• Gold Price USD $1,868.47
  • TSX.V: MMY
  • FSE: D7Q1
Contact Email Alerts


The Selinsing Gold Mine is in a transition period as it moves from Oxide Gold Production to Sulphide Gold Production and in order to do that needs to convert the current oxide treatment plant to a plant with a sulphide treatment circuit. As a result the Selinsing operation is focused on preparation for Sulphide Gold Production.

The feasibility study was prepared by Snowden Mining Industry Consultants Pty Ltd in the NI 43-101 Technical Report titled “Selinsing Gold Sulphide Project” filed on Sedar January 31 2019. In the feasibility study the economic viability of the project is described as primarily driven by adding flotation and BIOX® processes to the current Selinsing Gold Processing Plant to treat sulphide ore. The FS has focused on metallurgical testwork, metallurgical processing design and Front-End Engineering Design, along with geological review and mine planning studies. 

Feasibility Study Highlights

  • Establishes the economic viability of the project for a six year life of mine (“LOM”)
  • Shows opportunity to further improve production and potentially increase gold inventories in the future
  • Net cash flow from operations of US$98.77 million, based on a gold price of $1,300/oz.
  • Net cash flow of US$44.55 million
  • NPV of US$27.56 million
  • IRR of 49%
  • LOM average Au grade of 1.45g/t
  • LOM average Au recovery of 85%
  • LOM recovered ounces of 223koz
  • Cash Cost per Ounce of $863

Now that the Feasibility Study for the Sulphide project has been completed, an execution plan is in place to start up construction of the Selinsing Gold plant upgrade, and the Feasibility Study economics gives the green light for obtaining project financing.

Inferred Resource Potential Opportunity

The opportunity to include inferred resources was also discussed in the Feasibility Study. The Inferred Mineral Resource inside the Reserve open pit designs potentially contains an additional 20 koz of gold. The Inferred Mineral Resource external to the open pit design contains 130 koz of gold. Further exploration programs could be initiated to target the conversion of Inferred Mineral Resources to Indicated Mineral Resources. The Selinsing Gold Mine has a proven record in converting oxide Inferred Mineral Resources to recovered ounces.

Sulphide Processing Plant Upgrade

The Sulphide Processing plant upgrade is the: addition of a flotation plant, addition of a  BIOX® treatment facility, upgrades to the existing facility, closed circuit TV monitoring, and additional infrastructure. The BIOX® Process is a patented technology for pre-treatment of sulphide-based refractory ores and concentrates ahead of a conventional cyanide leach for gold recovery. The below flow diagram shows the flotation and BIOX® circuits added to the gold recovery process.

© 2021 Monument Mining Limited
All rights reserved.
Website by Adnet