Collaboration Agreement Between Monument Mining and Great Boulder
Monument Mining Limited (TSX-V: MMY, Frankfurt: D7Q1) has recently announced a promising collaboration with Great Boulder Resources. This agreement paves the way for both companies to explore the possibility of processing ore from Great Boulder’s Side Well Gold Project at Monument’s Burnakura Mill. The arrangement is contingent upon the availability of the mill, which is located in Australia.
President's Insights on the Collaboration
Cathy Zhai, the President and CEO of Monument, expressed her enthusiasm about this new partnership. She acknowledged the role of Andrew Paterson, Managing Director at Great Boulder, highlighting how they are keen to explore collaborative solutions beneficial for both parties. The aim is to optimize production and allow exploration companies to facilitate cash flow, especially as gold prices reach historical highs. This collaboration is seen as a meaningful step given the challenges junior companies often face within the natural resource sector.
Background on Monument's Operations
Monument Mining's successful journey includes the operational upgrades on its sulphide gold concentrate plant at the Selinsing Gold Mine. The company is now strategically advancing its Murchison Gold Project towards potential commercial production. Engaged SRK Consulting (Australasia) Pty Ltd is vital in evaluating the capacity and potential upgrades of the Burnakura mill, which may reach up to 750,000 tonnes per annum. With a dedicated team focusing on driving growth, Monument is set on enhancing its operational efficiency while maintaining robust production management standards.
Monument's Resource Estimates
The company boasts a significant estimated mineral resource of approximately 5.59 million tonnes at a grade of 2.12 g/t, yielding around 381,000 ounces of gold. This resource comprises both Indicated and Inferred categories at Burnakura, showcasing Monument's commitment to maintaining a clear and transparent resource estimation practice. Additionally, they possess a historical resource at the Gabanintha site and a 20% free carried interest in the Tuckanarra Gold Project, further solidifying their asset portfolio.
Great Boulder’s Exploration Portfolio
Great Boulder is recognized for its exploration prowess in Western Australia, with a focus on the Side Well Gold Project, where substantial mineral resources are already identified. The Side Well Gold Project alone defines a mineral resource totaling 7.45 million tonnes at 2.8 g/t, leading to approximately 668,000 ounces of gold. This exploration endeavor highlights the company's forward-thinking approach as they also venture into early-stage exploration at the Wellington Base Metal Project.
Details on the Collaboration Framework
The Memorandum of Understanding (MOU) is a key non-binding document that provides a framework for Monument and Great Boulder to collaboratively evaluate the feasibility of using Burnakura’s facilities for ore treatment. Both companies will conduct relevant scoping studies to share outputs which may help optimize their mining and processing strategies. The MOU emphasizes the mutual benefits expected from this partnership, bringing together Great Boulder’s local geological knowledge and Monument’s expertise in milling operations.
Next Steps for the Companies
As they move forward, both Monument and Great Boulder will require continued assessment to finalize operational logistics and commercial agreements regarding ore treatment. Each company will maintain responsibility for its associated study costs, reaffirming their commitment to thorough and independent evaluations. Should Monument wish to process third-party ore, the MOU guarantees pre-emptive rights for Great Boulder.
About Monument Mining Limited
Monument Mining Limited is a well-established entity in the precious metals sector, boasting full ownership of the Selinsing Gold Mine and operational oversight in the Murchison region of Australia. With a workforce of around 250 employees, the company's commitment to sustainability is evident in its environmental management strategies and dedication to social responsibility within the communities it operates. Monument continues to focus on corporate governance while pursuing excellence in gold production.
Contact Information
Cathy Zhai, President and CEO
Monument Mining Limited
Suite 1580 -1100 Melville Street
Vancouver, BC V6E 4A6
For further inquiries, Richard Cushing can be contacted at +1-604-638-1661 x102 or through email.
Frequently Asked Questions
What is the purpose of the collaboration agreement between Monument Mining and Great Boulder?
The collaboration aims to explore processing ore from Great Boulder’s Side Well Gold Project at Monument's Burnakura Mill to optimize production and efficiency.
Who is involved in the agreement?
Monument Mining Limited and Great Boulder Resources are the two parties engaged in this collaboration.
What are the mineral resource estimates for Monument Mining?
Monument Mining has an estimated mineral resource of approximately 5.59 million tonnes at a grade of 2.12 g/t, totaling about 381,000 ounces of gold.
How does the collaboration benefit both companies?
The collaboration allows both companies to share expertise, optimize operations, and provide potential cash flow opportunities as gold prices rise.
What is the cost responsibility under the collaboration agreement?
Each company will be responsible for its own study costs while pursuing the objectives outlined in the MOU.
