Latest news with #Monument
Yahoo
3 days ago
- Business
- Yahoo
Monument Reports Third Quarter Fiscal 2025 Results
Gross Revenue of US$19.85 Million and Cash Cost of US$874/Oz VANCOUVER, British Columbia, May 30, 2025 (GLOBE NEWSWIRE) -- Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) 'Monument' or the 'Company' today announced its financial results for the three months ('Q3 FY 2025') and nine months ended March 31, 2025 ('YTD FY 2025'). All amounts are in United States dollars unless otherwise indicated (refer to for full financial results). President and CEO Cathy Zhai commented, 'In Q3 FY 2025, the flotation plant performance was well optimized at Selinsing Gold Mine as expected, attributed to the successful commissioning of the new filter press. The Company's cash reserves grew by $6.46 million to $29.54 million even the March shipment delayed to the following quarter due to impact from the 'tariff war', while working capital rose by $7.0 million to $38.93 million. 'At Murchison, the development plan advanced steadily with an economic scoping study being carried out by SRK Consulting (Australasia) Pty Ltd ('SRK'), highlighted by the signing of collaboration agreements with two ASX-listed gold exploration companies to potentially process ore from their nearby projects at the Burnakura mill.' Third Quarter Highlights: $29.54 million cash on hand, a $6.46 million increase from $23.08 million during Q3 FY 2025, compared to $7.49 million cash on hand, $2.65 million increase during Q3 FY 2024; $38.93 working capital, $18.38 million or 89% increase from $20.55 million at the end of June 30, 2024; Net profit of $4.86 million, or $0.01 per share for Q3 FY 2025, compared to net income of $0.88 million, or $0.00/share for Q3 FY 2024; Gross margin of 12.51 million for Q3 FY 2025, 73% more than $7.21 million in Q3 FY 2024; Production performance: A record 9,543 ounces of gold produced during the quarter (Q3 FY 2024: 5,488 ounces), with a new filter press in operation since March 2025; 8,399 ounces of gold sold at a record average realized price of $2,945/oz for gross revenue of $19.85 million (Q3 FY 2024: 8,727 ounces sold at an average realized price of $2,097/oz for gross revenue of $14.91 million); Cash cost of $874 per ounce sold (Q3 FY 2024: $882/oz); All in sustaining cost of $1,366 per ounce sold for Q3 FY 2025, 7% increase compared to $1,273/oz in Q3 FY 2024; Mineral resource drilling programs initiated targeting on increasing the mine life. Third Quarter and YTD Fiscal Year 2025 Production and Financial Highlights Three months ended March 31, Nine months ended March 31, 2025 2024 2025 2024 Production Ore mined (tonnes) 217,303 200,676 532,531 790,264 Waste removed (tonnes) 2,079,437 2,777,069 6,454,008 7,565,320 Gold Sulphide Production Ore processed (tonnes) 191,664 166,478 550,976 536,189 Average mill feed grade (g/t) 1.76 1.49 1.78 1.62 Processing recovery rate (%) 88.20 68.50 83.49 69.82 Gold produced (oz) (1) 9,543 5,488 26,215 19,539 Gold sold (oz) 8,399 8,727 26,656 20,301 Financial (expressed in thousands of US$) $ $ $ $ Revenue 19,847 14,911 59,015 32,819 Gross margin from mining operations 12,511 7,213 35,664 14,991 Net Income before other items 9,296 2,715 26,321 5,606 Net income 4,863 884 16,699 204 Cash flows provided by operations 11,322 6,201 29,720 8,635 Working capital 38,929 17,406 38,929 17,406 Earnings per share – basic and diluted (US$/share) 0.01 0.00 0.05 0.00 Weighted average gold price US$/oz US$/oz US$/oz US$/oz - Realized price - sulphide production 2,945 2,097 2,718 1,917 Cash cost per ounce sold Mining 229 323 238 301 Processing 296 349 298 347 Royalties 281 149 267 162 Operations 68 61 73 68 Total cash cost per ounce sold (2) 874 882 876 878 Operation expenses 4 4 5 5 Corporate expenses 39 8 17 7 Accretion of asset retirement obligation 7 6 6 8 Exploration and evaluation expenditures 20 1 9 2 Sustaining capital expenditures 422 372 311 268 Total all-in sustaining costs per ounce sold(3) 1,366 1,273 1,224 1,168 (1) Out of total 9,543 ounces of gold production reported in Q3 FY 2025, of which 71 ounces were production adjustments.(2) Total cash cost for sulphide plant production includes production costs such as mining, processing, tailing facility maintenance and camp administration, royalties, and operating costs such as storage, temporary mine production closure, community development cost and property fees, net of by-product credits. Cash cost excludes amortization, depletion, accretion expenses, capital costs, exploration costs and corporate administration costs.(3) All-in sustaining cost per ounce includes total cash costs, operation expenses, and adds sustaining capital expenditures, corporate administrative expenses for the Selinsing Gold Mine including share-based compensation, exploration and evaluation costs, and accretion of asset retirement obligations. Certain other cash expenditures, including tax payments and acquisition costs, are not included. GOLD PRODUCTION RESULTSThe sulphide flotation plant produced 9,543 ounces of gold, including 71 ounces adjustments. The mill processed 191,664 tonnes of sulphide ore at an improved average recovery of 88.20% because of new filter press and plant improvements and optimization, the use of new reagents including ethylene glycol frother, and the treatment of higher-grade transition and fresh sulphide ore. Further, higher grade transition and fresh sulphide ore at 1.76 g/t were treated compared to Q3 FY 2024. During Q3 FY 2025, mining activities continued to focus on Buffalo Reef and Felda Block 7. Ore mined in the quarter was 8% lower than in Q3 FY 2024, primarily due to avoidance of excessive ore stockpiles and improvement of overall production cost efficiency. The ore processed during the quarter was 15% more than in Q3 FY 2024 due to more plant availability and improved outputs of new filter press to resolve processing production included total material mined of 6,986,539 tonnes (nine months ended March 31, 2024 ('YTD FY 2024'): 8,355,584 tonnes), comprising to 532,531 tonnes of ore (YTD FY 2024: 790,264 tonnes) and 6,454,008 tonnes of waste (YTD FY 2024: 7,565,320 tonnes). The stripping ratio increased to 12.12 compared to 9.57 during YTD FY 2024, due to the mining sequence and higher cutback waste to support ore continuity and production sustainability. The mill processed 550,976 tonnes of sulphide ore during YTD FY 2025, averaging a head grade of 1.78 g/t and a recovery of 83.49%. FINANCIAL RESULTSQ3 FY 2025 gold sales generated revenue of $19.85 million from 8,399 oz gold sold at a record average realized price of $2,945 per ounce (Q3 FY 2024: 8,727 oz at $2,097 per ounce for gross revenue of $14.91 million) from the sulphide flotation plant. Mining operations before non-cash amortization and depreciation generated a gross margin of $12.51 million, 73% more than $7.21 million in Q3 FY 2024. The cash cost from the sulphide gold production was reduced to $874/oz compared to $882/oz in the Q3 FY 2024, contributed by lower mining and processing cost per ounce, offset by higher royalty per ounce based on higher gold sale price. Net cash generated from operating activities of $11.32 million in the quarter, an increase of $5.12 million compared to $6.20 million of net cash generation during Q3 FY 2024, which was mainly led by higher gross margin from higher grade and recovery rate, higher realized gold prices, and lower cash cost per ounce. The Company's cash and cash equivalents as at March 31,2025 were $29.54 million, an increase of $18.68 million from $10.86 million as of June 30, 2024. And current assets exceeded current liabilities by $38.93 million (June 30, 2024: $20.55 million) demonstrating a strong net working capital of $59.02 million from the sale of gold concentrates, containing 26,656 oz of gold sold at the average realized gold price of $2,718/oz (YTD FY 2024: revenue of $32.82 million for 20,301 oz of gold sold at the average realized price at $1,917 per ounce). Total mining cost of $1.92 million compared to $2.82 million during YTD FY 2024. Total processing costs related to the sulphide operations were $2.48 million compared to $3.05 million during YTD FY 2024. Mining operations before non-cash amortization and depreciation generated a gross margin of $35.66 million, an increase of $20.67 million from $14.99 million during YTD FY 2024. The cash cost from the sulphide flotation gold production decreased to $876/oz (YTD FY2024: $878/oz for the gold concentrate), led by lower mining and processing cost per ounce, offset by higher royalty per ounce based on higher gold sale price. MINE DEVELOPMENT AND EXPLORATIONPre-stripping and cut-back Mining at Buffalo Reef and Felda Block 7 continued and reached the high-grade portion of the orebody. The stripping ratio declined during Q3 as expected once the cutback activities were concluded as per the mining schedule. Tailing Storage Facility Upgrade Having completed all construction work for the stage 6 TSF main embankment raise to 540m RL, attention was focussed on the stage 7 raise to 545 mRL. Planning for a geotechnical site investigation was initiated including rotary core drilling and standard penetration tests. The fieldwork and subsequent laboratory test work was scheduled to commence in Q4 FY 2025. Flotation Plant and Related Facilities During Q3 FY 2025, ongoing plant optimization included: jaw crusher liners, a new jaw crusher discharge chute, several sets of cone crusher concave and mantle liners, repairs to the cyclone feed and secondary ball mill discharge pumps, a new primary mill pump, discharge hopper, strengthening the working platform in the cyclone area and providing a new maintenance access platform in the concentrate thickener area, and other pumps and pipelines. The filter press operation including a new filter press, new compressor and new concentrate surge tank were successfully commissioned and in use in the third quarter of fiscal 2025 after further optimization design and electrical control centralization. Exploration During the third quarter the Company continued a review process for the potential expansion of mineral resources at Selinsing, and a proposal of drill holes for Buffalo Reef resource conversion drilling has been reviewed. An exploration team has been recruited for exploration programs and a core logging, cutting and sampling facility has been established. Infill drilling commenced in Q3 FY 2025 (405 metres drilled) to improve resource estimates within the current pits. A new drilling program is expected to commence at the end of fiscal 2025, which will aim to identify additional oxide and sulphide mineralisation, upgrade the resources outside of the current pit-shell and potentially increase the life of Q3 FY 2025 the Company continued working on a review of the Murchison Gold Project, including an economic assessment for a production restart. The economic scoping study is being carried out by SRK Consulting (Australasia) Pty Ltd. A geological database and archive review made significant progress during the second and third quarter, completed in May 2025 subsequent to the third quarter, FY 2025. The confirmation drilling program was planned for the Gabanintha tenements, in order to allow certain historical resources into the mine plan. The Company continued to engage with the local Aboriginal group to build a productive relationship and discuss its production intentions and gain the traditional owner's support. The processing plant, accommodation, catering facilities, offices, and associated infrastructure were maintained to a good standard ensuring operational readiness for commissioning if production restarts. Accommodation and catering facilities were fully operational during the quarter and equipped to support administrative, exploration, and mining activities. Collaboration Agreements During Q3 FY 2025 the Company announced the signing of two collaboration agreements, one with Odyssey Gold Limited and one with Great Boulder Resources, to potentially process ore from their projects through Monument's Burnakura Mill subject to availability. About Monument Monument Mining Limited (TSX-V: MMY, FSE:D7Q1) is an established Canadian gold producer that 100% owns and operates the Selinsing Gold Mine in Malaysia and the Murchison Gold Project in the Murchison area of Western Australia. It has 20% interest in Tuckanarra Gold Project, jointly owned by Odyssey Gold Ltd in the same region. The Company employs approximately 270 people in both regions and is committed sustainability with practice of the highest standards of environmental management, social responsibility, including health and safety for its employees and neighboring communities, and good corporate governance. Cathy Zhai, President and CEOMonument Mining LimitedSuite 1580 -1100 Melville StreetVancouver, BC V6E 4A6 FOR FURTHER INFORMATION visit the company web site at or contact: Richard Cushing, MMY Vancouver T: +1-604-638-1661 x102rcushing@ "Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release." Disclaimer Regarding Forward-Looking Statements This news release includes statements containing forward-looking information about Monument, its business and future plans ("forward-looking statements"). Forward-looking statements are statements that involve expectations, plans, objectives or future events that are not historical facts and include the Company's plans with respect to its mineral projects, expectations regarding the completion of the ramp-up period to target production level at Selinsing and the timing thereof, expectations regarding the Company's continuing ability to source explosives from suppliers, expectations regarding completion of the proposed storage shed and ammonium nitrate depot and the timing thereof, and the timing and results of the other proposed programs and events referred to in this news release. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". The forward-looking statements in this news release are subject to various risks, uncertainties and other factors that could cause actual results or achievements to differ materially from those expressed or implied by the forward-looking statements. These risks and certain other factors include, without limitation: risks related to general business, economic, competitive, geopolitical and social uncertainties; uncertainties regarding the results of current exploration activities; uncertainties in the progress and timing of development activities, including those related to the ramp-up process at Selinsing and the completion of the proposed storage shed and ammonium nitrate depot; uncertainties and risks related to the Company's ability to source explosives from suppliers; foreign operations risks; other risks inherent in the mining industry and other risks described in the management discussion and analysis of the Company and the technical reports on the Company's projects, all of which are available under the profile of the Company on SEDAR at Material factors and assumptions used to develop forward-looking statements in this news release include: expectations regarding the estimated cash cost per ounce of gold production and the estimated cash flows which may be generated from the operations, general economic factors and other factors that may be beyond the control of Monument; assumptions and expectations regarding the results of exploration on the Company's projects; assumptions regarding the future price of gold of other minerals; the timing and amount of estimated future production; assumptions regarding the timing and results of development activities, including the ramp-up process at Selinsing and the completion of the proposed storage shed and ammonium nitrate depot; expectations that the Company will continue to be able to source explosives from suppliers in a timely manner; costs of future activities; capital and operating expenditures; success of exploration activities; mining or processing issues; exchange rates; and all of the factors and assumptions described in the management discussion and analysis of the Company and the technical reports on the Company's projects, all of which are available under the profile of the Company on SEDAR at Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements, except in accordance with applicable securities laws.
Elle
3 days ago
- Automotive
- Elle
See the Artwork That Clinched This Year's Loewe Foundation Craft Prize
Craft has always been at the heart of the house of Loewe since its inception in 1848. In 2016, the brand introduced the Loewe Foundation Craft Prize, which represents its immense dedication to international craftsmanship, innovation, and design. Last night at the Thyssen-Bornemisza National Museum in Madrid, the finalists gathered for a presentation in front of Loewe's jury of experts, which consisted of past winners, critically acclaimed essayists, architectural designers, museum directors, and curators. The winner of the 2025 honors, and recipient of €50,000, is Kunimasa Aoki for his work 'Realm of Living Things.' Aoki was one of 30 shortlisted artists—chosen from over 4,600 submissions across 133 countries—to compete in the final round. Based in Kawaguchi, Japan, Aoki originally studied at the Department of Sculpture at Musashino Art University in Tokyo before completing a postgraduate degree in art and design. His winning piece is a stunningly intricate sculpture made entirely from his signature medium, terracotta. Inspired by the accumulative effects of nature over time, he manipulated impeccably minute layers of clay through stacking and molding, creating a multidimensional pillar that seems to take on an organic life of its own. The result, from both up close and afar, has a remarkably hypnotic effect. Special mention was given to artists Nifemi Marcus-Bello and Studio Sumaskhi Singh, who competed alongside Aoki. Marcus-Bello's piece, titled 'TM Bench with Bowl,' was inspired in part by his purchase of a secondhand car. Crafted from recycled sand-cast aluminum, the beautifully austere piece is a commentary on both contemporary African life and the waste inherent in modern design. The bench serves as a rebirth for the materials, offering people a space to gather and communicate. For Studio Sumaskhi Singh's final piece, the collective—composed of Birendranath Sarkar, Samarjeet Samarjeet, Bikas Barman, and led by Singh—presented a woven masterpiece titled 'Monument.' The work is a replication of a column from the Qutb Minar Complex of the Delhi Sultanate medieval empire. Copper thread was meticulously woven through a soluble fabric that, when dissolved, revealed the piece's immensely fragile structure. The exhibition at the Thyssen-Bornemisza National Museum is open to the public from May 30–June 29. Tickets are free of charge and available online at
France 24
3 days ago
- Sport
- France 24
Danish veteran Fuglsang to quit after Giro
"The last stage of the Giro on Sunday will be my last race for Israel Premier Tech," the Dane said in a video released by his team. "I've had a fantastic career that has given me much more than I ever dreamed of. But all good things come to an end and it's time for me to spend more time with my family and make way for the young riders." After beginning his professional career on mountain bikes, Fuglsang made a successful switch to the road. He won the Criterium in 2017 and 2019 when he also won his first Monument, the Liege-Bastogne-Liege. The following year he added the Tour of Lombardy. In recent years Fuglsang has played the role of road captain for riders such as Canadian Derek Gee, fourth overall in the Giro at the start of stage 19 on Friday. "When I extended my contract with the team, we agreed on a seven-month contract to support our general classification project with Derek Gee," he explained. "It's been a fantastic adventure, and I'm happy to finish at a level where I can still play a part and give something back to the team. While Fuglsang is closing his career with Israel Premier Tech, Fuglsang said he might make a final farewell by riding one last time in the Tour of Denmark, which he has won three times, in August.
Forbes
6 days ago
- Entertainment
- Forbes
Summer In Athens: Festivals, Al Fresco Dining And Days By The Coast
In summer, Athens bursts into life as the city's outdoor venues transform into stages for a rich calendar of cultural events under the open sky. Athens' vibrant energy and nightlife rise in sync with the temperature each summer, with a jam-packed cultural calendar and a host of events in atmospheric outdoor venues. Base yourself in Psyrri, one of Athens' buzziest neighbourhoods, for exploring the city's thriving arts scene, cooling down with ocean dips in the nearby Athenian Riviera, and sunset cocktails against the Acropolis. In summer, Athens bursts into life as the city's outdoor venues transform into stages for a rich calendar of cultural events under the open sky. These events include the Epidaurus Festival set in the Ancient Theatre of Epidaurus (May-August), the Open Air Film Festival (June to August), and contemporary RELEASE music festival (July) featuring London Grammar and Fontaines D.C and set at the Platia Nerou—which literally translates as 'water plaza' for its location right on the sea. Visitors can explore a wealth of beautiful beaches and swimming spots along the Athens coastline, just over 30 minutes' away, including Voula Beach with shallow waters and calm seas, and Vouliagmeni Beach, known for its standout private beaches. For those looking to explore further across the ocean, try day trips to the neighboring Aeolian islands such as Hydra, Poros and Aegina. Tucked away in the energetic Psyrri neighborhood, Monument Hotel Athens is an intimate retreat with nine uniquely designed bedrooms, curated to evoke the feel of a private residence for those in the know. Each room features intricate ceiling murals, limewashed walls, bespoke architectural elements, handcrafted beds, and furnishings from Scandinavian designers such as Gubi and Woud. In summer, Athens bursts into life as the city's outdoor venues transform into stages for a rich calendar of cultural events under the open sky. Guests can unwind as large doors open onto a sweeping private terrace, complete with a jacuzzi and uninterrupted views of the Acropolis and the historic Agios Dimitrios Church. On Monument's lower ground floor, guests can find a private wellness centre, offering bespoke face and body treatments using locally sourced almond oil infused with Greek natural essential oils. Additionally, guests can book the spa's sauna and hammam for private use. Monument's location provides a gateway to the tavernas, restaurants and bars that line the winding streets of Athens. Situated just around the corner from the hotel, Cinque Wine Bar offers a more relaxed atmosphere, with a range of local and international red and white wines. For a light lunch after a morning spent exploring, Zampano, also in the Psyrri district, attracts a mix of locals, actors rehearsing and performing at theaters nearby, and tourists alike. The food is Greek with a twist, serving dishes including grilled courgettes with goat's cheese and almonds, summer linguini with locally grown vegetables, traditional Moussaka and an array of fresh seafood. On the coast, the glamorous suburb of Glyfada on the Athens Riviera is filled with authentic souvlaki joints, farmers markets, and chic bars sheltered from the sun under rows of parasols, perfect for a refreshing cocktail after a day by the water. On Thursday nights, Amigos, a lively Mexican bar and restaurant in the area, transforms into a full-blown salsa party from 10 pm onwards.
Yahoo
19-05-2025
- Yahoo
EPSO: Deputies, officers in home when explosion set off
(MONUMENT, Colo.) — The El Paso County Sheriff's Office (EPSO) reported that on Saturday, May 17, a suspect was arrested and charged with Attempted Homicide of a Peace Officer after he was believed to have deliberately caused an explosion in a home while deputies and police officers were inside. According to EPSO, around 5:20 p.m. on Saturday, the Monument Police Department responded to a reported family disturbance in the 40 block of Front Street, near 2nd Street and Mitchell Avenue, in Monument. The suspect, identified as 24-year-old Miguel Borja, had been involved in previous incidents and disturbing behavior, prompting a request for EPSO's assistance. EPSO reported that during the incident on Saturday, Borja allegedly tried to light another person on fire. Responding officers evacuated the home, but Borja barricaded himself inside. While trying to communicate with Borja, officers smelled a strong odor of gas inside the home. According to EPSO, an explosion, believed to have been intentionally caused by Borja, occurred as deputies and officers tried to enter part of the residence. Two officers and three deputies were inside the home when the explosion happened. All five were taken to the hospital and later released. Borja was taken into custody and to the hospital for treatment of burn-related injuries. According to EPSO, he was charged with one count of Attempted Assault, one count of Arson, three counts of Attempted Homicide, and five counts of Attempted Homicide of a Peace Officer. 'I am incredibly thankful members of law enforcement were not seriously injured during this incident,' said El Paso County Sheriff Joseph Roybal. 'Criminals like Borja do not belong in our communities, and I am grateful he is in the custody of my deputies. Thank you to our collaborating partners, at the local and federal levels, for assisting us in this investigation and ensuring justice for everyone harmed by this troubling act of violence.' EPSO detectives assumed responsibility for the investigation, along with the Bureau of Alcohol, Tobacco, Firearms, and Explosives (ATF), the Colorado Springs Police Department Regional Explosives Unit, and the Metro Crime Lab. The cause of the explosion is being investigated. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
