Monument to Implement Value Creation Strategy - Seite 2

The Murchison project represents a significant opportunity for the Company to generate near term cash flows from the restart of gold production using the existing well maintained 260k tpa mill. Further extension drilling and step out exploration programs have the potential to delineate additional resources, which could justify expanding the current mill capacity up to 750k tpa for production of 25,000oz to 50,000oz per annum depending on exploration success in areas which have historically been underexplored.

The Company’s strategy is to focus on an aggressive exploration plan to increase the existing 380koz NI 43-101 compliant Measured, Indicated and Inferred Resources over the next two years on a combined quality, and quantity basis as feed to the already permitted plant and infrastructure at Burnakura. The potential for treating third party ore is also being considered.

Selinsing Gold Mine

- The Company plans to develop the Selinsing Sulphide Project into production through a two stage de-risking process, in order to reduce the initial upfront investment required. Step 1 proposes the construction of a flotation plant producing gold concentrates for sale to a third party, with cash generated from these sales to be used as construction funding for the planned stage 2 BIOX plant.

Selinsing has been the flagship project for Monument over the last decade, with low operating costs, a dedicated operations team and resources to underpin an additional six-year life of mine. The completion of the plant upgrade and startup of production for the new life of mine will provide significant future cash flows which can be used to fund the second stage of development as well as further exploration to increase the current resource base and support growth in other areas of the business.

Selinsing is invaluable to de-risked cash resources to support Monument’s corporate development and operations. Cash would be generated at Selinsing from (1) Gold production cash flow from Selinsing Gold Mine, (2) Development of a niche market through bio-leaching process with third party sulphide concentrates, and (3) Potential underground mining.

The Company will examine the justification of the above stated opportunity to open a niche market to procure third parties’ sulphide gold concentrates as a rationale for financing the Biox plant that will provide sustainable cash resources to the Company.

Further Acquisitions

- The Company will seek to augment current and future production via a suitable acquisition strategy that can either supplement future production from the Murchison project and its possible expansion, or enhance overall gold production via a large-scale standalone project.