January 25 2012
Monument’s 2012 Second Quarter Production Gold Production of 11,736 ounces Release #04 - 2012 Vancouver, B.C. Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) (“Monument” or the “Company”)today reports its second quarter production results for the three months ended December 31, 2011. Full financial and operating results for the quarter will be released by the end of February 2012. All amounts are in United States dollars unless otherwise indicated. The second quarter gold production was 11,736 ounces compared to 11,348 ounces for the same quarter in the previous fiscal year, an increase of 3%. The average realized price per ounce of gold sold was $1,652 this quarter compared to $1,391 for the corresponding quarter in the previous fiscal year, an increase of 19%. The average processing recovery rate was 95.3% for the three month period. Cathy Zhai, CFO of Monument Mining, said: “We are pleased with another quarter of consistent production, and a favorable market for gold prices.”
| Year ended, Jun. 30, 2010 | Year ended, Jun. 30, 2011 | Three months ended, Sep. 30, 2011 | Three months ended, Dec. 31, 2011 | Mining | | | | | Ore mined (tonnes) | 662,330 | 740,909 | 124,736 | 128,557 | Waste moved (tonnes) | 2,326,502 | 2,707,598 | 719,080 | 686,995 | Ore stockpiled (tonnes) | 387,545 | 773,432 | 813,175 | 859,011 | Process | | | | | Crushed ore (tonnes) | 274,786 | 355,021 | 84,993 | 82,722 | Ore processed (tonnes) | 272,120 | 351,999 | 86,343 | 84,182 | Average mill feed grade (g/t) | 3.08 | 4.31 | 4.53 | 5.25 | Processing recovery rate | 58.7% | 92.9% | 95.1% | 95.3% | Ball mill availability (%) | 89.2% | 96.1% | 97.4% | 95.8% | Sales | | | | | Gold produced (oz) | 13,793 | 44,438 | 11,846 | 11,736 | Gold sold (oz) | 13,793 | 40,438 | 8,372 | 12,765 | Revenue (in 000's)⁽¹⁾ | $16,316 | $56,627 | $14,430 | $21,084 | Average realized gold price per ounce | $1,183 | $1,400 | $1,724 | $1,652 | (1) Prior to achieving commercial production in September 2010, gold sales and related production costs were capitalized against the Selinsing Gold Property and construction of the gold treatment plant.
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