- Flotation plant work is underway at Monument Mining Limited’s (MMY) Selinsing Gold Project
- The Selinsing Gold Mine is located in Pahang State, Malaysia
- The flotation plant has been added to the existing processing plant
- The company expects gold concentrate production using the flotation plant to start in June, 2022
- Monument Mining Limited is up 3.33 per cent on the day, with shares of the company trading at C$0.16 at 11:21 am ET
Flotation plant work is underway at Monument Mining Limited’s (MMY) Selinsing Gold Project.
The Selinsing Gold Mine is located in Pahang State, Malaysia.
Phase 1 is now underway, with the company adding a flotation plant to the existing processing plant. The addition will produce marketable gold concentrates from the sulphide ore at the mine.
The flotation construction comprises of a “project economic validation aimed to optimize flotation design completed in the feasibility study, to produce saleable gold concentrate; detailed flotation design and engineering; procurement; construction and commissioning to deliver the final plant; and mine development,” according to the company.
Monument expects flotation test work to continue until May 2021, with flotation pilot plant testing happening in June, followed by plant procurement that same month.
Flotation plant construction is targeted to start in late August 2021 and be completed in April 2022. The company expects gold concentrate production to start in June, 2022.
“Monument has completed the restructuring of its mineral asset portfolio by spinning out the Mengapur base metals project. This enables us to focus on development and funding of the gold portfolio.”
She added:
“We plan to spend up to USD$20 million first to build a flotation plant for saleable gold concentrate, the proceeds from it can be used to add the planned bioleaching plant to produce gold bullion should an economic case be demonstrated by then,” said Monument Mining President and CEO Cathy Zhai.
Monument is an established Canadian gold producer that owns and operates the Selinsing Gold Mine in Malaysia. It is also advancing the Murchison Gold Projects comprising Burnakura, Gabanintha and Tuckanarra in the Murchison area of Western Australia.
Monument Mining Limited is up 3.33 per cent on the day, with shares of the company trading at C$0.16 at 11:21 am ET.
