Monument Reports First Quarter Fiscal 2016 Results
Original announcement by tmx on
- Company
- Monument Mining Limited
- Ticker
- MMY
- Exchange
- TSX
- Region
- Malaysia
- Primary commodity
- Gold
- Secondary commodities
- Silver
- Document categories
- Production, Metallurgy, Drill results
- Extracted
- 2026-08-23 22:58:19 UTC
Analysis by Minestarters Atlas
Minestarters Atlas analysis
Summary
Monument Mining Limited reported its first-quarter fiscal 2016 results, showing a significant decrease in gold production to 5,063 ounces, primarily due to lower head grades and processing super low-grade material. Despite this, the company achieved a substantial 33% reduction in cash cost per ounce to US$468. Monument is also progressing development projects, including commissioning the Intec Pilot Plant at Selinsing and advancing heap leaching at Burnakura.
Reasoning: Gold production decreased significantly due to lower head grade and recovery, but cash costs were substantially reduced, and development projects are advancing.
Positive factors
- cash_cost_reduction
- project_advancement
- exploration_ongoing
Negative factors
- production_decrease
- recovery_decrease
- head_grade_decrease
- processing_issues
Low confidence — this extraction should be reviewed alongside the original source.
Facts used in scoring: 41
Classification and evidence
Cash Cost Reductionpositive · Story-specific tag
No canonical definition is currently available.
Why it applies: Cash cost per ounce decreased by 33% to US$468 /oz
Evidence · text
“Cash cost per ounce decreased by 33% to US$468 /oz”
Production Decreasenegative · Story-specific tag
No canonical definition is currently available.
Why it applies: Gold production decreased by 48% to 5,063oz
Evidence · text
“Gold production of 5,063 ounces ("oz") (Q1 fiscal 2015: 9,745oz)”
Grade Declinenegative · Story-specific tag
Average grade dropped >5% vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling.
Why it applies: Average ore head grade decreased by 42% to 0.96g/t
Evidence · text
“Average ore head grade decreased by 42% to 0.96g/t”
Recovery Declinenegative · Story-specific tag
No canonical definition is currently available.
Why it applies: Process recovery rate decreased 9% to 77.0%
Evidence · text
“process recovery rate decreased 9% to 77.0%”
Pilot Scale Completepositive
Pilot or demonstration plant testing completed under continuous operation.
Why it applies: Commissioning of the Intec Pilot Plant was completed in preparation for operations test work.
Evidence · text
“commissioning of the pilot plant continued and was completed in preparation for the operations test work.”
Heap Leach Routeneutral
Processing via heap leach — lower CAPEX and OPEX, lower recovery expected.
Why it applies: Advancing heap leach production development at Burnakura.
Evidence · text
“metallurgical test work for heap leach processing from fiscal 2015.”
Exploration Drillingneutral · Story-specific tag
No canonical definition is currently available.
Why it applies: Ongoing diamond drilling for exploration at Buffalo Reef Central and FELDA Block 7.
Evidence · text
“a total of 18 diamond drill ("DD") holes were drilled for 2,302 metres ("m")”
QA/QC Disclosedpositive
Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods (blanks, standards, duplicates).
Why it applies: PQ-core samples were submitted to SGS Mengapur for chemical assays.
Evidence · text
“A total of 2,437 of PQ-core samples were submitted to SGS Mengapur for chemical assays.”
Extracted facts
Stored fact records: 0. Some facts used in scoring do not have a stored record.
No stored fact records are available for this extraction.
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.