Monument Obtains Power Connection at the Selinsing Gold Project and Starts Gravity Plant Commissioning
Release #7 - 2009
Vancouver, B.C. Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) “Monument” or the “Company” is pleased to announce that electrical power has been connected to the power sub-station at the Selinsing Gold Project. In addition, commissioning has started in regards to the Stage I Gravity Plant. The Selinsing Gold Project is wholly owned by the Company and located in Pahang State, Malaysia.
The Malaysian government power supplier, Tenaga Nasional Berhad (“TNB”), has connected a 33kVA feed to the Selinsing HT transformers and the metering has been installed. TNB will commission and load test for the next two weeks before official handover can take place. Tests will be in stages, area by area independently concluding with a total load test.
In the meantime the Company has commenced controlled and staged commissioning of the Gravity Plant through the use of its portable generator sets. Pump tests have already been underway.
Once the Phase I gravity section of the plant is fully commissioned, the Company will commence gold production from the Gravity Plant in parallel with the ongoing Phase II construction of the CIL circuit.
Phase II, the construction of the CIL circuit, is on schedule and it is expected that the entire plant will be fully commissioned by the end of December 2009. The Company will operate the gravity circuit to achieve cash flow in parallel with completing construction of the CIL circuit and commissioning of the full plant.
The plant construction progress can be seen in an update of the Photo Gallery on the Company web site at www.monumentmining.com and investor inquiries are welcome to email@example.com.
Robert F. Baldock, President and CEO
Monument Mining Limited
Suite 490- 688 West Hastings Street
Vancouver B.C. Canada V6B 1P1
For further information contact:
Richard Cushing, Investor Relations
Wolfgang Seybold, President and CEO, Axino.AG
The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this news release.
Not for distribution to U.S. news wire services or dissemination in the United States. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of the information contained herein. Certain disclosures in this release, including management’s assessment of the Company’s plans and projects, constitute forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to the Company’s operation as a mineral exploration company that may cause future results to differ materially from those expressed or implied in such.
This press release contains forward-looking statements about Monument Mining Limited (“Monument”), its business and future plans, including the contemplated phase I and phase II development plans resulting in the commencement of mining and gold production, and in respect of the dates and amounts projected for these two phases resulting in the plant construction, gold production, gold sales and costs of the Selinsing Project. Forward-looking statements are statements that are not historical facts and include the timing of the proposed programs and events. The forward-looking statements in this press release are subject to various risks, uncertainties and other factors that could cause actual results or achievements to different materially from those expressed or implied by the forward-looking statements. These risks and certain other factors include, without limitation, uncertainty to the actual cost of the gravity circuit and the estimated cash flows which may be generated from the gravity circuit, the risk that the Selinsing Project will not be completed successfully or in a timely manner, general economic factors and other factors that may be beyond the control of Monument. Forward-looking statements are based upon the beliefs, opinions and expectations of the management of Monument at the time they are made and Monument does not assume any obligation to update its forward-looking statements if those beliefs, opinions, expectations or circumstances should change.