VANCOUVER, Oct. 27, 2014 /CNW/ - Monument Mining
Limited (TSX-V: MMY and FSE: D7Q1) "Monument" or the "Company"
announces that by mutual agreement between Monument and Phosphate
Australia Limited ("POZ") the closing date for Tuckanarra
Acquisition has been extended from October
23, 2014 to November 13, 2014.
It is caused by delay of completion of due diligence and approval
process due to a number of logistical and other practical and
procedural issues.
Pursuant to the Tenement Purchase Agreement announced on
August 28, 2014, the Company has
agreed to acquire, free and clear of any encumbrances, a 100%
interest in the Tuckanarra Gold Project from POZ. This acquisition
is accretive to its 100% owned Murchison Gold Project as it will
increase exploration potential and expend land position in the
proven and prospective gold region of the Murchison District in
Western Australia. The Murchison District has a long history
of gold exploration success and production over the last 100 years
and will add substantially to the prospective potential of Monument
in Western Australia.
The transaction is ongoing and subject to completion of due
diligence, regulatory approvals as required and final board
approval by the Board of Directors of Monument.
About Monument
Monument Mining Limited (TSX-V: MMY, FSE:D7Q1) is an established
Canadian gold producer that owns and operates the Selinsing Gold
Mine in Malaysia. Its experienced
management team is committed to growth and is advancing several
exploration and development projects in Malaysia and Australia, including the development stage,
Mengapur Polymetallic Project in Malaysia and the Murchison Project in
Western Australia. The Company
employs approximately 300 people and is committed to the highest
standards of environmental management, social responsibility, and
health and safety for its employees and neighboring
communities.
Robert F. Baldock,
President and CEO
Monument Mining Limited
Suite 1580, 1100 Melville Street
Vancouver B.C. Canada V6E 4A6
"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."
Forward-Looking Statement
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 and the timing
and results of 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;
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 www.sedar.com. 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; the expected timing and results of
development and exploration activities; 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 www.sedar.com. 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.
SOURCE Monument Mining Limited