Monument Engages CHF in Investor Relations and Updates $12 Million Financing
Release #3 - 2010
Vancouver, B.C. - Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) (“the Company”, or “Monument”) announces its new affiliation with CHF Investor Relations (Cavalcanti Hume Funfer Inc., “CHF”), headquartered in Toronto, for investor relations services. CHF is well known for its work in the resources sector and has been under the same management for more than seventeen years.
The CEO and President Robert Baldock commented, “Collaborating with CHF will be invaluable to the Company as Monument develops into a junior gold producer at the Selinsing Gold Project. The Company intends to advance exploration at Buffalo Reef Project and to increase our land position in Malaysia. We are confident that CHF will introduce our story to a broader Canadian audience in the financial and investment communities.”
Subject to acceptance by the TSX Venture Exchange, under the terms of the agreement, CHF will provide investor relations (“IR”) and market-making services to Monument effective immediately for a fixed term of twelve months. In the absence of written termination notice by either party effective May 14, 2011, IR services shall continue thereafter on an open-ended basis and may be terminated by either party with a three-month advanced written notice.
Monument will compensate CHF C$7,500 monthly, as well as applicable disbursements. As a part of this agreement 1,600,000 incentive stock purchase options will be granted to CHF exercisable at $0.30 per share for a period of three (3) years vesting 400,000 in six months from the grant date and 300,000 every six month thereafter; of which 475,000 will be subject to shareholders’ approval at the next Monument Annual General Meeting. Prior to the grant of stock options described above, CHF had no interest, directly or indirectly, in the Company or its securities.
Monument intends to engage CHF’s Market Liquidity Program as soon as practical. Such activities will be undertaken out of CHF’s Calgary office through a registered broker in compliance with the guidelines established by the TSX Venture Exchange Policy 3.4 and other relevant policies.
The Company is diligently working towards closing the $12 million financing transaction announced in December 21, 2009 on terms as originally released to the market. The process has lasted much longer than anticipated due to lengthy due diligence. It is anticipated the financing will be completed before the end of June 2010. These funds will enable the Company to proceed with doubling the capacity of the gold treatment plant, close its land acquisition program and re-commence exploration on its prospective exploration areas.
About CHF Investor Relations
CHF’s effective role is acting as the public company’s outsourced, low-cost equivalent to an internal investor relations department. CHF serves an international portfolio of TSX and TSX Venture listed companies, and others that may seek to list on North American Exchanges, that operate in a broad range of industries including mining exploration and producers, oil & gas, high-tech, industrial and business solutions and products, and “green” companies. The depth of capital market experience at CHF is formidable dating back to the late 1970’s. CHF’s head office is in Toronto with another Canadian office in Calgary as well as branch offices in New York, USA; São Paulo, Brazil; and Shanghai, China.
About Monument Mining Limited
Canadian based Monument Mining Limited has two wholly-owned principal properties: Selinsing Gold Mine Project (“Selinsing”); and Damar Buffalo Reef Prospect (“Buffalo Reef”); which are located in Pahang State in the Central Gold Belt District of Malaysia.
The Selinsing project recently commissioned the Phase I gravity section of its gold processing plant and has since commissioning, commenced in late 2009 produced more than 10,000 ounces of gold to May 31, 2010. Commissioning of the remaining Phase II CIL section of the plant is expected by end of June or early July 2010, followed shortly thereafter by an expected announcement of reaching commercial production. The Company has the objective, once fully commissioned, to produce up to 40,000 ounces of gold per year, with intention to increase that by expansion of the treatment plant in Phase III which will more than double the plant capacity.
Please visit our website at www.monumentmining.com for more information.
Robert F. Baldock, President and CEO
Monument Mining Limited
Suite 910- 688 West Hastings Street
Vancouver B.C. Canada V6B 1P1
For further information contact:
Monument Mining Limited
(Tel) +1 604 638 1661 ext. 102
(Fax) +1 604 638 1663
CHF Investor Relations
Senior Account Manager
(Tel) 1-416-868-1079 ext. 228
Wolfgang Seybold President and CEO
(Tel) +49 711 25 35 92 40
(Fax) +49 711 25 35 92 55
“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 statements about Monument Mining Limited (“Monument”), its business and future plans. 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 news 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, 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. statements regarding the future price of gold; the estimation of mineral resources; conclusions of economic evaluation (including scoping studies); the realization of mineral resource estimates; the timing and amount of estimated future production, development and exploration; costs of future activities; capital and operating expenditures; success of exploration activities; mining or processing issues; currency exchange rates; government regulation of mining operations; and environmental risks. 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”. Forward-looking information is 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 information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual results of current exploration activities; foreign operations risks; other risks inherent in the mining industry and other risks described in the annual information form 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 information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information 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 information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.