2007
June 2007
Acquired Selinsing and Buffalo Reef properties ($41m)
Quick Facts
| Location | Pahang State, Malaysia, 158km North of Kuala Lumpur |
| Selinsing Area Land | 150.3 km2 |
| Workforce | Approximately 200 (including contractors) |
| Ownership | 100% |
| Mine Type | Open pit |
| Deposit Type | Oxide & Sulphide Gold |
| Process Method | Gravity/CIL |
| Processing Capacity | 1.00 million tpa* |
| Mineral Reserves** | 267 koz |
| Mineral Resources** | 880 koz |
| Estimated Mine Life | Estimated at 6 years with current resource-without further ore discovery |
*tpa-tonnes per annum
**Selinsing-Buffalo Reef/Felda Reserves and Resources as of March 31, 2018 (Snowden)
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Overview
The Selinsing Gold Mine is located in Pahang State, within the Central Gold Belt of Western Malaysia. It has a total tenement area of 150.3km2 consisting of the Selinsing, Buffalo Reef, Felda Land, Peranggih and Famehub properties. The mine has a 1.00 million tonne per annum gold processing CIL plant which is situated approximately 158km north of Kuala Lumpur.
Monument acquired the property in June 2007, and quickly placed it into commercial production in October 2010 after completion of a preliminary economic assessment, including financing and construction. The plant was expanded to 1.00 million tonnes per annum (tpa) from 0.4 million tpa in 2012. Up to December 31, 2020, Selinsing Gold Mine has produced 321,694 ounces of gold for $441.6 million in revenue at an average cash cost of $520 per ounce and has provided net cash from operations of $286 million.
In 2019 an updated NI 43-101 Report “Selinsing Gold Sulphide Project” (“the 2019 Feasibility Study”) produced by Snowden Mining Industry Consultants Pty Ltd fully replaced the existing gold inventory with gold resources of 880koz and reserves of 267koz at 1.45 g/t to extend the mine life by a further six years with upside potential. Monument is currently underway for implementation of the Sulphide Gold Project to bring the new life of mine into production by a two-stage approach, and to deliver flotation production of gold concentrates by the second quarter of 2022.