Buffalo Reef Mineral Reserves were estimated by Frank Blanchfield, an employee of Snowden, who is the independent Qualified Person for the June 30, 2016 Mineral Reserves as defined by NI 43-101. Snowden is preparing an updated NI 43-101 Technical Report entitled "Selinsing Gold Mine and Buffalo Reef project" which will include these new resource and reserve results. The Phase IV plant expansion is required to process refractory sulfide materials. The flotation-bioleach sulphide treatment process has been reviewed and used for Phase IV plant expansion by Snowden in its upcoming NI43-101 technical report, based on Monument's estimated EPCM (Engineering, Procurement, Construction and Management) expenditure and "Selinsing Phase IV PFS Capex and Opex Revision" recently produced by Lycopodium with a significant reduction in capital and operation expenditure from the original cost that is described in the existing NI43-101 Technical Report produced by Practical Mining and filed on SEDAR in May 2013. The Phase IV plant and mining expansion, as estimated in the NI 43-101 Technical Report, has a capital cost of US$39.5 million dollars, provides a US $23.1M NPV, and 34.8% rate of return. The Selinsing Gold Mine was originally developed on the basis of treating oxide ore via conventional crushing and ball milling followed by gravity recovery of free gold and cyanidation of gravity concentrate. Gravity tails are subjected to conventional CIL. Final gold recovery from carbon strip solution and gravity concentrate leach solution is by electrowinning onto stainless steel cathodes. In 2009 mining operations commenced at Selinsing. Since then, Monument developed an open pit mine and construction of a 1,200 tpd gold treatment plant in three phases. During 2011, Monument Mining Limited (MML) engaged Inspectorate Exploration and Mining Services Ltd of Vancouver (Inspectorate), Canada to carry out a metallurgical test program on a selection of diamond drill core material collected from the Buffalo Reef deposit at its Selinsing operation in Malaysia. The gold extraction from sulphides at Selinsing has been assessed in the engineering study ultimately prepared for MML by Lycopodium of Brisbane, Australia and reported by Lycopodium in "Selinsing Phase IV Study", February 2013. The Mineral Resources and Mineral Reserves identified above have been estimated in accordance with the standards adopted by the Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") Council in November 2010, as amended, and prescribed by the Canadian Securities Administrators' National Instrument 43-101 Standards of Disclosure for Mineral Projects. John Graindorge and Frank Blanchfield, of Snowden Mining Industry Consultants, have reviewed and approved the contents of this news release, and are the independent Qualified Persons for this news release. Monument Mining Limited (TSX VENTURE:MMY)(FRANKFURT:D7Q1) is an established Canadian gold producer that owns and operates the Selinsing Gold Mine in Malaysia. Its experienced management team is committed to growth and is advancing several exploration and development projects including the Mengapur Polymetallic Project, in Pahang State of Malaysia, and the Murchison Gold Projects comprising Burnakura, Gabanintha and Tuckanarra in the Murchison area of Western Australia. The Company employs approximately 240 people in both regions and is committed to the highest standards of environmental management, social responsibility, and health and safety for its employees and neighboring communities. The Company has also been seeking potential opportunities for larger resources in other countries. FOR FURTHER INFORMATION visit the company web site at www.monumentmining.com. "Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release." This news release contains forward-looking information and forward-looking statements about Monument (together referred to herein as "forward-looking statements"). Forward-looking statements are statements that are not historical facts and include statements regarding: expected operations, mining and processing rates at the Company's Selinsing gold mine; exploration and development plans for the Selinsing and Buffalo Reef projects; costs, timing, value and rate of return for the Phase IV plant expansion; and other plans and expectations of the Company described herein. Forward-looking statements are based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made, and are inherently subject to a variety of risks and uncertainties and other known and unknown factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These risks and certain other factors include: the Company's expectations in connection with its exploration, development and expansion projects; the impact of general business and economic conditions; changes in project parameters as plans continue to be refined; costs of future activities; capital and operating expenditures; success of exploration activities; the estimated cash cost per ounce of gold production and the estimated cash flows which may be generated from the operations; mining or processing issues; currency exchange rates; government regulation of mining operations; environmental risks; general economic factors and other factors that may be beyond the control of Monument. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements, including the risks factors listed above, other risks inherent in the mining industry and other risks described in the management discussion and analysis of the Company, which is available under the profile of the Company on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements, except as required by applicable securities laws.


News Article | November 30, 2016
Site: www.marketwired.com

Gross Revenue of $3.14 Million and Cash Cost of US$981/Oz VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 29, 2016) - Monument Mining Limited (TSX VENTURE:MMY)(FRANKFURT:D7Q1) "Monument" or the "Company" today announced its first quarter production and financial results for the three months ended September 30, 2016. All amounts are in United States dollars unless otherwise indicated (refer to www.sedar.com for full financial results). President and CEO Robert Baldock commented on first quarter fiscal 2017 financial results: "The Company continued to build value on its foundation in the first quarter. At Selinsing, we wrapped up the Prefeasibility study to the final stages and completed a leach tank conversion to improve gold recoveries. At Murchison, we are working towards the implementation of the early stage production plan and in parallel a deep drilling program at Burnakura to pursue a long-term underground mining opportunity." First Quarter Production and Financial Highlights A leach tank was converted to a CIL (Carbon in Leach) tank from the CIP (Carbon in Pulp) tank in the quarter is expected to increase gold recoveries in subsequent quarters. The lower gold production was mainly due to production downtime and lower processing recovery as result of super low grade ore mill feed, effects of organic carbon pre-robbing and timing of stripping. Gold production for the quarter, net of gold doré in transit and refinery adjustment, was 3,291oz (defined as good delivery gold bullion according to the London Bullion Market Association), a 35% decrease compared to 5,063oz in the corresponding period of the previous year. The conversion to a CIL (Carbon in Leach) tank from the CIP (Carbon in Pulp) was designed to resolve the pre-robbing issue. Gold sales generated $3.14 million for the quarter compared to $8.33 million, of which $5.74 million from production and $2.59 million from the settlement of a gold forward sale, in the same period last year. The revenue comprised of 2,325oz of gold sold (Q1 fiscal 2016: 5,000oz) from production at an average realized gold price of $1,337 per ounce (Q1 fiscal 2016: $1,147 per ounce) for the quarter. The average London Fix PM gold price was $1,335 per ounce for the quarter compared to $1,124 per ounce for the same period last year. Total production costs decreased by 46% in the quarter to $3.24 million, compared to $6.00 million in the same period last year. The significant decrease in cost was mainly attributed to the lower amount of gold sold of 2,325oz in the quarter compared to 10,000oz in the same period last year, as a result of the decreased gold production. For the first quarter, loss from mining operations was $0.10 million compared to income of $2.33 million in the same period last year and corporate expenditure for the quarter of $0.73 million (Q1 fiscal 2016: $0.77 million) was 5% lower compared to the same period last year. Net loss for the quarter was $1.44 million, or $0.00 per share (basic) compared to income of $0.12 million or $0.00 per share (basic) in the same period last year. As at September 30, 2016, the Company had positive working capital of $28.66 million compared to $28.34 million as at June 30, 2016, an increase of $0.32 million. The Company's cash and cash equivalents, including the restricted cash balance as at September 30, 2016 was $15.98 million compared to the balance held at June 30, 2016 of $20.91 million, a decrease of $4.94 million. The decrease was partially due to development that increased the value in the Company's two gold portfolios, Selinsing in Malaysia and Murchison in Western Australia. The Company's first quarter development focused on improvement of the Selinsing gold processing plant to lift gold production, completion of the prefeasibility study to increase life of mine of the Selinsing Gold Mine, and development of early stage production for additional cash generation at Murchison. During the first quarter, a total of $2.76 million (Q1 fiscal 2016: $2.57 million) was spent on these programs, comprised of $1.09 million (Q1 fiscal 2016: $0.62 million) at Selinsing, $1.57 million (Q1 fiscal 2016: $1.72 million) at Murchison, and $0.10 million (Q1 fiscal 2016: $0.23 million) was spent on care and maintenance at Mengapur. During the quarter, the prefeasibility study wrapped up to final stages targeting completion in the second quarter of fiscal 2017. Under the prefeasibility study, the bioleach sulphide treatment process is identified in the upcoming NI 43-101 Technical Report as the most economic approach to demonstrate viability of the Selinsing sulphide project. Other process flowsheets are also being investigated and pending economic outcomes, the bioleach sulphide treatment process may be replaced by the Intec process. The results of the Intec pilot plant were completed during the quarter and an independent confirmation metallurgical testwork program was progressing by Orway Metallurgical Consultants. This testwork will provide an independent confirmation of the recoveries of gold from sulphide resources that is planned to be mined from Buffalo Reef using the Intec Process technology. Capital and operating costs will also be developed for the Intec Process, in comparison with biological, and acid leaching process as alternatives, and will be included in the study for the recovery of gold from Buffalo Reef sulphide mineralization. The independent testwork program is expected to be completed by December 2016. The off-site engineering design, refurbishment and procurement work was primarily completed on long lead items including the new primary and secondary, tertiary crushing circuit and a heap leach plant, ready for installation. The CIL feed plan and CIL recommissioning plan has been proposed and a construction schedule has been developed for implementation, this has reduced construction time from six to three months. Other critical movement included completion of a power strategy assessment, building the site power model and waste dump review for submission of mining proposal. Pit dewatering assessment for early stage production, access road, ROM pad and crusher feed ramp construction, sorting of store area ready for operational start-up have also been completed during the quarter. During the quarter, the internal preliminary reports for geology, mining, processing metallurgy and financial models were also completed. The further metallurgical study and mine optimization have been carried out subsequent to the first quarter in parallel with the independent technical review, targeting completion by December 2016. The workforce planning was submitted to management for review and the key operation management are now on board. The Amended Environmental Protection License for Crushing, Heap Leach and Dewatering was received subsequent to the quarter. In addition all mine planning work for submission of the Mining Proposal was completed during the quarter. The first quarter exploration program focused on geo-metallurgy aimed to define leachable mining blocks to improve mining and plant production by selecting drill hole samples within the life of mine oxide pits, starting with Buffalo Reef North ("BRN") and progressing south. During the quarter, analysis results were received for 25 geo-metallurgical samples from BRN and are being used for modelling. An additional 19 geo-metallurgical samples from Buffalo Reef Central ("BRC") and 65 geo-metallurgical samples from Felda Block 7 were submitted to the on-site laboratory for analysis. The first quarter exploration at Murchison has wrapped up the 2016 infill and extension drilling programs, including sampling and assay work, collar and down-hole survey, rehabilitation and data preparation to commence NOA ("North of Alliance") North Resource modeling, which has been completed subsequently in the second quarter. These programs were aimed to increase the ounces for additional ore to be included in the early stage of the Burnakura Operation production. A deep drilling program at the NOA7_8 deposit includes 5,237m RC and diamond drilling was announced during the quarter aiming to test the underground potential to 500m in order to increase the life of mine, in conjunction with the early stage production plan. The program was scheduled to start in the second quarter of fiscal 2017, however postponed subject to funding. Monument Mining Limited (TSX VENTURE:MMY)(FRANKFURT:D7Q1) is an established Canadian gold producer that owns and operates the Selinsing Gold Mine in Malaysia. Its experienced management team is committed to growth and is advancing several exploration and development projects including the Mengapur Polymetallic Project, in Pahang State of Malaysia, and the Murchison Gold Projects comprising Burnakura, Gabanintha and Tuckanarra in the Murchison area of Western Australia. The Company employs approximately 240 people in both regions and is committed to the highest standards of environmental management, social responsibility, and health and safety for its employees and neighboring communities. FOR FURTHER INFORMATION visit the company web site at www.monumentmining.com. "Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release." This news release includes statements containing forward-looking information about Monument, its business and future plans ("forward-looking statements"). Forward-looking statements are statements that involve expectations, plans, objectives or future events that are not historical facts and include the Company's plans with respect to its mineral projects and the timing and results of proposed programs and events referred to in this news release. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". The forward-looking statements in this news release are subject to various risks, uncertainties and other factors that could cause actual results or achievements to differ materially from those expressed or implied by the forward-looking statements. These risks and certain other factors include, without limitation: risks related to general business, economic, competitive, geopolitical and social uncertainties; uncertainties regarding the results of current exploration activities; uncertainties in the progress and timing of development activities; foreign operations risks; other risks inherent in the mining industry and other risks described in the management discussion and analysis of the Company and the technical reports on the Company's projects, all of which are available under the profile of the Company on SEDAR at www.sedar.com. Material factors and assumptions used to develop forward-looking statements in this news release include: expectations regarding the estimated cash cost per ounce of gold production and the estimated cash flows which may be generated from the operations, general economic factors and other factors that may be beyond the control of Monument; assumptions and expectations regarding the results of exploration on the Company's projects; assumptions regarding the future price of gold of other minerals; the timing and amount of estimated future production; the expected timing and results of development and exploration activities; costs of future activities; capital and operating expenditures; success of exploration activities; mining or processing issues; exchange rates; and all of the factors and assumptions described in the management discussion and analysis of the Company and the technical reports on the Company's projects, all of which are available under the profile of the Company on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements, except in accordance with applicable securities laws.

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