The Tuckanarra property, purchased in November 2014, contains historical Indicated and Inferred JORC Mineral Resource of approximately 80koz Au and is within trucking distance of the Burnakura plant.
In December 2020, Monument sold an 80% interest in the Tuckanarra project to Odyssey Gold Ltd. (“ODY”) for consideration of AUD$5 million cash subject to certain conditions, leaving Monument with a 20% free carry interest until a decision to mine. Monument also retains a 1% NSR royalty over ODY’s 80% shared interest. An unincorporated JV was formed with ODY to further the exploration of Tuckanarra, with ODY solely responsible for funding the exploration and evaluation activities at Tuckanarra until a decision to mine is reached. The JV provides Monument the opportunity to have future ore produced by ODY fed into the Burnakura gold processing plant. Since the December 2020 sale ODY has achieved significant exploration success at Tuckanarra, reporting a maiden (in accordance with JORC Code-2012 Edition) compliant Mineral Resource of over 400,000 ounces of gold as of February 2024 and the company has ongoing exploration activities planned to further expand the Resources.